Rhumbline Advisers raised its position in Progressive Corporation (The) (NYSE:PGR) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,259,251 shares of the insurance provider’s stock after buying an additional 81,786 shares during the period. Rhumbline Advisers’ holdings in Progressive Corporation (The) were worth $55,520,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Creative Planning raised its stake in 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 in the last quarter. Gulf International Bank UK Ltd raised its stake in Progressive Corporation (The) by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 177,678 shares of the insurance provider’s stock worth $6,961,000 after buying an additional 2,500 shares in the last quarter. National Pension Service raised its stake in Progressive Corporation (The) by 2.4% in the first quarter. National Pension Service now owns 490,373 shares of the insurance provider’s stock worth $19,360,000 after buying an additional 11,627 shares in the last quarter. Capstone Asset Management Co. raised its stake in Progressive Corporation (The) by 9.8% in the first quarter. Capstone Asset Management Co. now owns 63,932 shares of the insurance provider’s stock worth $2,505,000 after buying an additional 5,680 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake in Progressive Corporation (The) by 86.2% in the first quarter. Fox Run Management L.L.C. now owns 24,200 shares of the insurance provider’s stock worth $948,000 after buying an additional 11,200 shares in the last quarter. Institutional investors own 79.54% of the company’s stock.

Progressive Corporation (NYSE PGR) traded down 0.38% during midday trading on Friday, reaching $47.53. 112,176 shares of the company’s stock traded hands. Progressive Corporation has a 52-week low of $30.54 and a 52-week high of $48.04. The firm has a market cap of $27.62 billion, a PE ratio of 20.23 and a beta of 0.86. The firm’s 50-day moving average is $45.86 and its 200 day moving average is $41.48.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.01. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. Equities research analysts expect that Progressive Corporation will post $2.43 earnings per share for the current fiscal year.

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PGR has been the topic of a number of analyst reports. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a report on Tuesday, April 18th. Zacks Investment Research lowered shares of Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. FBR & Co upped their target price on shares of Progressive Corporation (The) from $35.00 to $36.00 and gave the stock a “mkt perform” rating in a report on Wednesday, May 10th. Deutsche Bank AG upgraded shares of Progressive Corporation (The) from a “sell” rating to a “hold” rating and upped their target price for the stock from $35.00 to $40.00 in a report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 target price on shares of Progressive Corporation (The) in a report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Progressive Corporation (The) has a consensus rating of “Buy” and a consensus price target of $44.79.

In other news, insider Steven Broz sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were 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 directly owns 8,955 shares of the company’s stock, valued at $372,080.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William M. Cody sold 50,000 shares of the business’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 transaction of $2,232,500.00. Following the transaction, the insider now directly owns 151,051 shares of the company’s stock, valued at $6,744,427.15. The disclosure for this sale can be found here. Insiders have sold 71,100 shares of company stock valued at $3,168,605 over the last three months. 0.56% of the stock is owned by corporate 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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