Checchi Capital Advisers LLC lowered its position in Progressive Corporation (The) (NYSE:PGR) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,992 shares of the insurance provider’s stock after selling 893 shares during the period. Checchi Capital Advisers LLC’s holdings in Progressive Corporation (The) were worth $352,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Progressive Corporation (The) by 109.0% in the first quarter. Creative Planning now owns 5,700 shares of the insurance provider’s stock worth $223,000 after buying an additional 2,973 shares during the period. Blair William & Co. IL raised its stake in shares of Progressive Corporation (The) by 327.8% in the first quarter. Blair William & Co. IL now owns 709,836 shares of the insurance provider’s stock worth $27,811,000 after buying an additional 543,916 shares during the period. Vanguard Group Inc. raised its stake in shares of Progressive Corporation (The) by 3.8% in the first quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock worth $1,471,278,000 after buying an additional 1,357,926 shares during the period. Wetherby Asset Management Inc. raised its stake in shares of Progressive Corporation (The) by 2.3% in the first quarter. Wetherby Asset Management Inc. now owns 16,188 shares of the insurance provider’s stock worth $634,000 after buying an additional 368 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Progressive Corporation (The) by 158.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 370,987 shares of the insurance provider’s stock worth $14,535,000 after buying an additional 227,438 shares during the period. 80.32% of the stock is currently owned by institutional investors.

Progressive Corporation (NYSE:PGR) opened at 47.59 on Wednesday. Progressive Corporation has a 52 week low of $30.54 and a 52 week high of $48.04. The firm has a 50-day moving average price of $46.13 and a 200-day moving average price of $41.76. The stock has a market cap of $27.65 billion, a P/E ratio of 20.25 and a beta of 0.86.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $6.75 billion for 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 business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, equities research analysts predict that Progressive Corporation will post $2.43 EPS for the current year.

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A number of equities research analysts have recently issued reports on PGR shares. Deutsche Bank AG raised Progressive Corporation (The) from a “sell” rating to a “hold” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Wednesday, May 17th. Morgan Stanley reiterated an “equal weight” rating and set a $47.00 price target (up previously from $43.00) on shares of Progressive Corporation (The) in a report on Saturday, July 22nd. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a report on Tuesday, April 18th. Finally, Zacks Investment Research upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Monday, June 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $44.93.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,100 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $41.55, for a total transaction of $45,705.00. Following the completion of the transaction, the insider now owns 8,955 shares in the company, valued at approximately $372,080.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey D. Kelly sold 20,000 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $44.52, for a total value of $890,400.00. Following the transaction, the director now owns 59,963 shares of the company’s stock, valued at approximately $2,669,552.76. The disclosure for this sale can be found here. Insiders have sold a total of 71,100 shares of company stock worth $3,168,605 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

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.

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

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