Progressive Corporation (The) (NYSE:PGR) Position Boosted by Great Lakes Advisors LLC

Great Lakes Advisors LLC grew its stake in Progressive Corporation (The) (NYSE:PGR) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,225 shares of the insurance provider’s stock after purchasing an additional 295 shares during the quarter. Great Lakes Advisors LLC’s holdings in Progressive Corporation (The) were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning raised its position in shares of Progressive Corporation (The) by 0.4% in the second quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 23 shares during the period. Buckingham Asset Management LLC grew its stake in shares of Progressive Corporation (The) by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 8,937 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 25 shares in the last quarter. Financial Architects Inc grew its stake in shares of Progressive Corporation (The) by 0.4% in the second quarter. Financial Architects Inc now owns 18,187 shares of the insurance provider’s stock valued at $801,000 after acquiring an additional 65 shares in the last quarter. Cleararc Capital Inc. grew its stake in shares of Progressive Corporation (The) by 0.6% in the first quarter. Cleararc Capital Inc. now owns 14,188 shares of the insurance provider’s stock valued at $556,000 after acquiring an additional 90 shares in the last quarter. Finally, ING Groep NV grew its stake in shares of Progressive Corporation (The) by 0.3% in the second quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock valued at $1,751,000 after acquiring an additional 112 shares in the last quarter. 79.41% of the stock is currently owned by institutional investors.

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Progressive Corporation (NYSE PGR) opened at 46.06 on Friday. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 19.60 and a beta of 0.88. Progressive Corporation has a one year low of $30.63 and a one year high of $49.01. The company has a 50-day moving average of $47.14 and a 200-day moving average of $43.08.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. Equities research analysts expect that Progressive Corporation will post $2.47 EPS for the current fiscal year.

In other Progressive Corporation (The) news, Director Jeffrey D. Kelly sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $44.52, for a total transaction of $890,400.00. Following the completion of the transaction, the director now owns 59,963 shares in the company, valued at approximately $2,669,552.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John P. Sauerland sold 50,000 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold a total of 106,250 shares of company stock worth $5,086,913 in the last three months. 0.56% of the stock is owned by corporate insiders.

Several equities analysts recently commented on PGR shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price target on shares of Progressive Corporation (The) in a research note on Thursday, May 18th. MKM Partners restated a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Progressive Corporation (The) in a research note on Friday, June 9th. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Wednesday, June 14th. Bank of America Corporation upped their price target on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Finally, BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Three research analysts have rated the stock with a sell rating, five have assigned 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 an average price target of $44.87.

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)

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