Goldstein Advisors LLC Has $327,000 Stock Position in The Progressive Corporation (NYSE:PGR)

Goldstein Advisors LLC lifted its stake in shares of The Progressive Corporation (NYSE:PGR) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,157 shares of the insurance provider’s stock after purchasing an additional 56 shares during the quarter. Goldstein Advisors LLC’s holdings in Progressive were worth $327,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its holdings in shares of Progressive by 66.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 197 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 79 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Progressive by 14.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 332,895 shares of the insurance provider’s stock valued at $94,213,000 after buying an additional 40,888 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Progressive by 4.3% in the first quarter. Perigon Wealth Management LLC now owns 4,696 shares of the insurance provider’s stock valued at $1,329,000 after buying an additional 193 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Progressive in the first quarter valued at about $86,000. Finally, Golden State Wealth Management LLC boosted its stake in Progressive by 282.7% in the first quarter. Golden State Wealth Management LLC now owns 1,898 shares of the insurance provider’s stock valued at $538,000 after buying an additional 1,402 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progressive

In other news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was 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 directly owns 248,024 shares in the company, valued at $66,616,766.16. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stuart B. Burgdoerfer sold 3,681 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.43, for a total value of $958,642.83. Following the transaction, the director now owns 12,217 shares of the company’s stock, valued at $3,181,673.31. This trade 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 worth $11,572,448 over the last ninety days. 0.34% of the stock is owned by insiders.

Progressive Price Performance

Shares of PGR opened at $259.67 on Thursday. 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 company has a market capitalization of $152.22 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.64 and a beta of 0.40. The business has a 50-day moving average of $274.56 and a 200-day moving average of $264.55.

Progressive (NYSE:PGR) last issued 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. 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 the consensus estimate of $21.87 billion. As a group, equities research analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PGR. Morgan Stanley set a $330.00 price objective on Progressive and gave the company an “overweight” rating in a research note on Monday, May 19th. Barclays raised their price objective on Progressive from $285.00 to $297.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Wells Fargo & Company raised their price objective on Progressive from $328.00 to $333.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Jefferies Financial Group reduced their price objective on Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on Progressive from $267.00 to $287.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive has an average rating of “Moderate Buy” and a consensus target price of $288.88.

About Progressive

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.