Progressive Corp (PGR) Position Reduced by Private Bank & Trust Co.

Private Bank & Trust Co. reduced its position in shares of Progressive Corp (NYSE:PGR) by 14.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,923 shares of the company’s stock after selling 5,748 shares during the period. Private Bank & Trust Co.’s holdings in Progressive Corp were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mcdonald Capital Investors Inc. CA raised its position in Progressive Corp by 5.9% in the third quarter. Mcdonald Capital Investors Inc. CA now owns 3,778,844 shares of the company’s stock worth $119,034,000 after buying an additional 210,440 shares during the period. World Asset Management Inc raised its position in shares of Progressive Corp by 1.8% in the third quarter. World Asset Management Inc now owns 60,885 shares of the company’s stock worth $1,918,000 after buying an additional 1,075 shares during the last quarter. Rothschild Asset Management Inc. raised its position in shares of Progressive Corp by 34.1% in the third quarter. Rothschild Asset Management Inc. now owns 17,852 shares of the company’s stock worth $562,000 after buying an additional 4,538 shares during the last quarter. DnB Asset Management AS raised its position in shares of Progressive Corp by 6.4% in the third quarter. DnB Asset Management AS now owns 52,825 shares of the company’s stock worth $1,664,000 after buying an additional 3,200 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Progressive Corp by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,663 shares of the company’s stock worth $2,824,000 after buying an additional 2,571 shares during the last quarter. Hedge funds and other institutional investors own 76.70% of the company’s stock.

Institutional Ownership by Quarter for Progressive Corp (NYSE:PGR)

Shares of Progressive Corp (NYSE:PGR) traded up 0.03% during midday trading on Thursday, reaching $39.29. 2,706,268 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $39.50 and a 200-day moving average price of $35.66. Progressive Corp has a 52-week low of $30.54 and a 52-week high of $40.74. The stock has a market cap of $22.82 billion, a P/E ratio of 22.32 and a beta of 0.75.

Progressive Corp (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 25th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.15. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.47 billion. Progressive Corp had a net margin of 4.40% and a return on equity of 12.59%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. Analysts forecast that Progressive Corp will post $2.27 earnings per share for the current year.

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A number of equities analysts have recently issued reports on PGR shares. Bank of America Corp upgraded shares of Progressive Corp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $40.00 to $46.00 in a research report on Monday, March 20th. Wells Fargo & Co reiterated a “hold” rating on shares of Progressive Corp in a research report on Sunday, March 5th. Barclays PLC reiterated a “sell” rating and set a $33.00 target price on shares of Progressive Corp in a research report on Sunday, February 19th. Credit Suisse Group AG reiterated a “sell” rating and set a $33.00 target price on shares of Progressive Corp in a research report on Friday, February 17th. Finally, Zacks Investment Research upgraded shares of Progressive Corp from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, January 17th. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.63.

About Progressive Corp

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.

5 Day Chart for NYSE:PGR

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