State of New Jersey Common Pension Fund D maintained its position in Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the insurance provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Progressive Corporation (The) were worth $13,227,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Creative Planning increased its position in 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 buying an additional 23 shares during the period. Buckingham Asset Management LLC increased its position 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 buying an additional 25 shares during the last quarter. Financial Architects Inc increased its position 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 buying an additional 65 shares during the last quarter. Cleararc Capital Inc. increased its position 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 buying an additional 90 shares during the last quarter. Finally, ING Groep NV increased its position 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 buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.

Shares of Progressive Corporation (PGR) opened at 47.64 on Wednesday. Progressive Corporation has a 1-year low of $30.54 and a 1-year high of $47.77. The stock has a 50 day moving average price of $45.50 and a 200 day moving average price of $41.16. The firm has a market capitalization of $27.68 billion, a PE ratio of 20.27 and a beta of 0.86.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS 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 firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.78 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Progressive Corporation will post $2.43 earnings per share for the current fiscal year.

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Several brokerages have issued reports on PGR. FBR & Co lifted their price objective on Progressive Corporation (The) from $36.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Tuesday, July 11th. UBS AG upgraded Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Finally, Barclays PLC lifted their price objective on Progressive Corporation (The) from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Progressive Corporation (The) has an average rating of “Buy” and a consensus target price of $44.79.

In other news, insider Steven Broz sold 1,100 shares of the stock in a transaction on 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 transaction, the insider now directly owns 8,955 shares in the company, valued at approximately $372,080.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey D. Kelly sold 20,000 shares of the stock in a transaction on 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 transaction, the director now owns 59,963 shares of the company’s stock, 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 valued at $3,168,605 over the last quarter. 0.56% of the stock is owned by corporate insiders.

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

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