Pekin Singer Strauss Asset Management IL continued to hold its stake in shares of Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,000 shares of the insurance provider’s stock at the end of the second quarter. Pekin Singer Strauss Asset Management IL’s holdings in Progressive Corporation (The) were worth $353,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning boosted its position in Progressive Corporation (The) by 109.0% in the first quarter. Creative Planning now owns 5,700 shares of the insurance provider’s stock worth $223,000 after buying an additional 2,973 shares in the last quarter. Blair William & Co. IL boosted its position in Progressive Corporation (The) by 327.8% in the first quarter. Blair William & Co. IL now owns 709,836 shares of the insurance provider’s stock worth $27,811,000 after buying an additional 543,916 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $1,471,278,000 after buying an additional 1,357,926 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in Progressive Corporation (The) by 2.3% in the first quarter. Wetherby Asset Management Inc. now owns 16,188 shares of the insurance provider’s stock worth $634,000 after buying an additional 368 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Progressive Corporation (The) by 158.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 370,987 shares of the insurance provider’s stock worth $14,535,000 after buying an additional 227,438 shares in the last quarter. 79.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Progressive Corporation (NYSE:PGR) opened at 47.23 on Friday. Progressive Corporation has a 12 month low of $30.54 and a 12 month high of $48.04. The stock has a 50 day moving average of $45.95 and a 200-day moving average of $41.56. The firm has a market capitalization of $27.44 billion, a PE ratio of 20.10 and a beta of 0.86.

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

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PGR has been the subject of a number of research analyst reports. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research report on Tuesday, April 18th. Zacks Investment Research cut shares of Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. FBR & Co upped their price objective on shares of Progressive Corporation (The) from $35.00 to $36.00 and gave the stock a “mkt perform” rating in a research report on Wednesday, May 10th. Deutsche Bank AG upgraded shares of Progressive Corporation (The) from a “sell” rating to a “hold” rating and upped their price objective for the stock from $35.00 to $40.00 in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $48.00 price objective on shares of Progressive Corporation (The) in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Progressive Corporation (The) presently has a consensus rating of “Buy” and an average price target of $44.93.

In related news, insider William M. Cody sold 50,000 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $44.65, for a total value of $2,232,500.00. Following the completion of the transaction, the insider now owns 151,051 shares of the company’s stock, valued at approximately $6,744,427.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 1,100 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $41.55, for a total transaction of $45,705.00. Following the completion of the transaction, the insider now directly owns 8,955 shares of the company’s stock, valued at approximately $372,080.25. 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 quarter. Insiders own 0.56% of the company’s stock.

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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