The Progressive Corporation $PGR Shares Sold by SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 47.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,252 shares of the insurance provider’s stock after selling 5,626 shares during the quarter. Progressive makes up 1.2% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co’s portfolio, making the stock its 14th largest holding. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co’s holdings in Progressive were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Ensign Peak Advisors Inc grew its stake in Progressive by 13.3% during the 2nd quarter. Ensign Peak Advisors Inc now owns 490,655 shares of the insurance provider’s stock worth $130,936,000 after buying an additional 57,625 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Progressive by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 3,930,536 shares of the insurance provider’s stock valued at $1,048,903,000 after acquiring an additional 34,701 shares during the period. Empirical Finance LLC boosted its holdings in shares of Progressive by 0.6% during the second quarter. Empirical Finance LLC now owns 20,290 shares of the insurance provider’s stock valued at $5,415,000 after acquiring an additional 129 shares during the period. ARS Investment Partners LLC bought a new position in shares of Progressive during the second quarter worth about $201,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Progressive by 468.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 62,757 shares of the insurance provider’s stock worth $16,576,000 after acquiring an additional 51,724 shares during the period. Institutional investors own 85.34% of the company’s stock.

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 1,345 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $220.00, for a total transaction of $295,900.00. Following the completion of the sale, the insider directly owned 29,043 shares of the company’s stock, valued at $6,389,460. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Jo Murphy sold 2,218 shares of Progressive stock in a transaction that occurred on Friday, September 19th. The stock was 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 approximately $10,532,802.60. This trade represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,782 shares of company stock valued at $12,708,788 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price objective on shares of Progressive from $262.00 to $246.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. UBS Group cut their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Cantor Fitzgerald upgraded Progressive to a “hold” rating in a research report on Wednesday, August 13th. BMO Capital Markets reissued a “market perform” rating on shares of Progressive in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their target price on Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $265.65.

Progressive Trading Down 0.8%

Shares of Progressive stock opened at $223.00 on Thursday. The business has a fifty day simple moving average of $229.78 and a 200-day simple moving average of $249.23. The Progressive Corporation has a fifty-two week low of $199.90 and a fifty-two week high of $292.99. The firm has a market cap of $130.77 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.64 billion. During the same quarter last year, the firm posted $3.58 earnings per share. On average, equities analysts forecast 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.