Pathstone Family Office LLC Has $1,852,000 Stake in Progressive Corporation (The) (PGR)

Pathstone Family Office LLC continued to hold its stake in Progressive Corporation (The) (NYSE:PGR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42 shares of the insurance provider’s stock at the end of the second quarter. Pathstone Family Office LLC’s holdings in Progressive Corporation (The) were worth $1,852,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cypress Capital Management LLC WY purchased a new position in shares of Progressive Corporation (The) in the second quarter valued at $106,000. IFP Advisors Inc increased its position in shares of Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock valued at $132,000 after buying an additional 341 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of Progressive Corporation (The) in the second quarter valued at $143,000. Cornerstone Advisors Inc. increased its position in shares of Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock valued at $150,000 after buying an additional 133 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in shares of Progressive Corporation (The) in the second quarter valued at $186,000. Institutional investors and hedge funds own 79.41% of the company’s stock.

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A number of brokerages have recently weighed in on PGR. Barclays PLC raised their price target on Progressive Corporation (The) from $39.00 to $41.00 and gave the company an “underweight” rating in a research report on Friday, August 11th. UBS AG dropped their price target on Progressive Corporation (The) from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday. FBR & Co raised their price target on Progressive Corporation (The) from $36.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Tuesday, July 11th. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Progressive Corporation (The) currently has a consensus rating of “Hold” and an average price target of $45.50.

In related news, insider Susan Patricia Griffith sold 35,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was 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 of the company’s stock, valued at $10,788,651.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Kelly sold 20,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $44.52, for a total value of $890,400.00. Following the transaction, the director now directly owns 59,963 shares in the company, valued at $2,669,552.76. The disclosure for this sale can be found here. Insiders have sold 106,250 shares of company stock worth $5,086,913 over the last ninety days. 0.56% of the stock is owned by insiders.

Progressive Corporation (PGR) traded up 3.58% during mid-day trading on Tuesday, reaching $47.97. The company had a trading volume of 2,722,961 shares. Progressive Corporation has a 12 month low of $30.63 and a 12 month high of $49.01. The stock’s 50-day moving average is $47.11 and its 200 day moving average is $43.23. The firm has a market capitalization of $27.87 billion, a P/E ratio of 20.41 and a beta of 0.88.

Progressive Corporation (The) (NYSE:PGR) last announced its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, analysts predict that Progressive Corporation will post $2.47 earnings per share for the current fiscal year.

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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