RAM Investment Partners LLC Has $621,000 Stock Position in The Progressive Corporation (NYSE:PGR)

RAM Investment Partners LLC boosted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,196 shares of the insurance provider’s stock after buying an additional 72 shares during the quarter. RAM Investment Partners LLC’s holdings in Progressive were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Highline Wealth Partners LLC increased its holdings 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 during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive during the 4th quarter worth about $28,000. HWG Holdings LP acquired a new position in Progressive in the 1st quarter valued at about $28,000. Atala Financial Inc bought a new position in Progressive in the 4th quarter valued at about $32,000. Finally, Garde Capital Inc. acquired a new stake in Progressive during the first quarter worth approximately $33,000. Institutional investors own 85.34% of the company’s stock.

Insiders Place Their Bets

In other Progressive news, insider Steven Broz sold 1,267 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $277.81, for a total value of $351,985.27. Following the completion of the sale, the insider now owns 28,888 shares of the company’s stock, valued at approximately $8,025,375.28. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stuart B. Burgdoerfer sold 3,681 shares of the business’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 sale, the director now owns 12,217 shares of the company’s stock, valued at approximately $3,181,673.31. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,705 shares of company stock worth $11,572,448. Corporate insiders own 0.33% of the company’s stock.

Progressive Trading Down 0.1%

PGR opened at $266.04 on Wednesday. The stock has a market cap of $155.96 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.64 and a beta of 0.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a twelve month low of $204.88 and a twelve month high of $292.99. The company has a fifty day moving average of $274.89 and a 200-day moving average of $264.58.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.87 billion. On average, sell-side analysts predict that The Progressive Corporation will post 14.68 EPS for the current year.

Wall Street Analyst Weigh In

PGR has been the subject of several research reports. Morgan Stanley set a $330.00 price target on Progressive and gave the stock an “overweight” rating in a report 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. Jefferies Financial Group cut their price objective on shares of Progressive from $327.00 to $319.00 and set a “buy” rating for the company in a report on Friday, April 11th. Roth Mkm lifted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, BMO Capital Markets increased their price target on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $288.88.

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.