Amalgamated Bank boosted its position in shares of Progressive Corporation (The) (NYSE:PGR) by 65.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,139 shares of the insurance provider’s stock after buying an additional 27,002 shares during the quarter. Amalgamated Bank’s holdings in Progressive Corporation (The) were worth $3,004,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cypress Capital Management LLC WY acquired a new stake in Progressive Corporation (The) during the second quarter valued at $106,000. IFP Advisors Inc grew its position in Progressive Corporation (The) by 12.9% during the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock valued at $132,000 after buying an additional 341 shares during the period. Fiduciary Trust Co. acquired a new stake in Progressive Corporation (The) during the second quarter valued at $143,000. Cornerstone Advisors Inc. grew its position in shares of Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock valued at $150,000 after purchasing an additional 133 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in shares of Progressive Corporation (The) in the second quarter valued at about $186,000. Institutional investors own 79.41% of the company’s stock.

Several brokerages have recently issued reports on PGR. Citigroup Inc. lifted their target price on shares of Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Barclays PLC lifted their target price on shares of Progressive Corporation (The) from $39.00 to $41.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.87.

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Progressive Corporation (NYSE PGR) traded down 0.11% during trading on Friday, reaching $46.02. 3,690,372 shares of the company were exchanged. The firm has a market capitalization of $26.74 billion, a PE ratio of 19.58 and a beta of 0.88. The stock has a 50 day moving average price of $47.14 and a 200 day moving average price of $43.13. Progressive Corporation has a 12 month low of $30.63 and a 12 month high of $49.01.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data 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). 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%. Progressive Corporation (The)’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts expect that Progressive Corporation will post $2.47 EPS for the current fiscal year.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total transaction of $60,912.50. Following the sale, the insider now directly owns 12,181 shares of the company’s stock, valued at approximately $593,580.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Patricia Griffith sold 35,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $48.66, for a total transaction of $1,703,100.00. Following the sale, the insider now directly owns 221,715 shares in the company, valued at $10,788,651.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,250 shares of company stock worth $5,086,913. 0.56% of the stock is owned by corporate 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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