Progressive Corp (PGR) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its holdings in Progressive Corp (NYSE:PGR) by 4.7% during the 1st quarter, Holdings Channel reports. The firm owned 1,291,153 shares of the insurance provider’s stock after selling 63,941 shares during the period. Guggenheim Capital LLC’s holdings in Progressive were worth $78,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Impax Asset Management LLC boosted its position in Progressive by 14.9% in the first quarter. Impax Asset Management LLC now owns 6,195 shares of the insurance provider’s stock worth $377,000 after purchasing an additional 803 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in Progressive by 7.8% in the first quarter. First Allied Advisory Services Inc. now owns 11,886 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 862 shares during the last quarter. State Treasurer State of Michigan boosted its position in Progressive by 0.6% in the first quarter. State Treasurer State of Michigan now owns 171,481 shares of the insurance provider’s stock worth $10,448,000 after purchasing an additional 1,000 shares during the last quarter. Global X Management Co. LLC boosted its position in Progressive by 5.6% in the fourth quarter. Global X Management Co. LLC now owns 19,021 shares of the insurance provider’s stock worth $1,071,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Progressive by 1.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 91,494 shares of the insurance provider’s stock worth $5,575,000 after purchasing an additional 1,100 shares during the last quarter. 79.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of PGR opened at $62.52 on Thursday. The firm has a market capitalization of $36.54 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.10 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.44 and a current ratio of 0.44. Progressive Corp has a 1 year low of $43.47 and a 1 year high of $64.77.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Progressive had a return on equity of 18.90% and a net margin of 6.75%. research analysts anticipate that Progressive Corp will post 4.07 earnings per share for the current fiscal year.

In related news, CEO Susan Patricia Griffith sold 12,600 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $60.54, for a total transaction of $762,804.00. Following the sale, the chief executive officer now directly owns 222,723 shares in the company, valued at approximately $13,483,650.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 25th. The shares were sold at an average price of $60.62, for a total value of $121,240.00. Following the sale, the insider now owns 14,073 shares in the company, valued at $853,105.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,600 shares of company stock worth $2,276,224. 0.70% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on PGR shares. Zacks Investment Research raised Progressive from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Friday, April 20th. MKM Partners boosted their price objective on Progressive to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, March 27th. Wells Fargo & Co set a $57.00 price objective on Progressive and gave the stock a “hold” rating in a research report on Thursday, March 1st. Morgan Stanley boosted their price objective on Progressive from $59.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 18th. Finally, Keefe, Bruyette & Woods lowered Progressive from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research note on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $55.06.

Progressive Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Institutional Ownership by Quarter for Progressive (NYSE:PGR)

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