ClariVest Asset Management LLC increased its stake in Progressive Corporation (The) (NYSE:PGR) by 147,870.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 316,656 shares of the insurance provider’s stock after buying an additional 316,442 shares during the period. ClariVest Asset Management LLC’s holdings in Progressive Corporation (The) were worth $13,962,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Creative Planning raised its stake in shares of Progressive Corporation (The) by 109.0% in the first quarter. Creative Planning now owns 5,700 shares of the insurance provider’s stock valued at $223,000 after buying an additional 2,973 shares during the last quarter. Blair William & Co. IL raised 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. raised 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. raised 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 raised 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. Institutional investors own 79.54% of the company’s stock.

Progressive Corporation (NYSE PGR) opened at 47.23 on Friday. The firm has a 50-day moving average of $45.95 and a 200 day moving average of $41.56. Progressive Corporation has a one year low of $30.54 and a one year high of $48.04. The company has a market capitalization of $27.44 billion, a P/E 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 Thomson Reuters’ 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 business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same quarter last year, the business earned $0.33 EPS. Progressive Corporation (The)’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Progressive Corporation will post $2.43 EPS for the current fiscal year.

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A number of research firms recently weighed in on PGR. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday, August 2nd. Citigroup Inc. lifted their price objective on shares of Progressive Corporation (The) from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 price objective on shares of Progressive Corporation (The) in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $44.93.

In related news, insider Steven Broz sold 1,100 shares of Progressive Corporation (The) 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 sale, the insider now owns 8,955 shares in the company, valued at approximately $372,080.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $890,400.00. Following 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 90 days. Company 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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