Osterweis Capital Management Inc. decreased its holdings in Progressive Corporation (The) (NYSE:PGR) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,039,600 shares of the insurance provider’s stock after selling 84,070 shares during the period. Progressive Corporation (The) comprises about 3.5% of Osterweis Capital Management Inc.’s investment portfolio, making the stock its 4th biggest holding. Osterweis Capital Management Inc. owned 0.18% of Progressive Corporation (The) worth $45,836,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Creative Planning boosted its stake in shares of Progressive Corporation (The) by 0.4% in the 2nd quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after buying an additional 23 shares during the last quarter. Financial Architects Inc boosted its stake in shares of Progressive Corporation (The) by 0.4% in the 2nd quarter. Financial Architects Inc now owns 18,187 shares of the insurance provider’s stock worth $801,000 after buying an additional 65 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of Progressive Corporation (The) by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 14,188 shares of the insurance provider’s stock worth $556,000 after buying an additional 90 shares during the last quarter. ING Groep NV boosted its stake in shares of Progressive Corporation (The) by 0.3% in the 2nd quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock worth $1,751,000 after buying an additional 112 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake in shares of Progressive Corporation (The) by 1.8% in the 2nd quarter. Weatherly Asset Management L. P. now owns 7,320 shares of the insurance provider’s stock worth $323,000 after buying an additional 130 shares during the last quarter. 79.41% of the stock is owned by institutional investors and hedge funds.

Progressive Corporation (NYSE PGR) traded up 0.47% during trading on Friday, reaching $49.28. The company had a trading volume of 1,815,892 shares. Progressive Corporation has a 52 week low of $30.99 and a 52 week high of $49.41. The stock has a 50 day moving average price of $47.36 and a 200 day moving average price of $44.04. The firm has a market capitalization of $28.63 billion, a P/E ratio of 20.97 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.78 billion. During the same period in the previous year, the company posted $0.33 earnings per share. Progressive Corporation (The)’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts predict that Progressive Corporation will post $2.31 earnings per share for the current year.

In other Progressive Corporation (The) news, insider Susan Patricia Griffith sold 35,000 shares of the company’s stock in a transaction on 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 directly owns 221,715 shares of the company’s stock, valued at $10,788,651.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 50,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $48.65, for a total transaction of $2,432,500.00. Following the completion of the sale, the chief financial officer now directly owns 370,364 shares in the company, valued at $18,018,208.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,250 shares of company stock worth $4,196,513. 0.56% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. Barclays PLC raised their price target on Progressive Corporation (The) from $39.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. FBR & Co raised their price target on Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, July 11th. UBS AG upgraded Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.00.

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Progressive Corporation (The) 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)

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