Wealth Enhancement Advisory Services LLC Boosts Holdings in The Progressive Corporation (NYSE:PGR)

Wealth Enhancement Advisory Services LLC lifted its position in The Progressive Corporation (NYSE:PGR - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,377 shares of the insurance provider's stock after acquiring an additional 1,524 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Progressive were worth $50,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tritonpoint Wealth LLC lifted its holdings in Progressive by 3.0% during the 1st quarter. Tritonpoint Wealth LLC now owns 1,757 shares of the insurance provider's stock valued at $497,000 after buying an additional 52 shares in the last quarter. BNC Wealth Management LLC bought a new stake in Progressive during the 1st quarter valued at about $2,051,000. CVA Family Office LLC lifted its holdings in Progressive by 9.2% during the 1st quarter. CVA Family Office LLC now owns 1,011 shares of the insurance provider's stock valued at $286,000 after buying an additional 85 shares in the last quarter. Everhart Financial Group Inc. lifted its holdings in Progressive by 11.6% during the 1st quarter. Everhart Financial Group Inc. now owns 3,957 shares of the insurance provider's stock valued at $1,120,000 after buying an additional 411 shares in the last quarter. Finally, Bensler LLC lifted its holdings in Progressive by 5.6% during the 1st quarter. Bensler LLC now owns 66,245 shares of the insurance provider's stock valued at $18,748,000 after buying an additional 3,536 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Insiders Place Their Bets

In other Progressive news, Director Dyke Kahina Van sold 2,490 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total value of $691,398.30. Following the sale, the director now directly owns 12,429 shares of the company's stock, valued at approximately $3,451,160.43. This represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $275.37, for a total transaction of $2,753,700.00. Following the sale, the chief financial officer now directly owns 238,024 shares in the company, valued at $65,544,668.88. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,157 shares of company stock valued at $9,352,400. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PGR. Wells Fargo & Company lifted their price objective on shares of Progressive from $328.00 to $333.00 and gave the company an "overweight" rating in a report on Friday. Bank of America upgraded shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price target for the company in a report on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Finally, Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a "buy" rating for the company in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $288.88.

Progressive Stock Up 0.4%

Shares of Progressive stock traded up $0.93 on Friday, reaching $261.26. The stock had a trading volume of 8,877,642 shares, compared to its average volume of 2,711,173. The company has a 50 day moving average price of $275.34 and a 200 day moving average price of $264.47. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 1 year low of $204.88 and a 1 year high of $292.99. The stock has a market capitalization of $153.15 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.62 and a beta of 0.40.

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

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.