Traders bought shares of Progressive Corporation (The) (NYSE:PGR) on weakness during trading hours on Thursday. $53.96 million flowed into the stock on the tick-up and $31.87 million flowed out of the stock on the tick-down, for a money net flow of $22.09 million into the stock. Of all stocks tracked, Progressive Corporation (The) had the 26th highest net in-flow for the day. Progressive Corporation (The) traded down ($0.09) for the day and closed at $46.48

Several equities research analysts have weighed in on PGR shares. Deutsche Bank AG raised Progressive Corporation (The) from a “sell” rating to a “hold” rating and increased their price target for the stock from $35.00 to $40.00 in a research report on Wednesday, May 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price target (up from $43.00) on shares of Progressive Corporation (The) in a research report on Saturday, July 22nd. BidaskClub raised Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, June 19th. Finally, Raymond James Financial, Inc. raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $45.00 to $52.00 in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.21.

The firm’s 50-day moving average price is $47.27 and its 200 day moving average price is $42.69. The company has a market cap of $26.53 billion, a PE ratio of 19.43 and a beta of 0.88.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) 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 business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.78 billion. During the same period last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Progressive Corporation will post $2.52 earnings per share for the current fiscal year.

In other Progressive Corporation (The) news, CFO John P. Sauerland sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $48.65, for a total value of $2,432,500.00. Following the sale, the chief financial officer now owns 370,364 shares of the company’s stock, valued at $18,018,208.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey D. Kelly sold 20,000 shares of the company’s 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 completion of the sale, the director now directly owns 59,963 shares in the company, valued at approximately $2,669,552.76. The disclosure for this sale can be found here. Insiders sold 156,250 shares of company stock worth $7,319,413 in the last ninety days. Insiders own 0.56% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Creative Planning increased its stake in shares of 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 stake 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 period. Financial Architects Inc increased its stake 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 period. Cleararc Capital Inc. increased its stake 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 period. Finally, ING Groep NV increased its stake 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 period. 79.40% of the stock is currently owned by institutional investors.

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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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