Foster Dykema Cabot & Co. Inc. MA continued to hold its stake in shares of Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,132 shares of the insurance provider’s stock at the end of the second quarter. Foster Dykema Cabot & Co. Inc. MA’s holdings in Progressive Corporation (The) were worth $270,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PGR. Rhumbline Advisers boosted its stake in shares of Progressive Corporation (The) by 6.9% in the second quarter. Rhumbline Advisers now owns 1,259,251 shares of the insurance provider’s stock worth $55,520,000 after buying an additional 81,786 shares during the period. Smith Asset Management Group LP purchased a new stake in shares of Progressive Corporation (The) during the second quarter worth about $43,595,000. Teacher Retirement System of Texas boosted its stake in shares of Progressive Corporation (The) by 556.1% in the second quarter. Teacher Retirement System of Texas now owns 130,673 shares of the insurance provider’s stock worth $5,761,000 after buying an additional 110,757 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Progressive Corporation (The) by 6.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,222,814 shares of the insurance provider’s stock worth $54,080,000 after buying an additional 68,690 shares during the period. Finally, National Planning Corp boosted its stake in shares of Progressive Corporation (The) by 28.0% in the second 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. Institutional investors and hedge funds own 79.54% of the company’s stock.

Shares of Progressive Corporation (PGR) opened at 47.23 on Friday. The firm has a market cap of $27.44 billion, a PE ratio of 20.10 and a beta of 0.86. The stock’s 50 day moving average is $45.95 and its 200 day moving average is $41.56. Progressive Corporation has a 12 month low of $30.54 and a 12 month high of $48.04.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) 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 firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.78 billion. During the same period in the prior year, the company earned $0.33 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Analysts forecast that Progressive Corporation will post $2.43 EPS for the current fiscal year.

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A number of brokerages recently issued reports on PGR. BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barclays PLC increased their target price on shares of Progressive Corporation (The) from $39.00 to $41.00 and gave the stock an “underweight” rating in a research report on Friday. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 target price on shares of Progressive Corporation (The) in a research report on Tuesday, July 25th. Two equities research 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 company has a consensus rating of “Buy” and a consensus target price of $44.93.

In other news, Director Jeffrey D. Kelly sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $44.52, for a total value of $890,400.00. Following the completion of the transaction, the director now owns 59,963 shares of the company’s stock, valued at $2,669,552.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William M. Cody sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $44.65, for a total value of $2,232,500.00. Following the completion of the transaction, the insider now directly owns 151,051 shares of the company’s stock, valued at approximately $6,744,427.15. The disclosure for this sale can be found here. Insiders sold 71,100 shares of company stock valued at $3,168,605 in the last ninety days. 0.56% of the stock is currently owned by 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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