Northwestern Mutual Wealth Management Co. Acquires 17,431 Shares of Progressive Corporation (The) (NYSE:PGR)

Northwestern Mutual Wealth Management Co. grew its stake in shares of Progressive Corporation (The) (NYSE:PGR) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,139 shares of the insurance provider’s stock after purchasing an additional 17,431 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Progressive Corporation (The) were worth $12,351,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PGR. Creative Planning grew its holdings in Progressive Corporation (The) by 0.4% in the 2nd quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after buying an additional 23 shares in the last quarter. Buckingham Asset Management LLC grew its holdings in Progressive Corporation (The) by 0.3% in the 1st quarter. Buckingham Asset Management LLC now owns 8,937 shares of the insurance provider’s stock worth $350,000 after buying an additional 25 shares in the last quarter. Financial Architects Inc grew its holdings in Progressive Corporation (The) by 0.4% in the 2nd quarter. Financial Architects Inc now owns 18,187 shares of the insurance provider’s stock worth $801,000 after buying an additional 65 shares in the last quarter. Cleararc Capital Inc. lifted its position in Progressive Corporation (The) by 0.6% in the first quarter. Cleararc Capital Inc. now owns 14,188 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 90 shares during the period. Finally, ING Groep NV lifted its position in Progressive Corporation (The) by 0.3% in the second quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock worth $1,751,000 after purchasing an additional 112 shares during the period. 79.41% of the stock is owned by institutional investors.

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In related news, CFO John P. Sauerland sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $48.65, for a total value of $2,432,500.00. Following the completion of the transaction, the chief financial officer now owns 370,364 shares of the company’s stock, valued at approximately $18,018,208.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey D. Kelly sold 20,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $44.52, for a total transaction of $890,400.00. Following the completion of the transaction, the director now directly owns 59,963 shares of the company’s stock, valued at approximately $2,669,552.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,250 shares of company stock valued at $5,086,913. 0.56% of the stock is currently owned by insiders.

Progressive Corporation (NYSE:PGR) traded down 0.11% during trading on Friday, hitting $46.02. 3,690,372 shares of the stock were exchanged. The firm has a market capitalization of $26.74 billion, a PE ratio of 19.58 and a beta of 0.88. Progressive Corporation has a 12-month low of $30.63 and a 12-month high of $49.01. The stock has a 50 day moving average price of $47.14 and a 200-day moving average price of $43.13.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. During the same period last year, the company posted $0.33 EPS. The business’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Progressive Corporation will post $2.47 earnings per share for the current fiscal year.

A number of research firms have weighed in on PGR. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Citigroup Inc. increased their price objective on Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research report on Thursday, August 3rd. Buckingham Research began coverage on Progressive Corporation (The) in a research report on Monday, September 11th. They set an “underperform” rating and a $40.00 price objective for the company. Finally, Zacks Investment Research upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $44.87.

Progressive Corporation (The) 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.

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

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