The Progressive Corporation $PGR Holdings Boosted by CWS Financial Advisors LLC

CWS Financial Advisors LLC increased its stake in The Progressive Corporation (NYSE:PGR) by 9.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,570 shares of the insurance provider’s stock after acquiring an additional 316 shares during the period. CWS Financial Advisors LLC’s holdings in Progressive were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Creative Planning boosted its position in Progressive by 0.9% during the 2nd quarter. Creative Planning now owns 88,878 shares of the insurance provider’s stock worth $23,718,000 after acquiring an additional 763 shares during the period. Pinnbrook Capital Management LP boosted its position in shares of Progressive by 330.9% during the 2nd quarter. Pinnbrook Capital Management LP now owns 53,331 shares of the insurance provider’s stock valued at $14,232,000 after purchasing an additional 40,953 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Progressive by 7.3% during the second quarter. Meridian Wealth Management LLC now owns 8,550 shares of the insurance provider’s stock worth $2,282,000 after buying an additional 585 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Progressive by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 143,775 shares of the insurance provider’s stock worth $38,368,000 after acquiring an additional 9,807 shares during the last quarter. Finally, Empower Advisory Group LLC increased its stake in Progressive by 8.4% in the 2nd quarter. Empower Advisory Group LLC now owns 294,627 shares of the insurance provider’s stock worth $78,624,000 after purchasing an additional 22,771 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PGR. Evercore ISI lowered their price objective on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 1st. Jefferies Financial Group lowered shares of Progressive from a “buy” rating to a “hold” rating and cut their price objective for the company from $261.00 to $232.00 in a research report on Friday. Morgan Stanley set a $214.00 target price on Progressive and gave the company an “underweight” rating in a report on Monday, October 20th. The Goldman Sachs Group reduced their price objective on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Finally, Zacks Research cut Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $266.46.

Insider Activity at Progressive

In other news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total value of $295,900.00. Following the completion of the transaction, the insider owned 29,043 shares of the company’s stock, valued at $6,389,460. The trade was a 4.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $246.06, for a total value of $7,543,953.54. Following the completion of the sale, the chief executive officer owned 476,286 shares of the company’s stock, valued at $117,194,933.16. This trade represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,782 shares of company stock worth $12,708,788 in the last quarter. Insiders own 0.33% of the company’s stock.

Progressive Stock Up 0.9%

Shares of PGR opened at $225.23 on Friday. The company has a 50-day moving average price of $231.02 and a two-hundred day moving average price of $250.59. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $132.08 billion, a price-to-earnings 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 released its quarterly earnings data 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 company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. During the same quarter in the prior year, the company earned $3.58 earnings per share. Equities analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

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.