Cornerstone Capital Management Holdings LLC. lifted its position in shares of Progressive Corporation (The) (NYSE:PGR) by 157.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,091 shares of the insurance provider’s stock after acquiring an additional 175,063 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Progressive Corporation (The) were worth $12,612,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Progressive Corporation (The) by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 38,642,819 shares of the insurance provider’s stock worth $1,703,762,000 after acquiring an additional 1,091,051 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Progressive Corporation (The) by 1.8% during the 2nd quarter. BlackRock Inc. now owns 36,533,106 shares of the insurance provider’s stock worth $1,610,745,000 after acquiring an additional 636,087 shares in the last quarter. State Street Corp boosted its stake in shares of Progressive Corporation (The) by 1.4% during the 1st quarter. State Street Corp now owns 26,996,546 shares of the insurance provider’s stock worth $1,057,724,000 after acquiring an additional 372,478 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in shares of Progressive Corporation (The) by 5.6% during the 2nd quarter. Longview Partners Guernsey LTD now owns 19,547,018 shares of the insurance provider’s stock worth $861,828,000 after acquiring an additional 1,035,246 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Progressive Corporation (The) by 40.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock worth $510,843,000 after acquiring an additional 3,332,180 shares in the last quarter. 79.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Progressive Corporation (NYSE:PGR) traded up 0.47% on Friday, hitting $49.28. The company’s stock had a trading volume of 1,815,892 shares. The stock’s 50 day moving average is $47.36 and its 200-day moving average is $44.04. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 20.97 and a beta of 0.87. Progressive Corporation has a 52 week low of $30.99 and a 52 week high of $49.41.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings results 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). The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that Progressive Corporation will post $2.31 earnings per share for the current year.

Several equities research analysts have recently commented on the company. ValuEngine lowered Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub raised Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Citigroup Inc. boosted their price target on Progressive Corporation (The) from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Wells Fargo & Company reissued a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Progressive Corporation (The) currently has an average rating of “Hold” and a consensus price target of $46.00.

In other Progressive Corporation (The) news, CFO John P. Sauerland sold 50,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $48.65, for a total value of $2,432,500.00. Following the transaction, the chief financial officer now owns 370,364 shares in the company, valued at $18,018,208.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Broz sold 1,250 shares of Progressive Corporation (The) stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $48.73, for a total transaction of $60,912.50. Following the completion of the transaction, the insider now owns 12,181 shares in the company, valued at approximately $593,580.13. 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. 0.56% of the stock is currently owned by company insiders.

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Progressive Corporation (The) 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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