Wendell David Associates Inc. Maintains Stake in Progressive Corporation (The) (NYSE:PGR)

Wendell David Associates Inc. maintained its stake in Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,200 shares of the insurance provider’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in Progressive Corporation (The) were worth $229,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PGR. Franklin Resources Inc. raised its stake in shares of Progressive Corporation (The) by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 52,804 shares of the insurance provider’s stock worth $1,874,000 after buying an additional 3,645 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Progressive Corporation (The) by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,250 shares of the insurance provider’s stock valued at $719,000 after buying an additional 1,230 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Progressive Corporation (The) during the fourth quarter valued at approximately $6,695,000. Ibex Wealth Advisors bought a new stake in shares of Progressive Corporation (The) during the fourth quarter valued at approximately $189,000. Finally, Wealthfront Inc. increased its stake in shares of Progressive Corporation (The) by 16.6% in the fourth quarter. Wealthfront Inc. now owns 14,534 shares of the insurance provider’s stock valued at $516,000 after buying an additional 2,067 shares during the last quarter. 79.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Progressive Corporation (PGR) traded down 1.01% during midday trading on Friday, reaching $47.23. The company’s stock had a trading volume of 2,943,218 shares. The stock’s 50-day moving average price is $45.95 and its 200-day moving average price is $41.56. The company has a market cap of $27.44 billion, a P/E ratio of 20.10 and a beta of 0.86. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $48.04.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.78 billion. During the same quarter in the previous year, the business posted $0.33 EPS. Progressive Corporation (The)’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Progressive Corporation will post $2.43 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first posted by BNB Daily and is the property of of BNB Daily. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.baseball-news-blog.com/2017/08/13/wendell-david-associates-inc-has-229000-stake-in-progressive-corporation-the-nysepgr-updated-updated-updated.html.

A number of research firms recently issued reports on PGR. MKM Partners reiterated a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Progressive Corporation (The) in a research report on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Progressive Corporation (The) in a research note on Thursday, May 18th. Bank of America Corporation upped their price objective on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, June 19th. Finally, BidaskClub lowered shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.93.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,100 shares of Progressive Corporation (The) stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $41.55, for a total value of $45,705.00. Following the completion of the transaction, the insider now directly owns 8,955 shares in the company, valued at $372,080.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William M. Cody sold 50,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $44.65, for a total value of $2,232,500.00. Following the completion of the transaction, the insider now owns 151,051 shares of the company’s stock, valued at $6,744,427.15. The disclosure for this sale can be found here. Insiders sold 71,100 shares of company stock worth $3,168,605 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

About Progressive Corporation (The)

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

Receive News & Ratings for Progressive Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply