982 Shares in The Progressive Co. (NYSE:PGR) Acquired by Aprio Wealth Management LLC

Aprio Wealth Management LLC bought a new position in shares of The Progressive Co. (NYSE:PGR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 982 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also made changes to their positions in PGR. Greenfield Savings Bank grew its holdings in Progressive by 0.5% in the 1st quarter. Greenfield Savings Bank now owns 16,491 shares of the insurance provider’s stock valued at $3,411,000 after buying an additional 76 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Progressive by 33.0% in the 1st quarter. Park Avenue Securities LLC now owns 17,603 shares of the insurance provider’s stock valued at $3,641,000 after buying an additional 4,363 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Progressive in the 1st quarter valued at $224,000. First National Bank of Mount Dora Trust Investment Services grew its holdings in Progressive by 3.7% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 39,343 shares of the insurance provider’s stock valued at $8,137,000 after buying an additional 1,397 shares in the last quarter. Finally, Wedmont Private Capital grew its holdings in Progressive by 5.9% in the 1st quarter. Wedmont Private Capital now owns 5,783 shares of the insurance provider’s stock valued at $1,184,000 after buying an additional 323 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PGR. HSBC upped their price objective on Progressive from $174.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, March 28th. BMO Capital Markets reissued an “outperform” rating and set a $235.00 target price on shares of Progressive in a report on Monday, June 17th. Roth Mkm increased their target price on Progressive from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Jefferies Financial Group increased their target price on Progressive from $241.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Progressive has a consensus rating of “Hold” and a consensus price target of $216.81.

Progressive Price Performance

Shares of PGR stock opened at $209.19 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a twelve month low of $111.41 and a twelve month high of $217.77. The company has a market cap of $122.52 billion, a P/E ratio of 21.41, a P/E/G ratio of 0.81 and a beta of 0.35. The business has a fifty day simple moving average of $209.54 and a 200 day simple moving average of $191.97.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.74. The business had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. Progressive’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 EPS. On average, sell-side analysts forecast that The Progressive Co. will post 11.33 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.19%. Progressive’s dividend payout ratio is presently 4.09%.

Insider Buying and Selling at Progressive

In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Progressive news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total value of $208,330.00. Following the completion of the transaction, the director now directly owns 7,176 shares in the company, valued at $1,494,976.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Sauerland sold 12,457 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total value of $2,546,584.51. Following the completion of the sale, the chief financial officer now directly owns 312,958 shares of the company’s stock, valued at approximately $63,978,003.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,468 shares of company stock worth $4,415,753. 0.34% of the stock is currently owned by insiders.

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.