Sentry Investment Management LLC continued to hold its stake in shares of Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 42,908 shares of the insurance provider’s stock at the end of the second quarter. Sentry Investment Management LLC’s holdings in Progressive Corporation (The) were worth $1,892,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in shares of Progressive Corporation (The) by 25.6% in the second quarter. Toronto Dominion Bank now owns 196,785 shares of the insurance provider’s stock worth $8,675,000 after purchasing an additional 40,058 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Progressive Corporation (The) by 10.0% in the second quarter. Advisory Services Network LLC now owns 6,579 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 599 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Progressive Corporation (The) by 73.4% in the second quarter. WINTON GROUP Ltd now owns 387,401 shares of the insurance provider’s stock worth $17,081,000 after purchasing an additional 163,929 shares during the last quarter. Colony Group LLC raised its stake in shares of Progressive Corporation (The) by 26.1% in the second quarter. Colony Group LLC now owns 7,886 shares of the insurance provider’s stock worth $348,000 after purchasing an additional 1,631 shares during the last quarter. Finally, Sterling Capital Management LLC purchased a new position in shares of Progressive Corporation (The) in the second quarter worth about $2,718,000. Hedge funds and other institutional investors own 79.38% of the company’s stock.

Progressive Corporation (NYSE PGR) traded down 0.67% during trading on Tuesday, hitting $48.65. The stock had a trading volume of 2,681,226 shares. The firm has a market cap of $28.27 billion, a P/E ratio of 20.70 and a beta of 0.87. Progressive Corporation has a 12-month low of $30.99 and a 12-month high of $49.75. The stock’s 50 day moving average price is $47.40 and its 200 day moving average price is $44.44.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.04 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, analysts anticipate that Progressive Corporation will post $2.28 EPS for the current fiscal year.

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In other Progressive Corporation (The) news, CFO John P. Sauerland sold 50,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $48.65, for a total transaction of $2,432,500.00. Following the sale, the chief financial officer now owns 370,364 shares in the company, valued at approximately $18,018,208.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Patricia Griffith sold 35,000 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $48.66, for a total value of $1,703,100.00. Following the sale, the insider now owns 221,715 shares in the company, valued at approximately $10,788,651.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,250 shares of company stock worth $4,196,513. Insiders own 0.56% of the company’s stock.

Several brokerages have recently issued reports on PGR. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Citigroup Inc. raised their target price on Progressive Corporation (The) from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Credit Suisse Group raised Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $42.00 to $48.00 in a report on Wednesday, September 20th. Barclays PLC raised their target price on Progressive Corporation (The) from $35.00 to $39.00 and gave the stock an “underweight” rating in a report on Monday, July 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price (up from $40.00) on shares of Progressive Corporation (The) in a report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.13.

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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