Brogan Financial Inc. Buys 473 Shares of The Progressive Corporation $PGR

Brogan Financial Inc. lifted its position in The Progressive Corporation (NYSE:PGR) by 51.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,385 shares of the insurance provider’s stock after purchasing an additional 473 shares during the period. Brogan Financial Inc.’s holdings in Progressive were worth $369,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Progressive during the fourth quarter worth about $269,000. Bison Wealth LLC grew its stake in shares of Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. MQS Management LLC purchased a new position in Progressive during the 1st quarter valued at about $232,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Progressive by 10.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 15,761 shares of the insurance provider’s stock valued at $4,460,000 after purchasing an additional 1,439 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the business’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $536,977.80. Following the sale, the insider directly owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patrick K. Callahan sold 6,420 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the completion of the sale, the insider directly owned 15,192 shares in the company, valued at approximately $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 51,782 shares of company stock valued at $12,708,788. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PGR. Raymond James Financial cut their price objective on Progressive from $305.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Jefferies Financial Group cut their price target on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Progressive in a research report on Monday, November 3rd. Finally, Barclays cut their target price on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $269.90.

Progressive Stock Up 0.9%

NYSE:PGR opened at $221.81 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The firm’s 50-day moving average price is $231.91 and its 200-day moving average price is $251.09. The company has a market capitalization of $130.07 billion, a PE ratio of 12.17, a P/E/G ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period in the previous year, the firm earned $3.58 EPS. On average, equities analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

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.