Prudential PLC lessened its holdings in shares of Progressive Corporation (The) (NYSE:PGR) by 41.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,100 shares of the insurance provider’s stock after selling 5,100 shares during the quarter. Prudential PLC’s holdings in Progressive Corporation (The) were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Progressive Corporation (The) during the 2nd quarter worth $101,000. Cypress Capital Management LLC WY purchased a new position in shares of Progressive Corporation (The) during the 2nd quarter worth $106,000. IFP Advisors Inc boosted its stake in shares of Progressive Corporation (The) by 12.9% during the 2nd quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after acquiring an additional 341 shares during the last quarter. Fiduciary Trust Co. purchased a new position in shares of Progressive Corporation (The) during the 2nd quarter worth $143,000. Finally, Cornerstone Advisors Inc. boosted its stake in shares of Progressive Corporation (The) by 4.1% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 79.41% of the company’s stock.

In other Progressive Corporation (The) news, CFO John P. Sauerland sold 50,000 shares of the 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 transaction, the chief financial officer now directly owns 370,364 shares of the company’s stock, valued at $18,018,208.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Susan Patricia Griffith sold 35,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 221,715 shares in the company, valued at $10,788,651.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,250 shares of company stock worth $4,196,513. 0.56% of the stock is owned by company insiders.

WARNING: This story was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/13/progressive-corporation-the-pgr-shares-sold-by-prudential-plc.html.

Several research analysts have recently weighed in on PGR shares. Bank of America Corporation lifted their price target on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Barclays PLC lifted their price target on shares of Progressive Corporation (The) from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Monday, July 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target (up previously from $40.00) on shares of Progressive Corporation (The) in a research note on Friday, July 7th. Finally, FBR & Co lifted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Progressive Corporation (The) currently has an average rating of “Hold” and a consensus target price of $46.00.

Progressive Corporation (NYSE:PGR) opened at 48.75 on Friday. The stock has a market cap of $28.33 billion, a PE ratio of 20.74 and a beta of 0.87. The company’s 50 day moving average is $47.41 and its 200-day moving average is $44.31. Progressive Corporation has a 1-year low of $30.99 and a 1-year high of $49.75.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. Equities research analysts forecast that Progressive Corporation will post $2.30 earnings per share for the current fiscal 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)

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.