Cornerstone Capital Management Holdings LLC. raised its holdings in Progressive Corp (NYSE:PGR) by 65.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 472,767 shares of the insurance provider’s stock after acquiring an additional 186,676 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.08% of Progressive worth $22,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Lockheed Martin Investment Management Co. purchased a new stake in shares of Progressive in the 3rd quarter worth $872,000. Meeder Asset Management Inc. lifted its holdings in shares of Progressive by 126.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 96,585 shares of the insurance provider’s stock worth $4,677,000 after buying an additional 53,917 shares during the period. National Planning Corp lifted its holdings in shares of Progressive by 28.0% in the 2nd quarter. National Planning Corp now owns 9,125 shares of the insurance provider’s stock worth $404,000 after buying an additional 1,995 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Progressive by 1.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,038,766 shares of the insurance provider’s stock worth $310,340,000 after buying an additional 79,773 shares during the period. Finally, Martingale Asset Management L P lifted its holdings in shares of Progressive by 7.4% in the 2nd quarter. Martingale Asset Management L P now owns 678,437 shares of the insurance provider’s stock worth $29,913,000 after buying an additional 47,002 shares during the period. 79.55% of the stock is currently owned by institutional investors.

Shares of Progressive Corp (NYSE PGR) opened at $54.99 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive Corp has a 12 month low of $33.86 and a 12 month high of $54.99. The company has a market capitalization of $31,982.18, a PE ratio of 24.01, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Progressive had a return on equity of 15.40% and a net margin of 5.41%. The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. During the same period last year, the business posted $0.34 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. equities research analysts predict that Progressive Corp will post 2.4 EPS for the current year.

In other Progressive news, insider M Jeffrey Charney sold 6,000 shares of the stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $48.90, for a total value of $293,400.00. Following the completion of the sale, the insider now directly owns 108,038 shares in the company, valued at $5,283,058.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the sale, the insider now owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,000 shares of company stock valued at $1,024,470. 0.56% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on the company. FBR & Co reiterated a “hold” rating on shares of Progressive in a report on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $60.00 target price on shares of Progressive in a report on Wednesday. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive in a report on Wednesday, August 16th. MKM Partners upped their target price on Progressive to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, UBS decreased their price objective on Progressive from $53.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.82.

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Progressive 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.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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