Amundi Pioneer Asset Management Inc. Has $27.93 Million Stake in Progressive Corp (PGR)

Amundi Pioneer Asset Management Inc. lifted its stake in shares of Progressive Corp (NYSE:PGR) by 45.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 458,401 shares of the insurance provider’s stock after buying an additional 143,972 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.08% of Progressive worth $27,931,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Progressive by 1.7% in the first quarter. BlackRock Inc. now owns 39,414,036 shares of the insurance provider’s stock valued at $2,401,497,000 after purchasing an additional 644,100 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in Progressive by 9.6% in the first quarter. Artisan Partners Limited Partnership now owns 17,081,390 shares of the insurance provider’s stock valued at $1,040,769,000 after purchasing an additional 1,501,554 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Progressive by 16.2% in the first quarter. JPMorgan Chase & Co. now owns 11,676,418 shares of the insurance provider’s stock valued at $711,444,000 after purchasing an additional 1,630,692 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Progressive by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 6,450,730 shares of the insurance provider’s stock valued at $362,577,000 after purchasing an additional 496,336 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Progressive by 1.8% in the fourth quarter. OppenheimerFunds Inc. now owns 5,384,050 shares of the insurance provider’s stock valued at $303,229,000 after purchasing an additional 93,429 shares in the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.

In other Progressive news, insider Jeffrey W. Basch sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $60.54, for a total value of $665,940.00. Following the completion of the sale, the insider now owns 62,311 shares in the company, valued at $3,772,307.94. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven Broz sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 25th. The stock was 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 of the company’s stock, valued at approximately $853,105.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,600 shares of company stock valued at $3,025,024. 0.70% of the stock is owned by company insiders.



Shares of Progressive opened at $61.42 on Thursday, according to MarketBeat. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.44 and a quick ratio of 0.44. Progressive Corp has a twelve month low of $43.59 and a twelve month high of $64.77. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.00 and a beta of 0.67.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.10. Progressive had a return on equity of 18.90% and a net margin of 6.75%. sell-side analysts anticipate that Progressive Corp will post 4.19 earnings per share for the current year.

A number of equities analysts recently issued reports on PGR shares. Wells Fargo & Co set a $57.00 price target on Progressive and gave the company a “hold” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Progressive from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. MKM Partners upped their price target on Progressive to $70.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. ValuEngine raised Progressive from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Morgan Stanley upped their price target on Progressive from $59.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, April 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Progressive presently has a consensus rating of “Hold” and a consensus price target of $55.47.

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.

Institutional Ownership by Quarter for Progressive (NYSE:PGR)

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply