Colony Group LLC Sells 180 Shares of Progressive Corporation (The) (NYSE:PGR)

Colony Group LLC decreased its stake in Progressive Corporation (The) (NYSE:PGR) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,255 shares of the insurance provider’s stock after selling 180 shares during the period. Colony Group LLC’s holdings in Progressive Corporation (The) were worth $245,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute bought a new stake in Progressive Corporation (The) during the first quarter valued at about $110,000. Ibex Wealth Advisors bought a new stake in Progressive Corporation (The) during the fourth quarter valued at about $189,000. Wendell David Associates Inc. acquired a new stake in shares of Progressive Corporation (The) during the first quarter worth about $204,000. Intrust Bank NA acquired a new stake in shares of Progressive Corporation (The) during the first quarter worth about $205,000. Finally, Douglas Lane & Associates LLC acquired a new stake in shares of Progressive Corporation (The) during the first quarter worth about $208,000. Institutional investors and hedge funds own 79.45% of the company’s stock.

Progressive Corporation (NYSE PGR) traded up 2.03% during trading on Friday, hitting $47.22. The company had a trading volume of 3,113,015 shares. The company has a market cap of $27.43 billion, a PE ratio of 20.09 and a beta of 0.85. The company’s 50 day moving average price is $45.01 and its 200-day moving average price is $40.79. Progressive Corporation has a 12 month low of $30.54 and a 12 month high of $47.28.

Progressive Corporation (The) (NYSE:PGR) last issued 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 return on equity of 15.62% and a net margin of 5.50%. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts expect that Progressive Corporation will post $2.42 earnings per share for the current year.

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A number of brokerages have weighed in on PGR. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 price target on shares of Progressive Corporation (The) in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $47.00 target price (up from $43.00) on shares of Progressive Corporation (The) in a research note on Saturday, July 22nd. Wells Fargo & Company restated a “hold” rating and set a $45.00 target price on shares of Progressive Corporation (The) in a research note on Tuesday, July 18th. Citigroup Inc. lifted their price target on Progressive Corporation (The) from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 13th. Finally, Raymond James Financial, Inc. raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $45.00 to $52.00 in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.57.

In other Progressive Corporation (The) news, insider William M. Cody sold 50,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $44.65, for a total value of $2,232,500.00. Following the transaction, the insider now directly owns 151,051 shares in the company, valued at $6,744,427.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Broz sold 1,100 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $41.55, for a total transaction of $45,705.00. Following the completion of the transaction, the insider now owns 8,955 shares in the company, valued at $372,080.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,100 shares of company stock worth $3,168,605. Insiders own 0.56% of the company’s stock.

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)

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