CW Advisors LLC Has $4.78 Million Stake in The Progressive Corporation $PGR

CW Advisors LLC lifted its stake in The Progressive Corporation (NYSE:PGR) by 63.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,944 shares of the insurance provider’s stock after purchasing an additional 6,983 shares during the quarter. CW Advisors LLC’s holdings in Progressive were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive during the fourth quarter valued at $269,000. Bison Wealth LLC grew its stake in Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new position in Progressive in the first quarter valued at about $845,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Progressive by 7.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,586 shares of the insurance provider’s stock worth $454,000 after purchasing an additional 115 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Stock Performance

Shares of PGR opened at $222.85 on Friday. The company has a market capitalization of $130.68 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.29 and a quick ratio of 0.29. The Progressive Corporation has a one year low of $199.90 and a one year high of $292.99. The company’s fifty day moving average price is $225.88 and its 200 day moving average price is $244.78.

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

Wall Street Analysts Forecast Growth

PGR has been the subject of several recent research reports. Morgan Stanley set a $214.00 price target on Progressive and gave the company an “underweight” rating in a research note on Monday, October 20th. Wall Street Zen downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Keefe, Bruyette & Woods cut their price target on shares of Progressive from $262.00 to $246.00 and set a “market perform” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Zacks Research downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Progressive has a consensus rating of “Hold” and an average target price of $266.52.

Insiders Place Their Bets

In other Progressive news, insider Patrick K. Callahan sold 6,420 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the sale, the insider owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This trade represents a 29.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the transaction, the chief financial officer owned 223,024 shares of the company’s stock, valued at approximately $50,956,523.52. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,673 shares of company stock worth $4,163,005 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.