Rs Investment Management Co buys $146.8 Million stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Rs Investment Management Co scooped up 642,779 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 4,415,441 shares of Progressive Corp which is valued at $146.8 Million.Progressive Corp makes up approximately 1.46% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Atlantic Trust Group reduced its stake in PGR by selling 1,301 shares or 3.24% in the most recent quarter. The Hedge Fund company now holds 38,816 shares of PGR which is valued at $1.3 Million. Progressive Corp makes up approx 0.01% of Atlantic Trust Group’s portfolio. Alethea Capital Management sold out all of its stake in PGR during the most recent quarter. The investment firm sold 61,018 shares of PGR which is valued $2 Million.Schroder Investment Management Group boosted its stake in PGR in the latest quarter, The investment management firm added 30,553 additional shares and now holds a total of 130,521 shares of Progressive Corp which is valued at $4.3 Million. Progressive Corp makes up approx 0.01% of Schroder Investment Management Group’s portfolio. Hudock Capital Group added PGR to its portfolio by purchasing 1,300 company shares during the most recent quarter which is valued at $42,848. Progressive Corp makes up approx 0.02% of Hudock Capital Group’s portfolio.Bbva Compass Bancshares Inc boosted its stake in PGR in the latest quarter, The investment management firm added 40,518 additional shares and now holds a total of 65,178 shares of Progressive Corp which is valued at $2.1 Million. Progressive Corp makes up approx 0.16% of Bbva Compass Bancshares Inc’s portfolio.

Progressive Corp closed down -0.2 points or -0.60% at $33.04 with 45,39,963 shares getting traded on Monday. Post opening the session at $33.21, the shares hit an intraday low of $33 and an intraday high of $33.29 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Progressive Corp reported $0.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $0.51. The company had revenue of $5818.00 million for the quarter, compared to analysts expectations of $5788.31 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Progressive Corp. Company shares were Reiterated by Deutsche Bank on Mar 17, 2016 to “Sell”, Firm has raised the Price Target to $ 29 from a previous price target of $28 .

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance commercial auto and truck insurance principally for small businesses and other specialty property-casualty insurance and related services. The Company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles uninsured and underinsured bodily injury and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.

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