Progressive Corporation (The) (NYSE:PGR) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P grew its stake in Progressive Corporation (The) (NYSE:PGR) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 678,437 shares of the insurance provider’s stock after purchasing an additional 47,002 shares during the period. Martingale Asset Management L P owned approximately 0.12% of Progressive Corporation (The) worth $29,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PGR. BlackRock Inc. boosted its position in Progressive Corporation (The) by 2,817.6% during the first quarter. BlackRock Inc. now owns 35,897,019 shares of the insurance provider’s stock worth $1,406,446,000 after purchasing an additional 34,666,678 shares in the last quarter. William Blair Investment Management LLC boosted its position in Progressive Corporation (The) by 24,360.1% during the second quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock worth $211,591,000 after purchasing an additional 4,779,442 shares in the last quarter. Bank of Montreal Can boosted its position in Progressive Corporation (The) by 294.3% during the second quarter. Bank of Montreal Can now owns 2,790,503 shares of the insurance provider’s stock worth $123,034,000 after purchasing an additional 2,082,834 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Progressive Corporation (The) by 72.5% during the first quarter. TimesSquare Capital Management LLC now owns 4,605,710 shares of the insurance provider’s stock worth $180,452,000 after purchasing an additional 1,935,415 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Progressive Corporation (The) by 3.8% during the first quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock worth $1,471,278,000 after purchasing an additional 1,357,926 shares in the last quarter. 79.41% of the stock is currently owned by hedge funds and other institutional investors.

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In other Progressive Corporation (The) news, CFO John P. Sauerland sold 50,000 shares of the business’s stock in a transaction dated 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 directly owns 370,364 shares in the company, valued at $18,018,208.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,250 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total transaction of $60,912.50. Following the completion of the transaction, the insider now owns 12,181 shares in the company, valued at $593,580.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,250 shares of company stock worth $5,086,913. 0.56% of the stock is owned by corporate insiders.

Shares of Progressive Corporation (NYSE PGR) traded down 0.11% during trading on Friday, hitting $46.02. The stock had a trading volume of 3,690,372 shares. The stock’s 50 day moving average is $47.14 and its 200 day moving average is $43.13. Progressive Corporation has a 52 week low of $30.63 and a 52 week high of $49.01. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 19.58 and a beta of 0.88.

Progressive Corporation (The) (NYSE:PGR) last posted its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the 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 business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Progressive Corporation will post $2.47 earnings per share for the current fiscal year.

Several research firms recently commented on PGR. Barclays PLC upped their price target on Progressive Corporation (The) from $39.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. UBS AG upgraded Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. FBR & Co increased their target price on Progressive Corporation (The) from $36.00 to $40.00 and gave the company a “mkt perform” rating in a research note on Tuesday, July 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price 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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