Compass Ion Advisors LLC Sells 204 Shares of The Progressive Corporation (NYSE:PGR)

Compass Ion Advisors LLC trimmed its holdings in The Progressive Corporation (NYSE:PGR) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,789 shares of the insurance provider’s stock after selling 204 shares during the quarter. Compass Ion Advisors LLC’s holdings in Progressive were worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PGR. Highline Wealth Partners LLC boosted its stake in shares of Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 49 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of Progressive during the fourth quarter valued at approximately $28,000. Atala Financial Inc purchased a new position in Progressive during the 4th quarter worth $32,000. Global Wealth Strategies & Associates lifted its holdings in shares of Progressive by 119.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider’s stock worth $39,000 after buying an additional 75 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in Progressive during the 4th quarter valued at $43,000. 85.34% of the stock is owned by institutional investors.

Progressive Stock Performance

NYSE:PGR opened at $260.31 on Friday. The company’s 50-day moving average is $275.63 and its two-hundred day moving average is $264.45. The Progressive Corporation has a 1-year low of $204.88 and a 1-year high of $292.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $152.60 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.63 and a beta of 0.40.

Progressive (NYSE:PGR) last issued its quarterly earnings data 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. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The company had revenue of $22.21 billion during the quarter, compared to analyst estimates of $21.87 billion. Analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the sale, the chief financial officer now directly owns 258,024 shares in the company, valued at $71,199,142.56. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Devin C. Johnson sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $275.04, for a total transaction of $110,016.00. Following the completion of the transaction, the director now directly owns 8,370 shares of the company’s stock, valued at approximately $2,302,084.80. The trade was a 4.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,157 shares of company stock worth $9,352,400. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Progressive from $324.00 to $328.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Jefferies Financial Group decreased their price target on shares of Progressive from $327.00 to $319.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $330.00 price objective on shares of Progressive and gave the stock an “overweight” rating in a research note on Monday, May 19th. UBS Group raised their price target on shares of Progressive from $285.00 to $291.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Finally, Bank of America upgraded shares of Progressive from a “neutral” rating to a “buy” rating and set a $312.00 price objective on the stock in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.