Progressive Corporation (The) (PGR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Progressive Corporation (The) (NYSE:PGR) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,171,566 shares of the insurance provider’s stock after selling 9,867 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of Progressive Corporation (The) worth $45,902,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC increased its position in shares of Progressive Corporation (The) by 17.5% in the third quarter. Hsbc Holdings PLC now owns 758,829 shares of the insurance provider’s stock worth $23,866,000 after buying an additional 112,945 shares during the period. Lomas Capital Management LLC increased its position in shares of Progressive Corporation (The) by 65.6% in the third quarter. Lomas Capital Management LLC now owns 1,152,340 shares of the insurance provider’s stock worth $36,299,000 after buying an additional 456,447 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Progressive Corporation (The) during the third quarter worth about $4,665,000. WINTON GROUP Ltd increased its position in shares of Progressive Corporation (The) by 111.0% in the third quarter. WINTON GROUP Ltd now owns 1,483,470 shares of the insurance provider’s stock worth $46,729,000 after buying an additional 780,436 shares during the period. Finally, Transamerica Financial Advisors Inc. increased its position in shares of Progressive Corporation (The) by 9.6% in the third quarter. Transamerica Financial Advisors Inc. now owns 157,780 shares of the insurance provider’s stock worth $4,971,000 after buying an additional 13,861 shares during the period. 79.45% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

Shares of Progressive Corporation (PGR) opened at 44.83 on Friday. The stock’s 50 day moving average price is $41.79 and its 200 day moving average price is $38.67. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $44.88. The firm has a market cap of $26.04 billion, a PE ratio of 21.88 and a beta of 0.80.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings data on Tuesday, April 18th. The insurance provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.01. Progressive Corporation (The) had a return on equity of 13.99% and a net margin of 4.95%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Progressive Corporation will post $2.37 EPS for the current fiscal year.

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A number of equities analysts have recently issued reports on PGR shares. Sandler O’Neill raised Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, March 21st. Bank of America Corporation raised Progressive Corporation (The) from a “neutral” rating to a “buy” rating and increased their target price for the stock from $40.00 to $46.00 in a research note on Monday, March 20th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $48.00 target price on shares of Progressive Corporation (The) in a research note on Thursday, May 18th. MKM Partners restated a “buy” rating and issued a $50.00 price target (up previously from $45.00) on shares of Progressive Corporation (The) in a report on Friday, June 9th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.85.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,100 shares of Progressive Corporation (The) stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $41.55, for a total transaction of $45,705.00. Following the transaction, the insider now directly owns 8,955 shares in the company, valued at approximately $372,080.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

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.

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