The Progressive Co. (NYSE:PGR) Shares Sold by Yarbrough Capital LLC

Yarbrough Capital LLC lessened its stake in The Progressive Co. (NYSE:PGR - Free Report) by 51.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,433 shares of the insurance provider's stock after selling 2,533 shares during the quarter. Yarbrough Capital LLC's holdings in Progressive were worth $689,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 53,400,366 shares of the insurance provider's stock worth $12,795,262,000 after purchasing an additional 583,376 shares during the period. Geode Capital Management LLC grew its position in Progressive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 14,615,430 shares of the insurance provider's stock worth $3,498,363,000 after buying an additional 189,638 shares in the last quarter. Norges Bank bought a new position in Progressive during the fourth quarter valued at about $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 valued at $1,480,677,000 after acquiring 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 acquiring an additional 1,547,677 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief financial officer now directly owns 238,024 shares in the company, valued at approximately $65,544,668.88. This represents a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Carl G. Joyce sold 360 shares of Progressive stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the transaction, the chief accounting officer now directly owns 655 shares of the company's stock, valued at approximately $180,891.35. This represents a 35.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,755 shares of company stock worth $10,367,074 in the last 90 days. Insiders own 0.34% of the company's stock.

Progressive Trading Down 1.0%

Shares of NYSE PGR traded down $2.55 during midday trading on Wednesday, hitting $262.94. The company's stock had a trading volume of 2,999,111 shares, compared to its average volume of 3,027,755. The Progressive Co. has a 12-month low of $201.34 and a 12-month high of $292.99. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The firm has a market cap of $154.14 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. The business's 50 day moving average is $275.55 and its two-hundred day moving average is $264.54.

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 analysts' consensus estimates of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. As a group, equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Roth Mkm upped their target price on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Wells Fargo & Company increased their target price on Progressive from $324.00 to $328.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Bank of America upgraded Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price target on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Finally, BMO Capital Markets boosted their target price on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.