Daiwa Securities Group Inc. raised its stake in shares of Progressive Corp. (NYSE:PGR) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,900 shares of the company’s stock after buying an additional 5,800 shares during the period. Daiwa Securities Group Inc.’s holdings in Progressive Corp. were worth $2,769,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. M&T Bank Corp increased its position in Progressive Corp. by 20.1% in the third quarter. M&T Bank Corp now owns 123,624 shares of the company’s stock valued at $3,894,000 after buying an additional 20,679 shares during the period. Confluence Investment Management LLC increased its position in Progressive Corp. by 24.3% in the third quarter. Confluence Investment Management LLC now owns 1,965,218 shares of the company’s stock valued at $61,904,000 after buying an additional 383,731 shares during the period. PNC Financial Services Group Inc. increased its position in Progressive Corp. by 12.3% in the third quarter. PNC Financial Services Group Inc. now owns 653,572 shares of the company’s stock valued at $20,586,000 after buying an additional 71,580 shares during the period. Toronto Dominion Bank increased its position in Progressive Corp. by 429.5% in the third quarter. Toronto Dominion Bank now owns 17,006 shares of the company’s stock valued at $536,000 after buying an additional 13,794 shares during the period. Finally, KBC Group NV increased its position in Progressive Corp. by 26.5% in the third quarter. KBC Group NV now owns 43,575 shares of the company’s stock valued at $1,373,000 after buying an additional 9,128 shares during the period. Hedge funds and other institutional investors own 76.56% of the company’s stock.

Institutional Ownership by Quarter for Progressive Corp. (NYSE:PGR)

Shares of Progressive Corp. (NYSE:PGR) traded up 0.48% on Tuesday, reaching $33.58. 2,439,677 shares of the company’s stock were exchanged. The company has a market capitalization of $19.50 billion, a P/E ratio of 20.10 and a beta of 0.75. Progressive Corp. has a 12 month low of $29.32 and a 12 month high of $35.54. The firm’s 50 day moving average price is $32.25 and its 200-day moving average price is $32.44.

Progressive Corp. (NYSE:PGR) last issued its quarterly earnings results on Thursday, October 13th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. Progressive Corp. had a net margin of 4.31% and a return on equity of 12.30%. The business earned $6.05 billion during the quarter. During the same period last year, the firm earned $0.47 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Progressive Corp. will post $1.52 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Daiwa Securities Group Inc. Acquires 5,800 Shares of Progressive Corp. (PGR)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was stolen and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2016/11/29/daiwa-securities-group-inc-acquires-5800-shares-of-progressive-corp-pgr.html.

Several equities analysts have weighed in on the stock. Credit Suisse Group AG restated a “sell” rating and set a $28.00 target price on shares of Progressive Corp. in a report on Thursday, November 17th. Zacks Investment Research upgraded shares of Progressive Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, November 9th. Citigroup Inc. upgraded shares of Progressive Corp. from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $30.00 to $34.00 in a report on Friday, October 14th. Deutsche Bank AG lowered their price target on shares of Progressive Corp. from $30.00 to $28.00 and set a “sell” rating for the company in a report on Monday, September 19th. Finally, Keefe, Bruyette & Woods upgraded shares of Progressive Corp. from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $29.00 to $31.00 in a report on Thursday, September 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Progressive Corp. presently has a consensus rating of “Hold” and a consensus target price of $32.41.

In other Progressive Corp. news, insider M Jeffrey Charney sold 7,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $32.50, for a total transaction of $227,500.00. Following the sale, the insider now owns 71,961 shares in the company, valued at approximately $2,338,732.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Progressive Corp. 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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

Receive News & Stock Ratings for Progressive Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corp. and related stocks with our FREE daily email newsletter.