United Advisor Group LLC Sells 1,066 Shares of The Progressive Corporation $PGR

United Advisor Group LLC reduced its stake in The Progressive Corporation (NYSE:PGR) by 14.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,150 shares of the insurance provider’s stock after selling 1,066 shares during the quarter. United Advisor Group LLC’s holdings in Progressive were worth $1,641,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp bought a new position in shares of Progressive during the 2nd quarter valued at approximately $33,000. Ransom Advisory Ltd purchased a new position in Progressive in the first quarter valued at approximately $35,000. Activest Wealth Management lifted its stake in Progressive by 6,350.0% in the first quarter. Activest Wealth Management now owns 129 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 127 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in Progressive in the first quarter worth $39,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the subject of several recent research reports. Morgan Stanley set a $214.00 price objective on Progressive and gave the stock an “underweight” rating in a report on Monday, October 20th. Jefferies Financial Group downgraded shares of Progressive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $261.00 to $232.00 in a research note on Friday. Barclays lowered their price target on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $265.96.

Progressive Price Performance

Shares of NYSE:PGR opened at $225.30 on Tuesday. The company has a 50 day moving average of $230.61 and a 200 day moving average of $249.82. The company has a current ratio of 0.32, a quick ratio of 0.31 and a debt-to-equity ratio of 0.19. The stock has a market cap of $132.11 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.19 and a beta of 0.29. The Progressive Corporation has a 12 month low of $199.90 and a 12 month high of $292.99.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The firm had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. During the same quarter in the prior year, the company earned $3.58 earnings per share. As a group, sell-side analysts forecast that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the sale, the insider owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This trade represents a 29.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Susan Patricia Griffith sold 30,659 shares of Progressive stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value of $7,543,953.54. Following the sale, the chief executive officer owned 476,286 shares of the company’s stock, valued at approximately $117,194,933.16. This trade represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 51,782 shares of company stock worth $12,708,788. 0.34% of the stock is currently owned by corporate insiders.

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.