Progressive Corporation (The) (PGR) Shares Bought by Advantus Capital Management Inc

Advantus Capital Management Inc raised its position in Progressive Corporation (The) (NYSE:PGR) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,374 shares of the insurance provider’s stock after buying an additional 529 shares during the period. Advantus Capital Management Inc’s holdings in Progressive Corporation (The) were worth $2,287,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PGR. Howard Hughes Medical Institute purchased a new position in Progressive Corporation (The) during the first quarter valued at approximately $110,000. Ibex Wealth Advisors bought a new stake in shares of Progressive Corporation (The) during the fourth quarter worth about $189,000. Wendell David Associates Inc. bought a new stake in shares of Progressive Corporation (The) during the first quarter worth about $204,000. Intrust Bank NA bought a new stake in shares of Progressive Corporation (The) during the first quarter worth about $205,000. Finally, Douglas Lane & Associates LLC bought a new stake in shares of Progressive Corporation (The) during the first quarter worth about $208,000. 79.40% of the stock is currently owned by hedge funds and other institutional investors.

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

Progressive Corporation (NYSE:PGR) traded down 0.47% during mid-day trading on Tuesday, reaching $44.49. 861,405 shares of the company’s stock traded hands. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $45.03. The stock has a market capitalization of $25.84 billion, a PE ratio of 21.71 and a beta of 0.80. The stock has a 50-day moving average price of $41.93 and a 200-day moving average price of $38.83.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings data on Tuesday, April 18th. The insurance provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by $0.01. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Progressive Corporation (The) had a net margin of 4.95% and a return on equity of 13.99%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Equities research analysts expect that Progressive Corporation will post $2.38 EPS for the current year.

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PGR has been the subject of several recent analyst reports. Wells Fargo & Co restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Tuesday, April 18th. Sandler O’Neill raised Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, March 21st. Bank of America Corporation upgraded Progressive Corporation (The) from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Monday, March 20th. Zacks Investment Research downgraded Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Keefe, Bruyette & Woods upgraded Progressive Corporation (The) from a “market perform” rating to an “outperform” rating and raised their target price for the company from $39.00 to $45.00 in a research note on Monday, April 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.54.

In related news, insider Steven Broz sold 1,100 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $41.55, for a total value of $45,705.00. Following the completion of the transaction, the insider now directly owns 8,955 shares in the company, valued at approximately $372,080.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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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