The Progressive Co. (NYSE:PGR) Shares Purchased by Personal CFO Solutions LLC

Personal CFO Solutions LLC raised its holdings in The Progressive Co. (NYSE:PGR) by 19.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,353 shares of the insurance provider’s stock after buying an additional 386 shares during the quarter. Personal CFO Solutions LLC’s holdings in Progressive were worth $564,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. purchased a new stake in shares of Progressive in the 4th quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in Progressive in the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the period. Valley National Advisers Inc. grew its stake in shares of Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in shares of Progressive by 1,650.0% during the 4th quarter. Independence Bank of Kentucky now owns 175 shares of the insurance provider’s stock worth $42,000 after buying an additional 165 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGR has been the subject of a number of research reports. Barclays boosted their price target on Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 18th. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. Roth Mkm increased their price target on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company upped their price objective on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley upped their price target on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.59.

Progressive Stock Down 0.5 %

Shares of Progressive stock opened at $279.77 on Monday. The stock has a 50-day moving average price of $254.23 and a 200 day moving average price of $252.81. The Progressive Co. has a 1 year low of $194.49 and a 1 year high of $287.49. The company has a market cap of $164.00 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $279.94, for a total transaction of $2,799,400.00. Following the transaction, the chief financial officer now directly owns 269,566 shares of the company’s stock, valued at $75,462,306.04. This represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock valued at $14,102,075 in the last quarter. Insiders own 0.34% of the company’s stock.

Progressive 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.