KCG Holdings Inc. raised its position in Progressive Corporation (The) (NYSE:PGR) by 407.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,571 shares of the company’s stock after buying an additional 54,264 shares during the period. KCG Holdings Inc.’s holdings in Progressive Corporation (The) were worth $2,128,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its stake in shares of Progressive Corporation (The) by 25.3% in the third quarter. Cornerstone Advisors Inc. now owns 3,271 shares of the company’s stock worth $103,000 after buying an additional 660 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Progressive Corporation (The) during the second quarter worth about $108,000. MSI Financial Services Inc increased its stake in shares of Progressive Corporation (The) by 37.2% in the third quarter. MSI Financial Services Inc now owns 3,447 shares of the company’s stock worth $109,000 after buying an additional 935 shares during the period. Financial Architects Inc increased its stake in shares of Progressive Corporation (The) by 1,471.7% in the second quarter. Financial Architects Inc now owns 3,992 shares of the company’s stock worth $134,000 after buying an additional 3,738 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Progressive Corporation (The) by 24.2% in the second quarter. Van ECK Associates Corp now owns 4,833 shares of the company’s stock worth $162,000 after buying an additional 943 shares during the period. Hedge funds and other institutional investors own 75.87% of the company’s stock.

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

Progressive Corporation (NYSE:PGR) traded up 0.11% during trading on Friday, reaching $36.24. 840,528 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $34.96 and its 200-day moving average price is $32.98. Progressive Corporation has a one year low of $29.32 and a one year high of $36.59. The stock has a market cap of $21.05 billion, a P/E ratio of 21.69 and a beta of 0.76.

Progressive Corporation (The) (NYSE:PGR) last announced its earnings results on Thursday, October 13th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The business earned $6.05 billion during the quarter. Progressive Corporation (The) had a net margin of 4.31% and a return on equity of 12.30%. Progressive Corporation (The)’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. On average, equities analysts anticipate that Progressive Corporation will post $1.57 earnings per share for the current fiscal year.

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PGR has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised shares of Progressive Corporation (The) from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $29.00 to $31.00 in a report on Thursday, September 15th. Credit Suisse Group set a $28.00 price target on shares of Progressive Corporation (The) and gave the stock a “sell” rating in a report on Saturday, September 17th. Zacks Investment Research downgraded shares of Progressive Corporation (The) from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Deutsche Bank AG lowered their price target on shares of Progressive Corporation (The) from $30.00 to $28.00 and set a “sell” rating on the stock in a report on Monday, September 19th. Finally, Citigroup Inc. raised shares of Progressive Corporation (The) from a “sell” rating to a “neutral” rating and increased their price target for the stock from $30.00 to $34.00 in a report on Friday, October 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.22.

In other news, insider Valerie A. Krasowski sold 10,500 shares of Progressive Corporation (The) stock in a transaction on Monday, December 19th. The shares were sold at an average price of $35.78, for a total value of $375,690.00. Following the transaction, the insider now directly owns 145,810 shares of the company’s stock, valued at approximately $5,217,081.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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