Peak Asset Management LLC raised its position in Progressive Corporation (The) (NYSE:PGR) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,486 shares of the insurance provider’s stock after buying an additional 147 shares during the period. Peak Asset Management LLC’s holdings in Progressive Corporation (The) were worth $286,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cypress Capital Management LLC WY acquired a new stake in Progressive Corporation (The) during the second quarter worth about $106,000. Howard Hughes Medical Institute acquired a new stake in Progressive Corporation (The) during the first quarter worth about $110,000. IFP Advisors Inc increased its stake in Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after buying an additional 341 shares during the period. Cornerstone Advisors Inc. increased its stake in Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after buying an additional 133 shares during the period. Finally, Wendell David Associates Inc. acquired a new stake in Progressive Corporation (The) during the first quarter worth about $204,000. 79.19% of the stock is owned by hedge funds and other institutional investors.

Progressive Corporation (NYSE:PGR) opened at 47.71 on Friday. The stock’s 50 day moving average price is $45.22 and its 200 day moving average price is $41.02. The stock has a market capitalization of $27.72 billion, a PE ratio of 20.30 and a beta of 0.86. Progressive Corporation has a 1-year low of $30.54 and a 1-year high of $47.75.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data 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 company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.78 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Equities research analysts forecast that Progressive Corporation will post $2.43 earnings per share for the current year.

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PGR has been the subject of a number of research analyst reports. MKM Partners reissued a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Progressive Corporation (The) in a research report on Friday, June 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $48.00 target price on shares of Progressive Corporation (The) in a research report on Thursday, May 18th. Zacks Investment Research raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Monday, June 19th. Bank of America Corporation increased their price objective on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, BidaskClub downgraded shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.79.

In other Progressive Corporation (The) news, insider William M. Cody sold 50,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $44.65, for a total value of $2,232,500.00. Following the transaction, the insider now directly owns 151,051 shares of the company’s stock, valued at approximately $6,744,427.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey D. Kelly sold 20,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $44.52, for a total value of $890,400.00. Following the completion of the transaction, the director now directly owns 59,963 shares in the company, valued at $2,669,552.76. The disclosure for this sale can be found here. Insiders sold a total of 71,100 shares of company stock worth $3,168,605 over the last three months. 0.56% of the stock is owned by company 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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