Cottonwood Capital Advisors LLC Sells 250 Shares of The Progressive Corporation (NYSE:PGR)

Cottonwood Capital Advisors LLC lowered its position in The Progressive Corporation (NYSE:PGR) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,691 shares of the insurance provider’s stock after selling 250 shares during the period. Cottonwood Capital Advisors LLC’s holdings in Progressive were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive in the 4th quarter worth about $269,000. Highview Capital Management LLC DE lifted its position in Progressive by 3.2% in the 4th quarter. Highview Capital Management LLC DE now owns 11,040 shares of the insurance provider’s stock valued at $2,645,000 after acquiring an additional 339 shares in the last quarter. MONECO Advisors LLC boosted its stake in Progressive by 14.5% during the 4th quarter. MONECO Advisors LLC now owns 1,226 shares of the insurance provider’s stock valued at $294,000 after purchasing an additional 155 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Progressive by 11.0% during the 4th quarter. IFP Advisors Inc now owns 4,808 shares of the insurance provider’s stock worth $1,152,000 after purchasing an additional 478 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PGR shares. Jefferies Financial Group cut their target price on Progressive from $327.00 to $319.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Barclays upped their target price on shares of Progressive from $285.00 to $297.00 and gave the stock an “equal weight” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Progressive from $267.00 to $287.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Progressive from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. Finally, Wells Fargo & Company boosted their target price on Progressive from $328.00 to $333.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $288.88.

Progressive Price Performance

PGR opened at $259.67 on Thursday. The firm has a 50-day moving average price of $274.56 and a 200-day moving average price of $264.55. The Progressive Corporation has a twelve month low of $204.88 and a twelve month high of $292.99. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $152.22 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.64 and a beta of 0.40.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $21.87 billion. Equities analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Insider Buying and Selling

In other news, Director Stuart B. Burgdoerfer sold 3,681 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $260.43, for a total value of $958,642.83. Following the transaction, the director now owns 12,217 shares of the company’s stock, valued at approximately $3,181,673.31. This represents a 23.15% 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, insider Steven Broz sold 1,267 shares of Progressive stock in a transaction on 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 of the company’s stock, valued at $8,025,375.28. This represents a 4.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,705 shares of company stock valued at $11,572,448. Corporate insiders own 0.34% of the company’s stock.

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.