Journey Strategic Wealth LLC Acquires 1,776 Shares of The Progressive Corporation $PGR

Journey Strategic Wealth LLC grew its holdings in shares of The Progressive Corporation (NYSE:PGR) by 83.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,901 shares of the insurance provider’s stock after purchasing an additional 1,776 shares during the period. Journey Strategic Wealth LLC’s holdings in Progressive were worth $1,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PGR. Rise Advisors LLC increased its position in Progressive by 7.4% during the 1st quarter. Rise Advisors LLC now owns 521 shares of the insurance provider’s stock valued at $147,000 after buying an additional 36 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Progressive by 2.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,927 shares of the insurance provider’s stock worth $545,000 after acquiring an additional 39 shares in the last quarter. LRI Investments LLC grew its stake in shares of Progressive by 13.4% in the second quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock worth $90,000 after acquiring an additional 40 shares during the last quarter. True North Advisors LLC increased its holdings in shares of Progressive by 4.0% during the first quarter. True North Advisors LLC now owns 1,055 shares of the insurance provider’s stock valued at $299,000 after acquiring an additional 41 shares in the last quarter. Finally, Prosperity Consulting Group LLC increased its holdings in shares of Progressive by 1.1% during the first quarter. Prosperity Consulting Group LLC now owns 3,824 shares of the insurance provider’s stock valued at $1,082,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.10, for a total value of $536,977.80. Following the transaction, the insider owned 43,506 shares of the company’s stock, valued at approximately $10,532,802.60. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $220.00, for a total value of $295,900.00. Following the completion of the transaction, the insider directly owned 29,043 shares in the company, valued at $6,389,460. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,987 shares of company stock valued at $10,257,508 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Progressive Stock Performance

Shares of PGR stock opened at $226.99 on Friday. 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 company has a 50 day moving average price of $228.90 and a 200-day moving average price of $248.69. The Progressive Corporation has a 52 week low of $199.90 and a 52 week high of $292.99. The firm has a market capitalization of $133.11 billion, a PE ratio of 12.45, a P/E/G ratio of 1.19 and a beta of 0.29.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. During the same quarter last year, the company earned $3.58 EPS. As a group, equities research analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current year.

Analysts Set New Price Targets

PGR has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price target on shares of Progressive from $276.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. Wells Fargo & Company lifted their target price on shares of Progressive from $246.00 to $247.00 and gave the stock an “equal weight” rating in a report on Thursday. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Zacks Research cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $266.52.

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.