Trading Report: Today: Pzena Investment Management LLC Continues to Hold Stake in Progressive Corp. (PGR)

Today: Pzena Investment Management LLC Continues to Hold Stake in Progressive Corp. (PGR)

Pzena Investment Management LLC held its position in Progressive Corp. (NYSE:PGR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 496,260 shares of the company’s stock at the end of the third quarter. Pzena Investment Management LLC owned approximately 0.09% of Progressive Corp. worth $15,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Progressive Corp. by 336.5% in the third quarter. Victory Capital Management Inc. now owns 5,495,747 shares of the company’s stock valued at $173,116,000 after buying an additional 4,236,740 shares during the period. AQR Capital Management LLC raised its stake in shares of Progressive Corp. by 241.1% in the second quarter. AQR Capital Management LLC now owns 3,742,522 shares of the company’s stock valued at $125,375,000 after buying an additional 2,645,298 shares in the last quarter. RidgeWorth Capital Management LLC raised its stake in shares of Progressive Corp. by 108.5% in the second quarter. RidgeWorth Capital Management LLC now owns 3,397,215 shares of the company’s stock valued at $112,923,000 after buying an additional 1,768,115 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Progressive Corp. by 39.5% in the second quarter. Janus Capital Management LLC now owns 5,599,290 shares of the company’s stock valued at $187,577,000 after buying an additional 1,586,418 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Progressive Corp. during the second quarter valued at about $45,993,000. Institutional investors own 76.56% of the company’s stock.

Shares of Progressive Corp. (NYSE:PGR) traded down 0.12% during mid-day trading on Monday, reaching $33.41. The company had a trading volume of 648,767 shares. Progressive Corp. has a 1-year low of $29.32 and a 1-year high of $35.54. The firm has a 50-day moving average price of $32.19 and a 200-day moving average price of $32.46. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 19.99 and a beta of 0.75.

Progressive Corp. (NYSE:PGR) last posted its quarterly earnings results on Thursday, October 13th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business earned $6.05 billion during the quarter. Progressive Corp. had a return on equity of 12.30% and a net margin of 4.31%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Equities analysts expect that Progressive Corp. will post $1.52 earnings per share for the current year.

Several brokerages have issued reports on PGR. Citigroup Inc. raised Progressive Corp. from a “sell” rating to a “neutral” rating and upped their target price for the stock from $30.00 to $34.00 in a research note on Friday, October 14th. Credit Suisse Group AG set a $28.00 target price on Progressive Corp. and gave the stock a “sell” rating in a research note on Tuesday, August 23rd. William Blair reaffirmed an “outperform” rating on shares of Progressive Corp. in a research note on Saturday, September 10th. Zacks Investment Research raised Progressive Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Deutsche Bank AG cut their target price on Progressive Corp. from $30.00 to $28.00 and set a “sell” rating for the company in a research note on Monday, September 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Progressive Corp. presently has a consensus rating of “Hold” and a consensus price target of $32.41.

In other Progressive Corp. news, insider M Jeffrey Charney sold 7,000 shares of Progressive Corp. stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $32.50, for a total value of $227,500.00. Following the transaction, the insider now owns 71,961 shares in the company, valued at $2,338,732.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.60% of the stock is currently owned by company insiders.

About Progressive Corp.

Related posts

Leave a Comment