Daiwa Securities Group Inc. boosted its position in shares of Progressive Corporation (The) (NYSE:PGR) by 85.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,450 shares of the insurance provider’s stock after buying an additional 14,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Progressive Corporation (The) were worth $1,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of 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 worth $1,471,278,000 after buying an additional 1,357,926 shares during the last quarter. BlackRock Inc. boosted its position in shares of 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 worth $1,406,446,000 after buying an additional 34,666,678 shares during the last quarter. State Street Corp boosted its position in shares of 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 worth $1,057,724,000 after buying an additional 372,478 shares during the last quarter. Longview Partners Guernsey LTD boosted its position in shares of 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 worth $861,828,000 after buying an additional 1,035,246 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of 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 worth $323,399,000 after buying an additional 98,952 shares during the last quarter. 79.54% of the stock is owned by institutional investors and hedge funds.

Shares of Progressive Corporation (NYSE:PGR) opened at 48.04 on Thursday. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $48.04. The firm has a market cap of $27.91 billion, a PE ratio of 20.44 and a beta of 0.86. The company has a 50 day moving average price of $45.77 and a 200 day moving average price of $41.44.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 earnings per share. On average, analysts forecast that Progressive Corporation will post $2.43 earnings per share for the current fiscal year.

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A number of equities analysts have commented on PGR shares. UBS AG raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 13th. Zacks Investment Research cut Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. FBR & Co increased their target price on Progressive Corporation (The) from $35.00 to $36.00 and gave the company a “mkt perform” rating in a report on Wednesday, May 10th. Raymond James Financial, Inc. raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $45.00 to $52.00 in a report on Thursday, July 13th. Finally, Citigroup Inc. increased their target price on Progressive Corporation (The) from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. Two investment 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 stock. The company currently has a consensus rating of “Buy” and a consensus target price of $44.79.

In other Progressive Corporation (The) news, Director Jeffrey D. Kelly sold 20,000 shares of the business’s stock in a transaction 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 approximately $2,669,552.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Broz sold 1,100 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were 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 owns 8,955 shares of the company’s stock, valued at $372,080.25. 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 currently 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 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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