New Mexico Educational Retirement Board Has $2.54 Million Position in Progressive Corporation (The) (PGR)

New Mexico Educational Retirement Board cut its stake in shares of Progressive Corporation (The) (NYSE:PGR) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 53,975 shares of the insurance provider’s stock after selling 4,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Progressive Corporation (The) were worth $2,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PGR. HL Financial Services LLC raised its position in shares of Progressive Corporation (The) by 1.6% in the second quarter. HL Financial Services LLC now owns 1,997,280 shares of the insurance provider’s stock valued at $88,060,000 after buying an additional 31,781 shares in the last quarter. Barrett Asset Management LLC acquired a new position in shares of Progressive Corporation (The) during the second quarter valued at $379,000. Advisor Partners LLC raised its position in shares of Progressive Corporation (The) by 6.4% in the second quarter. Advisor Partners LLC now owns 11,428 shares of the insurance provider’s stock valued at $504,000 after buying an additional 686 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Progressive Corporation (The) by 3.6% in the second quarter. TD Asset Management Inc. now owns 814,070 shares of the insurance provider’s stock valued at $35,892,000 after buying an additional 28,614 shares in the last quarter. Finally, Peak Asset Management LLC raised its position in shares of Progressive Corporation (The) by 2.3% in the second quarter. Peak Asset Management LLC now owns 6,486 shares of the insurance provider’s stock valued at $286,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.

Shares of Progressive Corporation (PGR) opened at 48.04 on Thursday. Progressive Corporation has a 12 month low of $30.54 and a 12 month high of $48.04. The stock’s 50 day moving average is $45.77 and its 200 day moving average is $41.44. The company has a market cap of $27.91 billion, a P/E ratio of 20.44 and a beta of 0.86.

Progressive Corporation (The) (NYSE:PGR) last released its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. On average, analysts anticipate that Progressive Corporation will post $2.43 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “New Mexico Educational Retirement Board Has $2.54 Million Position in Progressive Corporation (The) (PGR)” was reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2798853/new-mexico-educational-retirement-board-has-2-54-million-position-in-progressive-corporation-the-pgr.html.

Several equities research analysts have commented on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 target price on shares of Progressive Corporation (The) in a research note on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $47.00 target price (up previously from $43.00) on shares of Progressive Corporation (The) in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $44.79.

In related news, insider William M. Cody sold 50,000 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $44.65, for a total transaction of $2,232,500.00. Following the transaction, the insider now owns 151,051 shares in the company, valued at approximately $6,744,427.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,100 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $41.55, for a total transaction of $45,705.00. Following the sale, the insider now owns 8,955 shares of the company’s stock, valued at approximately $372,080.25. The disclosure for this sale can be found here. Insiders have sold a total of 71,100 shares of company stock worth $3,168,605 in the last quarter. 0.56% of the stock is owned by corporate insiders.

About Progressive Corporation (The)

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.

Want to see what other hedge funds are holding PGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progressive Corporation (The) (NYSE:PGR).

Institutional Ownership by Quarter for Progressive Corporation (The) (NYSE:PGR)

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

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.