Weik Investment Services Inc Lowers stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Weik Investment Services Inc reduced its stake in Progressive Corp by 3.67% during the most recent quarter end. The investment management company now holds a total of 118,030 shares of Progressive Corp which is valued at $3.9 Million after selling 4,500 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Progressive Corp makes up approximately 2.39% of Weik Investment Services Inc’s portfolio.

Other Hedge Funds, Including , Cantab Capital Partners Llp boosted its stake in PGR in the latest quarter, The investment management firm added 2,723 additional shares and now holds a total of 18,869 shares of Progressive Corp which is valued at $627,206. Progressive Corp makes up approx 0.17% of Cantab Capital Partners Llp’s portfolio.Mitsubishi Ufj Trust Banking Corp boosted its stake in PGR in the latest quarter, The investment management firm added 13,029 additional shares and now holds a total of 1,175,562 shares of Progressive Corp which is valued at $39.1 Million. Progressive Corp makes up approx 0.09% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Fuller Thaler Asset Management reduced its stake in PGR by selling 1,500 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 6,000 shares of PGR which is valued at $199,440. Private Harbour Investment Management Counsel sold out all of its stake in PGR during the most recent quarter. The investment firm sold 6,500 shares of PGR which is valued $216,060.Municipal Employees’ Retirement System Of Michigan boosted its stake in PGR in the latest quarter, The investment management firm added 530 additional shares and now holds a total of 41,050 shares of Progressive Corp which is valued at $1.4 Million. Progressive Corp makes up approx 0.09% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Progressive Corp closed down -0.23 points or -0.69% at $33.26 with 26,51,302 shares getting traded on Wednesday. Post opening the session at $33.52, the shares hit an intraday low of $33.22 and an intraday high of $33.58 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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