Progressive Corporation (The) (NYSE:PGR) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.91 and last traded at $47.91, with a volume of 1,244,383 shares. The stock had previously closed at $47.64.

A number of research firms have recently issued reports on PGR. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive Corporation (The) in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Wednesday, August 2nd. BidaskClub lowered shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 target price on shares of Progressive Corporation (The) in a report on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 target price (up previously from $43.00) on shares of Progressive Corporation (The) in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $44.79.

The stock has a market capitalization of $27.87 billion, a PE ratio of 20.41 and a beta of 0.86. The stock’s 50 day moving average price is $45.50 and its 200 day moving average price is $41.16.

Progressive Corporation (The) (NYSE:PGR) last announced its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the 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 firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.78 billion. During the same period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Progressive Corporation will post $2.43 EPS for the current fiscal year.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,100 shares of Progressive Corporation (The) stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $41.55, for a total value of $45,705.00. Following the completion of the sale, the insider now owns 8,955 shares in the company, valued at approximately $372,080.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Kelly sold 20,000 shares of Progressive Corporation (The) stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $44.52, for a total value of $890,400.00. Following the completion of the sale, the director now owns 59,963 shares of the company’s stock, valued at approximately $2,669,552.76. The disclosure for this sale can be found here. Insiders sold a total of 71,100 shares of company stock valued at $3,168,605 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Progressive Corporation (The) by 3.8% in the first quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock valued at $1,471,278,000 after buying an additional 1,357,926 shares during the period. BlackRock Inc. boosted its stake in Progressive Corporation (The) by 2,817.6% in the first quarter. BlackRock Inc. now owns 35,897,019 shares of the insurance provider’s stock valued at $1,406,446,000 after buying an additional 34,666,678 shares during the period. State Street Corp boosted its stake in Progressive Corporation (The) by 1.4% in the first quarter. State Street Corp now owns 26,996,546 shares of the insurance provider’s stock valued at $1,057,724,000 after buying an additional 372,478 shares during the period. Longview Partners Guernsey LTD boosted its stake in Progressive Corporation (The) by 5.6% in the second quarter. Longview Partners Guernsey LTD now owns 19,547,018 shares of the insurance provider’s stock valued at $861,828,000 after buying an additional 1,035,246 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Progressive Corporation (The) by 1.2% in the first quarter. Artisan Partners Limited Partnership now owns 8,254,185 shares of the insurance provider’s stock valued at $323,399,000 after buying an additional 98,952 shares during the period. Institutional investors own 79.54% of the company’s stock.

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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.

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