Wealth Enhancement Advisory Services LLC acquired a new position in shares of Progressive Corp (NYSE:PGR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 46,227 shares of the insurance provider’s stock, valued at approximately $2,586,000.

Several other institutional investors also recently made changes to their positions in PGR. Mckinley Capital Management LLC Delaware acquired a new position in shares of Progressive during the second quarter worth about $101,000. Balentine LLC grew its position in shares of Progressive by 3,273.0% during the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares in the last quarter. YorkBridge Wealth Partners LLC grew its position in shares of Progressive by 12.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,727 shares of the insurance provider’s stock worth $165,000 after buying an additional 427 shares in the last quarter. Sun Life Financial INC grew its position in shares of Progressive by 35,300.0% during the second quarter. Sun Life Financial INC now owns 4,248 shares of the insurance provider’s stock worth $187,000 after buying an additional 4,236 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC acquired a new position in shares of Progressive during the second quarter worth about $200,000. 79.45% of the stock is owned by institutional investors and hedge funds.

Shares of Progressive Corp (NYSE PGR) traded up $0.37 during midday trading on Friday, reaching $57.66. The company’s stock had a trading volume of 3,847,604 shares, compared to its average volume of 3,040,008. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Progressive Corp has a one year low of $36.17 and a one year high of $57.85. The stock has a market capitalization of $33,530.00, a PE ratio of 24.03, a P/E/G ratio of 2.42 and a beta of 0.94.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Progressive had a return on equity of 15.40% and a net margin of 5.41%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. equities analysts predict that Progressive Corp will post 2.47 EPS for the current year.

In other Progressive news, insider William M. Cody sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $56.10, for a total value of $1,402,500.00. Following the completion of the sale, the insider now owns 137,722 shares in the company, valued at $7,726,204.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the sale, the chief marketing officer now owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

PGR has been the subject of several recent analyst reports. Wells Fargo & Co set a $55.00 target price on Progressive and gave the stock a “hold” rating in a research note on Wednesday, December 13th. MKM Partners boosted their target price on Progressive to $65.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Credit Suisse Group restated a “hold” rating and set a $48.00 target price on shares of Progressive in a research note on Friday, December 15th. Keefe, Bruyette & Woods restated a “buy” rating and set a $60.00 target price on shares of Progressive in a research note on Wednesday, December 6th. Finally, Goldman Sachs Group initiated coverage on Progressive in a research note on Monday, December 4th. They set a “buy” rating and a $57.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.41.

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Progressive Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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