The Progressive Corporation (NYSE:PGR) Shares Acquired by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. raised its position in shares of The Progressive Corporation (NYSE:PGR) by 42.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,493 shares of the insurance provider’s stock after purchasing an additional 445 shares during the period. YHB Investment Advisors Inc.’s holdings in Progressive were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC boosted its position in shares of Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock worth $26,000 after buying an additional 49 shares during the period. Minot DeBlois Advisors LLC bought a new stake in Progressive during the 4th quarter valued at $28,000. HWG Holdings LP acquired a new position in Progressive during the 1st quarter worth $28,000. Atala Financial Inc acquired a new position in Progressive during the 4th quarter worth $32,000. Finally, Garde Capital Inc. bought a new position in shares of Progressive in the first quarter worth $33,000. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

PGR stock opened at $266.04 on Wednesday. The Progressive Corporation has a one year low of $204.88 and a one year high of $292.99. The firm has a 50-day moving average of $274.89 and a two-hundred day moving average of $264.58. The firm has a market capitalization of $155.96 billion, a PE ratio of 17.94, a P/E/G ratio of 1.64 and a beta of 0.40. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, beating the consensus estimate of $4.28 by $0.37. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The business had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. On average, analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current year.

Insider Activity

In related news, insider Steven Broz sold 1,267 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $329,901.46. Following the completion of the sale, the insider now directly owns 27,621 shares in the company, valued at approximately $7,191,955.98. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stuart B. Burgdoerfer sold 3,681 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.43, for a total transaction of $958,642.83. Following the completion of the sale, the director now owns 12,217 shares of the company’s stock, valued at approximately $3,181,673.31. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,705 shares of company stock worth $11,572,448 over the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Progressive from $285.00 to $297.00 and gave the company an “equal weight” rating in a research note on Friday, April 11th. Jefferies Financial Group dropped their price target on shares of Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Roth Mkm increased their price objective on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Bank of America upgraded shares of Progressive from a “neutral” rating to a “buy” rating and set a $312.00 price objective on the stock in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their target price on Progressive from $267.00 to $287.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and a consensus price target 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.