RWA Wealth Partners LLC Buys 794 Shares of The Progressive Corporation $PGR

RWA Wealth Partners LLC grew its stake in shares of The Progressive Corporation (NYSE:PGR) by 19.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,960 shares of the insurance provider’s stock after buying an additional 794 shares during the period. RWA Wealth Partners LLC’s holdings in Progressive were worth $1,324,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. AGF Management Ltd. raised its stake in Progressive by 218.1% during the 2nd quarter. AGF Management Ltd. now owns 77,193 shares of the insurance provider’s stock worth $20,600,000 after acquiring an additional 52,926 shares during the period. Van Cleef Asset Management Inc increased its stake in shares of Progressive by 1.7% in the second quarter. Van Cleef Asset Management Inc now owns 753,288 shares of the insurance provider’s stock worth $201,023,000 after purchasing an additional 12,432 shares in the last quarter. Bensler LLC raised its position in shares of Progressive by 3.5% during the 2nd quarter. Bensler LLC now owns 68,575 shares of the insurance provider’s stock valued at $18,300,000 after purchasing an additional 2,330 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Progressive during the 2nd quarter valued at $672,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Progressive by 83.9% during the 2nd quarter. Penserra Capital Management LLC now owns 7,123 shares of the insurance provider’s stock valued at $1,900,000 after buying an additional 3,250 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup cut their price target on Progressive from $312.00 to $301.38 and set a “buy” rating for the company in a research note on Thursday, October 16th. Zacks Research downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. increased their target price on Progressive from $301.00 to $303.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. BMO Capital Markets reissued a “market perform” rating on shares of Progressive in a research note on Monday, November 3rd. Finally, Bank of America upped their price target on Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $269.90.

Insider Activity at Progressive

In other Progressive news, insider John Jo Murphy sold 2,218 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $242.10, for a total transaction of $536,977.80. Following the completion of the transaction, the insider owned 43,506 shares in the company, valued at $10,532,802.60. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick K. Callahan sold 6,420 shares of Progressive stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the completion of the transaction, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. The trade was a 29.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,500 shares of company stock valued at $14,430,089 over the last quarter. 0.34% of the stock is currently owned by insiders.

Progressive Stock Performance

NYSE PGR opened at $217.16 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. The Progressive Corporation has a 1-year low of $199.90 and a 1-year high of $292.99. The business has a 50 day simple moving average of $233.53 and a two-hundred day simple moving average of $251.96. The stock has a market capitalization of $127.34 billion, a PE ratio of 11.91, 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 (EPS) for the quarter, missing the consensus estimate of $5.04 by ($0.59). The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the company earned $3.58 earnings per share. On average, research analysts predict that The Progressive Corporation will post 14.68 EPS for the current fiscal year.

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.