Westfield Capital Management Co. LP increased its position in shares of Progressive Corporation (The) (NYSE:PGR) by 62.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,739,335 shares of the insurance provider’s stock after purchasing an additional 669,428 shares during the quarter. Westfield Capital Management Co. LP owned 0.30% of Progressive Corporation (The) worth $76,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cypress Capital Management LLC WY bought a new stake in Progressive Corporation (The) during the second quarter worth about $106,000. IFP Advisors Inc lifted its position in Progressive Corporation (The) by 12.9% during the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 341 shares during the period. Fiduciary Trust Co. bought a new stake in Progressive Corporation (The) during the second quarter worth about $143,000. Cornerstone Advisors Inc. lifted its position in Progressive Corporation (The) by 4.1% during the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 133 shares during the period. Finally, Dupont Capital Management Corp bought a new stake in Progressive Corporation (The) during the second quarter worth about $186,000. 79.41% of the stock is owned by institutional investors and hedge funds.

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In other news, Director Jeffrey D. Kelly sold 20,000 shares of Progressive Corporation (The) stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $44.52, for a total transaction of $890,400.00. Following the completion of the sale, the director now owns 59,963 shares in the company, valued at approximately $2,669,552.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Susan Patricia Griffith sold 35,000 shares of Progressive Corporation (The) stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $48.66, for a total value of $1,703,100.00. Following the sale, the insider now owns 221,715 shares of the company’s stock, valued at approximately $10,788,651.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,250 shares of company stock valued at $5,086,913. Corporate insiders own 0.56% of the company’s stock.

Several equities research analysts recently weighed in on PGR shares. MKM Partners reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Progressive Corporation (The) in a research report on Friday, June 9th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive Corporation (The) in a research report on Wednesday, June 14th. Bank of America Corporation upped their price objective on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. BidaskClub raised shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $44.87.

Progressive Corporation (NYSE PGR) traded down 0.11% on Friday, hitting $46.02. The stock had a trading volume of 3,690,372 shares. The company has a 50-day moving average price of $47.14 and a 200-day moving average price of $43.13. Progressive Corporation has a 1-year low of $30.63 and a 1-year high of $49.01. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 19.58 and a beta of 0.88.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) 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 the consensus estimate of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. Equities analysts predict that Progressive Corporation will post $2.47 earnings per share for the current year.

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.

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

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