Vivid Wealth Management LLC Has $2.81 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Vivid Wealth Management LLC grew its position in The Progressive Co. (NYSE:PGR - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,926 shares of the insurance provider's stock after buying an additional 982 shares during the period. Progressive makes up 1.4% of Vivid Wealth Management LLC's portfolio, making the stock its 16th largest position. Vivid Wealth Management LLC's holdings in Progressive were worth $2,809,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. AA Financial Advisors LLC bought a new position in Progressive during the first quarter worth about $276,000. Inscription Capital LLC acquired a new stake in shares of Progressive during the first quarter worth about $401,000. Grove Bank & Trust lifted its holdings in shares of Progressive by 53.0% during the 1st quarter. Grove Bank & Trust now owns 1,732 shares of the insurance provider's stock valued at $490,000 after purchasing an additional 600 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Progressive by 36.4% in the 1st quarter. QRG Capital Management Inc. now owns 126,826 shares of the insurance provider's stock valued at $35,893,000 after purchasing an additional 33,864 shares during the period. Finally, Highline Wealth Partners LLC increased its stake in Progressive by 114.0% during the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $276.17, for a total transaction of $99,421.20. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Devin C. Johnson sold 400 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the transaction, the director now owns 8,370 shares in the company, valued at approximately $2,302,084.80. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,517 shares of company stock valued at $9,451,821 in the last quarter. 0.34% of the stock is currently owned by insiders.

Progressive Stock Down 0.5%

Progressive stock opened at $266.46 on Tuesday. The Progressive Co. has a fifty-two week low of $204.62 and a fifty-two week high of $292.99. The firm has a market capitalization of $156.20 billion, a PE ratio of 18.50, a P/E/G ratio of 1.70 and a beta of 0.40. The company's 50-day moving average is $276.19 and its 200-day moving average is $264.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.28 by $0.37. Progressive had a return on equity of 33.79% and a net margin of 11.25%. The firm had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Sell-side analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley set a $330.00 price target on shares of Progressive and gave the company an "overweight" rating in a research note on Monday, May 19th. Barclays upped their target price on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Wall Street Zen cut Progressive from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Wells Fargo & Company boosted their price target on Progressive from $324.00 to $328.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets increased their price objective on Progressive from $282.00 to $288.00 and gave the stock an "outperform" rating in a report on Thursday, April 17th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.59.

Progressive Company Profile

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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