Progressive Corp (PGR) Holding Grow by Franklin Resources Inc.

Progressive Corp (PGR) Holding Grow by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of Progressive Corp (NYSE:PGR) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,804 shares of the company’s stock after buying an additional 3,645 shares during the period. Franklin Resources Inc.’s holdings in Progressive Corp were worth $1,874,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Private Advisor Group LLC increased its position in shares of Progressive Corp by 0.5% in the fourth quarter. Private Advisor Group LLC now owns 6,714 shares of the company’s stock worth $245,000 after buying an additional 34 shares in the last quarter. Advisor Partners LLC increased its position in shares of Progressive Corp by 0.5% in the third quarter. Advisor Partners LLC now owns 8,251 shares of the company’s stock worth $260,000 after buying an additional 42 shares in the last quarter. Johnson Financial Group Inc. increased its position in shares of Progressive Corp by 0.3% in the fourth quarter. Johnson Financial Group Inc. now owns 27,400 shares of the company’s stock worth $973,000 after buying an additional 73 shares in the last quarter. Buckingham Asset Management LLC increased its position in shares of Progressive Corp by 1.4% in the third quarter. Buckingham Asset Management LLC now owns 8,912 shares of the company’s stock worth $281,000 after buying an additional 121 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Progressive Corp by 1.2% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 14,944 shares of the company’s stock worth $471,000 after buying an additional 182 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.

Progressive Corp (NYSE:PGR) opened at 40.02 on Wednesday. The firm has a market cap of $23.24 billion, a P/E ratio of 22.74 and a beta of 0.75. Progressive Corp has a 12-month low of $30.54 and a 12-month high of $40.74. The company has a 50-day moving average price of $38.70 and a 200-day moving average price of $34.75.

Progressive Corp (NYSE:PGR) last issued its earnings results on Wednesday, January 25th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.15. Progressive Corp had a return on equity of 12.59% and a net margin of 4.40%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter last year, the business earned $0.56 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, analysts predict that Progressive Corp will post $2.22 earnings per share for the current year.

A number of equities analysts have recently weighed in on the company. Sandler O’Neill upgraded Progressive Corp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday. Wells Fargo & Co reiterated a “hold” rating on shares of Progressive Corp in a report on Saturday. Credit Suisse Group AG set a $33.00 target price on Progressive Corp and gave the company a “sell” rating in a report on Saturday, March 4th. Goldman Sachs Group Inc upgraded Progressive Corp from a “sell” rating to a “neutral” rating and upped their target price for the company from $29.00 to $34.00 in a report on Tuesday, January 10th. Finally, Zacks Investment Research upgraded Progressive Corp from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, January 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.30.

About Progressive Corp

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 Personal Lines, Commercial Lines and Property segments.

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