United Advisor Group LLC Buys 1,299 Shares of The Progressive Corporation (NYSE:PGR)

United Advisor Group LLC boosted its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,216 shares of the insurance provider's stock after purchasing an additional 1,299 shares during the quarter. United Advisor Group LLC's holdings in Progressive were worth $2,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PGR. Vanguard Group Inc. lifted its position in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after buying an additional 583,376 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Progressive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock valued at $3,498,363,000 after acquiring an additional 189,638 shares in the last quarter. Norges Bank purchased a new position in Progressive during the 4th quarter valued at $1,843,045,000. Northern Trust Corp raised its holdings in Progressive by 13.0% in the 4th quarter. Northern Trust Corp now owns 6,179,529 shares of the insurance provider's stock worth $1,480,677,000 after purchasing an additional 710,684 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Progressive by 34.3% in the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider's stock worth $1,451,602,000 after purchasing an additional 1,547,677 shares during the period. Institutional investors own 85.34% of the company's stock.

Insiders Place Their Bets

In related news, CFO John P. Sauerland sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $275.37, for a total value of $2,753,700.00. Following the transaction, the chief financial officer now directly owns 238,024 shares of the company's stock, valued at approximately $65,544,668.88. The trade was a 4.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Carl G. Joyce sold 360 shares of the business's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the transaction, the chief accounting officer now directly owns 655 shares in the company, valued at $180,891.35. This trade represents a 35.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,517 shares of company stock worth $9,451,821. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PGR. Barclays boosted their price target on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a research report on Friday, April 11th. UBS Group raised their price objective on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. BMO Capital Markets raised their price target on Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, April 17th. Finally, Jefferies Financial Group dropped their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $288.59.

Progressive Trading Down 2.1%

Shares of Progressive stock opened at $260.31 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $152.60 billion, a PE ratio of 17.55, a P/E/G ratio of 1.67 and a beta of 0.40. The Progressive Corporation has a 1-year low of $204.88 and a 1-year high of $292.99. The company's fifty day simple moving average is $275.88 and its 200-day simple moving average is $264.47.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The company had revenue of $22.21 billion for the quarter, compared to analysts' expectations of $21.87 billion. As a group, equities analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.

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