The Progressive Corporation (NYSE:PGR) Shares Acquired by Sava Infond d.o.o.

Sava Infond d.o.o. lifted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,626 shares of the insurance provider’s stock after acquiring an additional 100 shares during the period. Sava Infond d.o.o.’s holdings in Progressive were worth $2,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC raised its position in shares of Progressive by 114.0% during the 1st quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 49 shares in the last quarter. HWG Holdings LP purchased a new position in Progressive during the 1st quarter worth approximately $28,000. Minot DeBlois Advisors LLC purchased a new position in Progressive during the 4th quarter worth approximately $28,000. Garde Capital Inc. purchased a new position in Progressive during the 1st quarter worth approximately $33,000. Finally, Atala Financial Inc purchased a new position in Progressive during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Trading Up 1.7%

Shares of PGR stock opened at $266.39 on Tuesday. The business’s 50 day moving average is $275.09 and its two-hundred day moving average is $264.57. The Progressive Corporation has a twelve month low of $204.88 and a twelve month high of $292.99. The company has a market capitalization of $156.16 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.62 and a beta of 0.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. The business had revenue of $22.21 billion during the quarter, compared to analysts’ expectations of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. Equities analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $288.00 price target on shares of Progressive in a research note on Thursday, April 17th. Roth Mkm raised their price target on Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Wall Street Zen upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America upgraded Progressive from a “neutral” rating to a “buy” rating and set a $312.00 price target on the stock in a research note on Monday, April 28th. Finally, UBS Group raised their price target on Progressive from $285.00 to $291.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.88.

Insider Activity

In other news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $275.94, for a total value of $2,759,400.00. Following the completion of the sale, the chief financial officer now directly owns 258,024 shares of the company’s stock, valued at $71,199,142.56. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stuart B. Burgdoerfer sold 3,681 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $260.43, for a total value of $958,642.83. Following the completion of the sale, the director now directly owns 12,217 shares of the company’s stock, valued at $3,181,673.31. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,705 shares of company stock valued at $11,572,448 in the last three months. 0.33% of the stock is currently owned by company insiders.

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.