Tocqueville Asset Management L.P. lessened its holdings in Progressive Corp (NYSE:PGR) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 291,562 shares of the insurance provider’s stock after selling 5,481 shares during the period. Tocqueville Asset Management L.P. owned 0.05% of Progressive worth $16,421,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Lockheed Martin Investment Management Co. purchased a new stake in shares of Progressive in the third quarter worth $872,000. Ameriprise Financial Inc. raised its position in shares of Progressive by 85.5% in the third quarter. Ameriprise Financial Inc. now owns 880,067 shares of the insurance provider’s stock worth $42,613,000 after buying an additional 405,643 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Progressive by 8.3% in the third quarter. Brown Advisory Inc. now owns 46,734 shares of the insurance provider’s stock worth $2,262,000 after buying an additional 3,580 shares in the last quarter. Cortland Associates Inc. MO purchased a new stake in shares of Progressive in the fourth quarter worth $349,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Progressive by 10.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,903,768 shares of the insurance provider’s stock worth $92,180,000 after buying an additional 178,770 shares in the last quarter. Institutional investors own 81.11% of the company’s stock.
In other news, insider William M. Cody sold 25,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the transaction, the insider now directly owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by company insiders.
Shares of Progressive Corp (NYSE:PGR) traded up $1.34 during trading hours on Wednesday, hitting $61.40. The stock had a trading volume of 3,350,000 shares, compared to its average volume of 3,840,000. Progressive Corp has a 52-week low of $38.61 and a 52-week high of $61.63. The company has a market capitalization of $35,710.00, a PE ratio of 24.08, a P/E/G ratio of 2.33 and a beta of 0.70. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.36.
Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.02. Progressive had a return on equity of 15.96% and a net margin of 5.93%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. research analysts expect that Progressive Corp will post 3.52 EPS for the current fiscal year.
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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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