Ameriprise Financial Inc. grew its position in Progressive Corporation (The) (NYSE:PGR) by 121.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 474,424 shares of the insurance provider’s stock after acquiring an additional 260,585 shares during the period. Ameriprise Financial Inc. owned 0.08% of Progressive Corporation (The) worth $20,923,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Progressive Corporation (The) by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock valued at $1,471,278,000 after acquiring an additional 1,357,926 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Progressive Corporation (The) by 2,817.6% in the 1st quarter. BlackRock Inc. now owns 35,897,019 shares of the insurance provider’s stock valued at $1,406,446,000 after acquiring an additional 34,666,678 shares during the last quarter. State Street Corp lifted its stake in shares of Progressive Corporation (The) by 1.4% in the 1st quarter. State Street Corp now owns 26,996,546 shares of the insurance provider’s stock valued at $1,057,724,000 after acquiring an additional 372,478 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in shares of Progressive Corporation (The) by 5.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 19,547,018 shares of the insurance provider’s stock valued at $861,828,000 after acquiring an additional 1,035,246 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Progressive Corporation (The) by 1.2% in the 1st quarter. Artisan Partners Limited Partnership now owns 8,254,185 shares of the insurance provider’s stock valued at $323,399,000 after acquiring an additional 98,952 shares during the last quarter. Institutional investors own 79.41% of the company’s stock.

Progressive Corporation (NYSE PGR) opened at 48.42 on Friday. Progressive Corporation has a 12 month low of $30.63 and a 12 month high of $49.01. The company has a market cap of $28.13 billion, a PE ratio of 20.60 and a beta of 0.88. The company has a 50-day moving average of $47.13 and a 200 day moving average of $43.28.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. Progressive Corporation (The)’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. On average, equities analysts forecast that Progressive Corporation will post $2.30 earnings per share for the current fiscal year.

A number of analysts recently weighed in on PGR shares. Morgan Stanley restated an “equal weight” rating and issued a $47.00 price objective (up from $43.00) on shares of Progressive Corporation (The) in a report on Saturday, July 22nd. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Monday, June 19th. ValuEngine upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Buckingham Research started coverage on Progressive Corporation (The) in a report on Monday, September 11th. They issued an “underperform” rating and a $40.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.00.

In other news, insider Steven Broz sold 1,250 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total transaction of $60,912.50. Following the sale, the insider now owns 12,181 shares in the company, valued at $593,580.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Susan Patricia Griffith sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $48.66, for a total transaction of $1,703,100.00. Following the sale, the insider now owns 221,715 shares in the company, valued at approximately $10,788,651.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,250 shares of company stock worth $4,196,513. Corporate insiders own 0.56% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/01/ameriprise-financial-inc-increases-stake-in-progressive-corporation-the-pgr.html.

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.

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

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