California Public Employees Retirement System boosted its holdings in shares of Progressive Corporation (The) (NYSE:PGR) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,420,211 shares of the insurance provider’s stock after acquiring an additional 31,400 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Progressive Corporation (The) worth $62,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PGR. BlackRock Inc. lifted its holdings 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 valued at $1,406,446,000 after purchasing an additional 34,666,678 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Progressive Corporation (The) by 24,360.1% in the second quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock valued at $211,591,000 after purchasing an additional 4,779,442 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Progressive Corporation (The) by 40.4% in the second quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after purchasing an additional 3,332,180 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Progressive Corporation (The) by 294.3% in the second quarter. Bank of Montreal Can now owns 2,790,503 shares of the insurance provider’s stock valued at $123,034,000 after purchasing an additional 2,082,834 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Progressive Corporation (The) by 72.5% in the first quarter. TimesSquare Capital Management LLC now owns 4,605,710 shares of the insurance provider’s stock valued at $180,452,000 after purchasing an additional 1,935,415 shares in the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.

A number of analysts have recently commented on PGR shares. ValuEngine upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Wells Fargo & Company restated a “hold” rating and issued a $45.00 price target on shares of Progressive Corporation (The) in a report on Tuesday, July 18th. Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target (up from $40.00) on shares of Progressive Corporation (The) in a report on Friday, July 7th. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Finally, Barclays PLC boosted their price target on Progressive Corporation (The) from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $46.00.

TRADEMARK VIOLATION NOTICE: This report was first reported by Daily Political and is owned by of Daily Political. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.dailypolitical.com/2017/09/23/progressive-corporation-the-pgr-holdings-lifted-by-california-public-employees-retirement-system.html.

In related news, CFO John P. Sauerland sold 50,000 shares of the firm’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 transaction, the chief financial officer now owns 370,364 shares of the company’s stock, valued at approximately $18,018,208.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey D. Kelly sold 20,000 shares of the firm’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 transaction, 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. In the last ninety days, insiders sold 106,250 shares of company stock worth $5,086,913. 0.56% of the stock is owned by insiders.

Shares of Progressive Corporation (NYSE:PGR) opened at 47.98 on Friday. The firm has a market cap of $27.88 billion, a P/E ratio of 20.42 and a beta of 0.88. The company has a 50 day moving average price of $47.13 and a 200-day moving average price of $43.28. Progressive Corporation has a 52-week low of $30.63 and a 52-week high of $49.01.

Progressive Corporation (The) (NYSE:PGR) last announced 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). 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 the consensus estimate of $6.78 billion. During the same period in the previous year, the business posted $0.33 EPS. Progressive Corporation (The)’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Progressive Corporation will post $2.31 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progressive Corporation (The) (NYSE:PGR).

Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

Receive News & Ratings for Progressive Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.