Woodmont Investment Counsel LLC Has $927,000 Holdings in The Progressive Corporation (NYSE:PGR)

Woodmont Investment Counsel LLC cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,274 shares of the insurance provider’s stock after selling 95 shares during the period. Woodmont Investment Counsel LLC’s holdings in Progressive were worth $927,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PGR. Highline Wealth Partners LLC boosted its stake in shares of Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider’s stock valued at $26,000 after buying an additional 49 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of Progressive in the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in shares of Progressive in the fourth quarter valued at approximately $32,000. Global Wealth Strategies & Associates boosted its stake in shares of Progressive by 119.0% in the first quarter. Global Wealth Strategies & Associates now owns 138 shares of the insurance provider’s stock valued at $39,000 after buying an additional 75 shares during the period. Finally, Rialto Wealth Management LLC acquired a new position in Progressive during the fourth quarter valued at approximately $43,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PGR. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Morgan Stanley set a $330.00 target price on shares of Progressive and gave the stock an “overweight” rating in a research note on Monday, May 19th. Roth Mkm boosted their target price on shares of Progressive from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Jefferies Financial Group decreased their target price on shares of Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Saturday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progressive has a consensus rating of “Moderate Buy” and a consensus price target of $288.88.

Insider Buying and Selling

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $268.59, for a total transaction of $2,685,900.00. Following the sale, the chief financial officer now directly owns 248,024 shares of the company’s stock, valued at $66,616,766.16. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 1,267 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $277.81, for a total value of $351,985.27. Following the sale, the insider now directly owns 28,888 shares in the company, valued at approximately $8,025,375.28. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,157 shares of company stock valued at $9,352,400. 0.34% of the stock is owned by company insiders.

Progressive Trading Up 0.4%

Progressive stock opened at $261.26 on Friday. The business’s fifty day simple moving average is $275.34 and its two-hundred day simple moving average is $264.44. The company has a market capitalization of $153.15 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The Progressive Corporation has a 12 month low of $204.88 and a 12 month high of $292.99. 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 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. The business had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. As a group, equities analysts predict that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Progressive Company 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.