Advisor Partners LLC Has $504,000 Position in Progressive Corporation (The) (PGR)

Advisor Partners LLC increased its position in Progressive Corporation (The) (NYSE:PGR) by 6.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,428 shares of the insurance provider’s stock after buying an additional 686 shares during the period. Advisor Partners LLC’s holdings in Progressive Corporation (The) were worth $504,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PGR. Cypress Capital Management LLC WY acquired a new stake in Progressive Corporation (The) during the second quarter valued at $106,000. Howard Hughes Medical Institute acquired a new stake in Progressive Corporation (The) during the first quarter valued at $110,000. IFP Advisors Inc raised its position in shares of Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock valued at $132,000 after buying an additional 341 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock valued at $150,000 after buying an additional 133 shares during the period. Finally, Wendell David Associates Inc. purchased a new position in shares of Progressive Corporation (The) during the first quarter valued at approximately $204,000. 80.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of Progressive Corporation (NYSE PGR) traded up 0.25% during trading on Friday, hitting $48.63. The stock had a trading volume of 3,466,061 shares. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $48.98. The firm has a 50 day moving average price of $46.49 and a 200 day moving average price of $41.94. The firm has a market cap of $28.26 billion, a P/E ratio of 20.69 and a beta of 0.86.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. During the same period in the prior year, the business earned $0.33 earnings per share. Progressive Corporation (The)’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that Progressive Corporation will post $2.49 earnings per share for the current fiscal year.

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Several research firms recently issued reports on PGR. Citigroup Inc. increased their price objective on Progressive Corporation (The) from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays PLC raised their target price on Progressive Corporation (The) from $39.00 to $41.00 and gave the company an “underweight” rating in a research note on Friday, August 11th. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.21.

In other news, CFO John P. Sauerland sold 50,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $48.65, for a total value of $2,432,500.00. Following the transaction, the chief financial officer now owns 370,364 shares of the company’s stock, valued at approximately $18,018,208.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $45,705.00. Following the completion of the transaction, the insider now directly owns 8,955 shares in the company, valued at approximately $372,080.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,100 shares of company stock worth $7,304,205. 0.56% of the stock is currently owned by insiders.

Progressive Corporation (The) Company Profile

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)

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