Progressive Corporation (The) (NYSE:PGR) insider M Jeffrey Charney sold 6,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $48.90, for a total transaction of $293,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Progressive Corporation (NYSE:PGR) traded up 0.27% during midday trading on Tuesday, reaching $49.03. 3,221,407 shares of the company were exchanged. The stock has a 50-day moving average price of $47.71 and a 200 day moving average price of $44.85. Progressive Corporation has a 52-week low of $30.99 and a 52-week high of $49.75. The company has a market capitalization of $28.49 billion, a P/E ratio of 20.86 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last released its earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. Equities research analysts expect that Progressive Corporation will post $2.32 EPS for the current fiscal year.

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Several research firms have weighed in on PGR. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Citigroup Inc. lifted their price objective on shares of Progressive Corporation (The) from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Credit Suisse Group upgraded shares of Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $42.00 to $48.00 in a research report on Wednesday, September 20th. Barclays PLC lifted their price objective on shares of Progressive Corporation (The) from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Monday, July 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price objective (up from $40.00) on shares of Progressive Corporation (The) in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $46.44.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Progressive Corporation (The) by 2.9% in the second quarter. Vanguard Group Inc. now owns 38,642,819 shares of the insurance provider’s stock valued at $1,703,762,000 after purchasing an additional 1,091,051 shares in the last quarter. BlackRock Inc. grew its position in Progressive Corporation (The) by 1.8% in the second quarter. BlackRock Inc. now owns 36,533,106 shares of the insurance provider’s stock valued at $1,610,745,000 after purchasing an additional 636,087 shares in the last quarter. State Street Corp grew its position in Progressive Corporation (The) by 1.4% in the first quarter. State Street Corp now owns 26,996,546 shares of the insurance provider’s stock valued at $1,057,724,000 after purchasing an additional 372,478 shares in the last quarter. Longview Partners Guernsey LTD grew its position in Progressive Corporation (The) by 5.6% in the second quarter. Longview Partners Guernsey LTD now owns 19,547,018 shares of the insurance provider’s stock valued at $861,828,000 after purchasing an additional 1,035,246 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its position in Progressive Corporation (The) by 40.4% in the second quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after purchasing an additional 3,332,180 shares in the last quarter. 79.51% of the stock is owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Progressive Corporation (The) (NYSE:PGR)

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