Cornerstone Capital Management Holdings LLC. increased its holdings in Progressive Corp (NYSE:PGR) by 42.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,260 shares of the insurance provider’s stock after acquiring an additional 198,493 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.12% of Progressive worth $37,803,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PGR. Exane Derivatives acquired a new stake in shares of Progressive in the 4th quarter worth about $104,000. Valeo Financial Advisors LLC raised its holdings in shares of Progressive by 13,675.2% in the 4th quarter. Valeo Financial Advisors LLC now owns 84,029 shares of the insurance provider’s stock worth $118,000 after acquiring an additional 83,419 shares during the last quarter. Balentine LLC raised its holdings in shares of Progressive by 3,273.0% in the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after acquiring an additional 2,422 shares during the last quarter. First Personal Financial Services raised its holdings in shares of Progressive by 101.8% in the 4th quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock worth $124,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Tiedemann Wealth Management LLC acquired a new stake in shares of Progressive in the 3rd quarter worth about $200,000. Institutional investors own 81.11% of the company’s stock.
In other news, insider William M. Cody sold 25,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the completion of the transaction, the insider now directly owns 137,722 shares of the company’s stock, valued at approximately $7,726,204.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.
Progressive Corp (NYSE PGR) opened at $59.97 on Tuesday. Progressive Corp has a 52-week low of $38.61 and a 52-week high of $60.43. The firm has a market cap of $34,990.00, a P/E ratio of 23.52, a PEG ratio of 2.34 and a beta of 0.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43.
Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Progressive had a net margin of 5.93% and a return on equity of 15.96%. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 21.6% compared to the same quarter last year. sell-side analysts anticipate that Progressive Corp will post 3.52 earnings per share for the current fiscal year.
Progressive 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.
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