Earnest Partners LLC trimmed its holdings in shares of Progressive Corp (NYSE:PGR) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 771,192 shares of the insurance provider’s stock after selling 19,972 shares during the quarter. Earnest Partners LLC owned 0.13% of Progressive worth $37,341,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PGR. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Progressive during the second quarter worth about $101,000. IFP Advisors Inc increased its position in shares of Progressive 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 acquiring an additional 341 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Progressive during the second quarter worth about $143,000. YorkBridge Wealth Partners LLC increased its position in shares of Progressive by 12.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,727 shares of the insurance provider’s stock worth $165,000 after acquiring an additional 427 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Progressive during the second quarter worth about $186,000. 79.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Progressive Corp (NYSE PGR) traded up $0.47 during mid-day trading on Monday, reaching $54.99. The company’s stock had a trading volume of 1,609,600 shares, compared to its average volume of 3,078,116. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Progressive Corp has a 12 month low of $33.86 and a 12 month high of $54.99. The firm has a market capitalization of $31,982.18, a P/E ratio of 24.01, a P/E/G ratio of 3.13 and a beta of 0.94.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Progressive had a return on equity of 15.40% and a net margin of 5.41%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. Progressive’s quarterly revenue was up 18.1% compared to the same quarter last year. analysts anticipate that Progressive Corp will post 2.4 earnings per share for the current fiscal year.

In other Progressive news, insider Jeffrey W. Basch sold 9,000 shares of Progressive stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the transaction, the insider now directly owns 70,965 shares in the company, valued at $3,422,641.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO M Jeffrey Charney sold 6,000 shares of Progressive stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the transaction, the chief marketing officer now owns 102,038 shares of the company’s stock, valued at $5,050,881. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,000 shares of company stock valued at $1,024,470. 0.56% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on PGR shares. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive in a research report on Wednesday, August 16th. Citigroup lifted their price target on Progressive from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. ValuEngine upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Buckingham Research initiated coverage on Progressive in a research note on Monday, September 11th. They issued an “underperform” rating and a $40.00 price target for the company. Finally, Credit Suisse Group lifted their price target on Progressive from $38.00 to $42.00 and gave the stock an “underperform” rating in a research note on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.82.

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Progressive 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.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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