Mizuho Asset Management Co. Ltd. boosted its stake in Progressive Corp. (NYSE:PGR) by 78.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,149 shares of the company’s stock after buying an additional 3,152 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Progressive Corp. were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PGR. Pacad Investment Ltd. boosted its position in Progressive Corp. by 293.2% in the first quarter. Pacad Investment Ltd. now owns 30,672 shares of the company’s stock valued at $1,078,000 after buying an additional 22,872 shares during the period. Cortland Associates Inc. MO purchased a new position in Progressive Corp. during the first quarter valued at approximately $218,000. Virginia Retirement System purchased a new position in Progressive Corp. during the first quarter valued at approximately $333,000. Nisa Investment Advisors L.L.C. boosted its position in Progressive Corp. by 51.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 310,590 shares of the company’s stock valued at $10,914,000 after buying an additional 105,000 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in Progressive Corp. during the first quarter valued at approximately $448,000. Hedge funds and other institutional investors own 76.60% of the company’s stock.

Shares of Progressive Corp. (NYSE:PGR) traded up 0.39% during midday trading on Tuesday, hitting $31.22. 179,174 shares of the company traded hands. Progressive Corp. has a 12-month low of $29.32 and a 12-month high of $35.54. The stock’s 50-day moving average is $32.63 and its 200 day moving average is $33.10. The stock has a market capitalization of $18.17 billion, a P/E ratio of 17.34 and a beta of 0.75.

Progressive Corp. (NYSE:PGR) last announced its earnings results on Thursday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $5.93 billion for the quarter. Progressive Corp. had a return on equity of 13.57% and a net margin of 4.80%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. On average, analysts expect that Progressive Corp. will post $1.62 earnings per share for the current year.

Several research firms have commented on PGR. Citigroup Inc. cut shares of Progressive Corp. from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $36.00 to $31.00 in a research report on Thursday, June 2nd. Argus reaffirmed a “hold” rating and issued a $33.00 price target on shares of Progressive Corp. in a research note on Monday, July 18th. Credit Suisse Group AG set a $28.00 price target on shares of Progressive Corp. and gave the stock a “sell” rating in a research note on Tuesday, August 23rd. Zacks Investment Research lowered shares of Progressive Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, MKM Partners reaffirmed a “buy” rating and issued a $40.00 price target on shares of Progressive Corp. in a research note on Thursday, June 23rd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.14.

In other Progressive Corp. news, Director Bradley T. Sheares sold 19,564 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $31.96, for a total value of $625,265.44. Following the completion of the sale, the director now owns 4,964 shares in the company, valued at approximately $158,649.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John A. Barbagallo sold 24,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $33.01, for a total transaction of $792,240.00. Following the completion of the sale, the insider now owns 148,139 shares of the company’s stock, valued at approximately $4,890,068.39. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Progressive Corp. 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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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

Receive News & Ratings for Progressive Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.