Alps Advisors Inc. boosted its stake in shares of Progressive Corporation (The) (NYSE:PGR) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,311 shares of the insurance provider’s stock after buying an additional 2,123 shares during the period. Alps Advisors Inc.’s holdings in Progressive Corporation (The) were worth $596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Progressive Corporation (The) by 8,999.0% in the 2nd quarter. Janus Henderson Group PLC now owns 6,472,777 shares of the insurance provider’s stock valued at $285,384,000 after purchasing an additional 6,401,640 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Progressive Corporation (The) by 24,360.1% in the 2nd 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 during the period. Artisan Partners Limited Partnership increased its holdings in shares of Progressive Corporation (The) by 40.4% in the 2nd 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 during the period. Voya Investment Management LLC increased its holdings in shares of Progressive Corporation (The) by 515.0% in the 2nd quarter. Voya Investment Management LLC now owns 2,665,312 shares of the insurance provider’s stock valued at $117,514,000 after purchasing an additional 2,231,956 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Progressive Corporation (The) by 32.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 7,118,721 shares of the insurance provider’s stock valued at $313,864,000 after purchasing an additional 1,752,867 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

A number of brokerages have recently weighed in on PGR. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a report on Thursday, August 3rd. Citigroup Inc. upped their target price on Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Credit Suisse Group upgraded Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and upped their target price for the company from $42.00 to $48.00 in a report on Wednesday, September 20th. ValuEngine upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 target price (up previously from $43.00) on shares of Progressive Corporation (The) in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $46.63.

In other news, CMO M Jeffrey Charney sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the sale, the chief marketing officer now directly owns 102,038 shares of the company’s stock, valued at $5,050,881. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,250 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total value of $60,912.50. Following the completion of the sale, the insider now directly owns 12,181 shares of the company’s stock, valued at $593,580.13. The disclosure for this sale can be found here. Insiders have sold 22,250 shares of company stock valued at $1,085,383 in the last ninety days. Company insiders own 0.56% of the company’s stock.

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Shares of Progressive Corporation (NYSE PGR) opened at $51.65 on Thursday. The stock has a market capitalization of $29,826.19, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.96 and a beta of 0.92. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive Corporation has a 12-month low of $32.41 and a 12-month high of $51.89.

Progressive Corporation (The) (NYSE:PGR) last announced its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Progressive Corporation (The) had a return on equity of 15.40% and a net margin of 5.41%. The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. equities analysts forecast that Progressive Corporation will post 2.36 EPS for the current fiscal year.

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 the Personal Lines, Commercial Lines and Property segments.

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

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