Progressive Corporation (The) (NYSE:PGR) Shares Bought by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. raised its stake in Progressive Corporation (The) (NYSE:PGR) by 12.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,434 shares of the insurance provider’s stock after buying an additional 13,102 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Progressive Corporation (The) were worth $5,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Progressive Corporation (The) by 3.8% in the first quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock valued at $1,471,278,000 after buying an additional 1,357,926 shares during the last quarter. BlackRock Inc. increased its position in shares of Progressive Corporation (The) by 2,817.6% in the first quarter. BlackRock Inc. now owns 35,897,019 shares of the insurance provider’s stock valued at $1,406,446,000 after buying an additional 34,666,678 shares during the last quarter. State Street Corp increased its position in shares of 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 buying an additional 372,478 shares during the last quarter. Longview Partners Guernsey LTD increased its position in shares of 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 buying an additional 1,035,246 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Progressive Corporation (The) by 1.2% in the first quarter. Artisan Partners Limited Partnership now owns 8,254,185 shares of the insurance provider’s stock valued at $323,399,000 after buying an additional 98,952 shares during the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. Progressive Corporation (The)’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share.

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Several research analysts have commented on PGR shares. UBS AG raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. FBR & Co upped their price objective on Progressive Corporation (The) from $35.00 to $36.00 and gave the company a “mkt perform” rating in a research note on Wednesday, May 10th. Raymond James Financial, Inc. raised Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $45.00 to $52.00 in a research note on Thursday, July 13th. Finally, Citigroup Inc. upped their price objective on Progressive Corporation (The) from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $44.79.

In other news, Director Jeffrey D. Kelly sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $44.52, for a total transaction of $890,400.00. Following the transaction, the director now directly owns 59,963 shares of the company’s stock, valued at $2,669,552.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William M. Cody sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $44.65, for a total value of $2,232,500.00. Following the transaction, the insider now directly owns 151,051 shares in the company, valued at $6,744,427.15. The disclosure for this sale can be found here. Insiders have sold 71,100 shares of company stock worth $3,168,605 over the last three months. Insiders own 0.56% of the company’s stock.

Progressive Corporation (The) 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.