PDS Planning Inc Acquires 180 Shares of The Progressive Corporation (NYSE:PGR)

PDS Planning Inc lifted its holdings in The Progressive Corporation (NYSE:PGR) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,183 shares of the insurance provider’s stock after purchasing an additional 180 shares during the quarter. PDS Planning Inc’s holdings in Progressive were worth $901,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of Stockton lifted its position in Progressive by 1.5% during the 1st quarter. Bank of Stockton now owns 9,677 shares of the insurance provider’s stock worth $2,739,000 after buying an additional 141 shares in the last quarter. GenTrust LLC increased its position in shares of Progressive by 3.5% in the first quarter. GenTrust LLC now owns 1,234 shares of the insurance provider’s stock valued at $349,000 after acquiring an additional 42 shares during the last quarter. KG&L Capital Management LLC raised its holdings in Progressive by 8.9% during the first quarter. KG&L Capital Management LLC now owns 2,417 shares of the insurance provider’s stock worth $684,000 after acquiring an additional 198 shares in the last quarter. Goldstein Advisors LLC raised its holdings in Progressive by 5.1% during the first quarter. Goldstein Advisors LLC now owns 1,157 shares of the insurance provider’s stock worth $327,000 after acquiring an additional 56 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in Progressive by 66.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 197 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling

In related news, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the completion of the transaction, the chief financial officer now owns 248,024 shares in the company, valued at approximately $66,616,766.16. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Broz sold 1,267 shares of Progressive stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $329,901.46. Following the completion of the sale, the insider now directly owns 27,621 shares in the company, valued at approximately $7,191,955.98. This represents a 4.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,705 shares of company stock worth $11,572,448. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Progressive from $328.00 to $333.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Barclays lifted their price objective on shares of Progressive from $285.00 to $297.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. BMO Capital Markets boosted their target price on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Morgan Stanley set a $330.00 price target on Progressive and gave the company an “overweight” rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group reduced their target price on Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $288.88.

Progressive Stock Performance

Shares of PGR opened at $259.67 on Thursday. The Progressive Corporation has a 52 week low of $204.88 and a 52 week high of $292.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day moving average price of $274.56 and a two-hundred day moving average price of $264.55. The firm has a market capitalization of $152.22 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.64 and a beta of 0.40.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.28 by $0.37. The firm 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%. Equities analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal 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.