<div id="readability-page-1"><p>BTC Capital Management Inc. lifted its position in shares of  The Progressive Corporation (NYSE:PGR - Free Report) by 36.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities &amp; Exchange Commission. The firm owned 5,404 shares of the insurance provider's stock after acquiring an additional 1,436 shares during the quarter. BTC Capital Management Inc.'s holdings in Progressive were worth $1,442,000 at the end of the most recent quarter.</p><ul><li>3 Stocks Institutions Are Quietly Dumping</li></ul><p>A number of other institutional investors and hedge funds have also made changes to their positions in PGR. Nuveen LLC acquired a new position in shares of  Progressive during the first quarter worth about $1,473,180,000.  GQG Partners LLC increased its stake in shares of  Progressive by 61.4% during the first quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider's stock worth $2,362,039,000 after acquiring an additional 3,174,632 shares during the period.  GAMMA Investing LLC increased its stake in shares of  Progressive by 39,285.0% during the first quarter. GAMMA Investing LLC now owns 3,046,037 shares of the insurance provider's stock worth $862,059,000 after acquiring an additional 3,038,303 shares during the period.  C WorldWide Group Holding A S boosted its holdings in  Progressive by 12,110.3% during the first quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider's stock worth $353,374,000 after buying an additional 1,238,402 shares in the last quarter.  Finally, Alliancebernstein L.P. boosted its holdings in  Progressive by 15.2% during the first quarter. Alliancebernstein L.P. now owns 8,263,157 shares of the insurance provider's stock worth $2,338,556,000 after buying an additional 1,091,828 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds. </p><h2>Insider Buying and Selling</h2><p>In other news, CEO Susan Patricia Griffith sold 30,659 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total value of $7,543,953.54. Following the completion of the sale, the chief executive officer owned 476,286 shares of the company's stock, valued at $117,194,933.16. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which is available at this hyperlink. Also, insider Patrick K. Callahan sold 6,232 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $249.96, for a total transaction of $1,557,750.72. Following the completion of the sale, the insider directly owned 21,612 shares of the company's stock, valued at $5,402,135.52. The trade was a 22.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,062 shares of company stock valued at $32,217,635. 0.34% of the stock is owned by corporate insiders. </p><h2>Wall Street Analysts Forecast Growth</h2><ul><li>Progressive Leads the Way as Analysts Bet Big on Insurance Stocks</li></ul><p>A number of research firms recently commented on PGR. Jefferies Financial Group decreased their price objective on shares of Progressive from $309.00 to $287.00 and set a &#34;buy&#34; rating on the stock in a report on Monday, August 11th. BMO Capital Markets  set a $252.00 price objective on shares of Progressive in a report on Thursday. Bank of America decreased their price objective on shares of Progressive from $347.00 to $343.00 and set a &#34;buy&#34; rating on the stock in a report on Thursday. Barclays decreased their price objective on shares of Progressive from $287.00 to $281.00 and set an &#34;equal weight&#34; rating on the stock in a report on Tuesday, August 19th. Finally, Evercore ISI downgraded shares of Progressive from an &#34;outperform&#34; rating to an &#34;in-line&#34; rating and set a $275.00 price objective on the stock. in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating and twelve have assigned  a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of &#34;Hold&#34; and a consensus target price of $279.44.</p><p><b>Check Out Our Latest Report on Progressive</b></p><h2>Progressive Stock Performance</h2><ul><li>Is SelectQuote a Double-Bagger Stock? Analysts Predict Huge Gains</li></ul><p>Shares of PGR stock opened at $242.26 on Friday. The Progressive Corporation has a one year low of $228.54 and a one year high of $292.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.31 and a current ratio of 0.31. The company has a 50 day moving average price of $245.83 and a 200 day moving average price of $263.34. The firm has a market capitalization of $142.02 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.38 and a beta of 0.32. </p><p>Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm had revenue of $20.08 billion during the quarter, compared to analyst estimates of $20.39 billion. During the same quarter in the prior year, the business posted $2.48 earnings per share. Progressive's revenue for the quarter was up 12.1% compared to the same quarter last year.  Sell-side analysts anticipate that  The Progressive Corporation will post 14.68 EPS for the current year. </p><h2>Progressive Dividend Announcement</h2><p>The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Thursday, October 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive's dividend payout ratio  is 2.25%. </p><h2>Progressive Company Profile</h2> (Free Report)<p>The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Progressive</li><li>How to buy stock: A step-by-step guide for beginners </li><li>Caterpillar Stock Hits All-Time High—Is There More Room to Run?</li><li>What is a Death Cross in Stocks?</li><li>Berkshire-Backed Lennar Slides After Weak Q3 Earnings</li><li>Low PE Growth Stocks: Unlocking Investment Opportunities</li><li>Analysts Turn Bullish on Hershey—Is Pepsi the Next Value Play?</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVBHUg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPVBHUg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Progressive Right Now?</h2><p>Before you consider Progressive, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Progressive wasn't on the list.</p><p>While Progressive currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

<p>BTC Capital Management Inc. increased its stake in The Progressive Corporation (NYSE:PGR) by 36.2% in Q2, owning 5,404 shares valued at $1.44 million. Other institutional investors also adjusted their positions, with significant increases from Nuveen LLC and GQG Partners LLC. Insider trading included CEO Susan Griffith selling 30,659 shares. Analysts have mixed ratings on PGR, with a consensus target price of $279.44. PGR shares opened at $242.26, with a one-year range of $228.54 to $292.99.</p>

The Progressive Corporation $PGR Shares Acquired by BTC Capital Management Inc.