Progressive Corporation (The) (PGR) Shares Sold by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. lowered its stake in shares of Progressive Corporation (The) (NYSE:PGR) by 50.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,668 shares of the insurance provider’s stock after selling 161,333 shares during the quarter. Speece Thorson Capital Group Inc.’s holdings in Progressive Corporation (The) were worth $7,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Progressive Corporation (The) during the second quarter valued at about $101,000. Cypress Capital Management LLC WY purchased a new stake in Progressive Corporation (The) in the second quarter worth about $106,000. IFP Advisors Inc grew its holdings in Progressive Corporation (The) by 12.9% in the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 341 shares during the period. Fiduciary Trust Co. purchased a new stake in Progressive Corporation (The) in the second quarter worth about $143,000. Finally, Cornerstone Advisors Inc. grew its holdings in Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 133 shares during the period. Institutional investors own 79.73% of the company’s stock.

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PGR has been the topic of a number of recent research reports. UBS AG upgraded shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 13th. BidaskClub upgraded shares of Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Wells Fargo & Company restated a “hold” rating and issued a $47.00 price objective on shares of Progressive Corporation (The) in a report on Tuesday, September 19th. Raymond James Financial, Inc. upgraded shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $45.00 to $52.00 in a report on Thursday, July 13th. Finally, FBR & Co upped their price objective on shares of Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Progressive Corporation (The) currently has an average rating of “Hold” and an average price target of $46.44.

In other Progressive Corporation (The) news, insider Susan Patricia Griffith sold 35,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 221,715 shares of the company’s stock, valued at approximately $10,788,651.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.65, for a total transaction of $2,432,500.00. Following the sale, the chief financial officer now directly owns 370,364 shares in the company, valued at approximately $18,018,208.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,250 shares of company stock worth $4,923,983. Insiders own 0.56% of the company’s stock.

Progressive Corporation (PGR) traded down 0.29% during midday trading on Monday, hitting $48.76. 797,417 shares of the stock were exchanged. The firm’s 50 day moving average price is $48.14 and its 200 day moving average price is $45.04. Progressive Corporation has a 12 month low of $30.99 and a 12 month high of $49.75. The company has a market cap of $28.33 billion, a PE ratio of 20.75 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Progressive Corporation will post $2.35 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)

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