Tradewinds Capital Management LLC continued to hold its stake in Progressive Corporation (The) (NYSE:PGR) during the second quarter, Holdings Channel reports. The institutional investor owned 7,565 shares of the insurance provider’s stock at the end of the second quarter. Tradewinds Capital Management LLC’s holdings in Progressive Corporation (The) were worth $334,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Cypress Capital Management LLC WY acquired a new stake in Progressive Corporation (The) during the second quarter worth about $106,000. Howard Hughes Medical Institute acquired a new stake in Progressive Corporation (The) during the first quarter worth about $110,000. IFP Advisors Inc raised its stake in Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after buying an additional 341 shares during the period. Cornerstone Advisors Inc. raised its stake in Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after buying an additional 133 shares during the period. Finally, Wendell David Associates Inc. acquired a new stake in Progressive Corporation (The) during the first quarter worth about $204,000. Institutional investors own 79.54% of the company’s stock.

Shares of Progressive Corporation (PGR) opened at 48.04 on Thursday. The company’s 50-day moving average is $45.77 and its 200 day moving average is $41.44. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 20.44 and a beta of 0.86. Progressive Corporation has a 52 week low of $30.54 and a 52 week high of $48.04.

Progressive Corporation (The) (NYSE:PGR) last issued its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Zacks’ 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 firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. Analysts anticipate that Progressive Corporation will post $2.43 EPS for the current fiscal year.

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A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price objective on shares of Progressive Corporation (The) in a report on Tuesday, July 25th. Finally, Citigroup Inc. raised their price objective on shares of Progressive Corporation (The) from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $44.79.

In other news, insider William M. Cody sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 151,051 shares in the company, valued at $6,744,427.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,100 shares of the company’s 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 transaction, the insider now owns 8,955 shares of the company’s stock, valued at approximately $372,080.25. The disclosure for this sale can be found here. Insiders have sold 71,100 shares of company stock worth $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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