Natixis Asset Management reduced its position in Progressive Corporation (The) (NYSE:PGR) by 32.7% during the third quarter, Holdings Channel reports. The firm owned 32,172 shares of the company’s stock after selling 15,614 shares during the period. Natixis Asset Management’s holdings in Progressive Corporation (The) were worth $1,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PGR. Cornerstone Advisors Inc. raised its stake in shares of Progressive Corporation (The) by 25.3% in the third quarter. Cornerstone Advisors Inc. now owns 3,271 shares of the company’s stock worth $103,000 after buying an additional 660 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Progressive Corporation (The) during the second quarter worth approximately $108,000. MSI Financial Services Inc raised its stake in shares of Progressive Corporation (The) by 37.2% in the third quarter. MSI Financial Services Inc now owns 3,447 shares of the company’s stock worth $109,000 after buying an additional 935 shares during the period. Financial Architects Inc raised its stake in shares of Progressive Corporation (The) by 1,471.7% in the second quarter. Financial Architects Inc now owns 3,992 shares of the company’s stock worth $134,000 after buying an additional 3,738 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Progressive Corporation (The) by 24.2% in the second quarter. Van ECK Associates Corp now owns 4,833 shares of the company’s stock worth $162,000 after buying an additional 943 shares during the period. Hedge funds and other institutional investors own 75.87% of the company’s stock.

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

Progressive Corporation (NYSE:PGR) traded up 0.14% during midday trading on Friday, reaching $36.25. 1,208,163 shares of the company’s stock traded hands. The stock has a market cap of $21.05 billion, a PE ratio of 21.69 and a beta of 0.76. Progressive Corporation has a one year low of $29.32 and a one year high of $36.59. The stock’s 50 day moving average price is $34.96 and its 200-day moving average price is $32.98.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data on Thursday, October 13th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by $0.02. The firm had revenue of $6.05 billion for the quarter. Progressive Corporation (The) had a net margin of 4.31% and a return on equity of 12.30%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 earnings per share. Equities analysts predict that Progressive Corporation will post $1.57 earnings per share for the current year.

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PGR has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Progressive Corporation (The) from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Deutsche Bank AG decreased their price target on shares of Progressive Corporation (The) from $30.00 to $28.00 and set a “sell” rating for the company in a research note on Monday, September 19th. Credit Suisse Group set a $28.00 price target on shares of Progressive Corporation (The) and gave the company a “sell” rating in a research note on Friday, October 7th. Keefe, Bruyette & Woods upgraded shares of Progressive Corporation (The) from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $29.00 to $31.00 in a research note on Thursday, September 15th. Finally, Citigroup Inc. upgraded shares of Progressive Corporation (The) from a “sell” rating to a “neutral” rating and boosted their price target for the company from $30.00 to $34.00 in a research note on Friday, October 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.22.

In other news, insider Valerie A. Krasowski sold 10,500 shares of Progressive Corporation (The) stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $35.78, for a total value of $375,690.00. Following the completion of the transaction, the insider now owns 145,810 shares of the company’s stock, valued at approximately $5,217,081.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is 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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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