Fiduciary Management Inc Wi Lowers stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Fiduciary Management Inc Wi reduced its stake in Progressive Corp by 3.09% during the most recent quarter end. The investment management company now holds a total of 16,734,927 shares of Progressive Corp which is valued at $568,485,470 after selling 533,151 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Progressive Corp makes up approximately 3.30% of Fiduciary Management Inc Wi’s portfolio.

Other Hedge Funds, Including , Transamerica Financial Advisors reduced its stake in PGR by selling 41,286 shares or 22.29% in the most recent quarter. The Hedge Fund company now holds 143,919 shares of PGR which is valued at $4,888,928. Progressive Corp makes up approx 0.48% of Transamerica Financial Advisors’s portfolio.Atlantic Trust Group reduced its stake in PGR by selling 1,809 shares or 4.66% in the most recent quarter. The Hedge Fund company now holds 37,007 shares of PGR which is valued at $1,257,128. Progressive Corp makes up approx 0.01% of Atlantic Trust Group’s portfolio.Highpoint Advisor Group boosted its stake in PGR in the latest quarter, The investment management firm added 7,201 additional shares and now holds a total of 21,529 shares of Progressive Corp which is valued at $731,340. Progressive Corp makes up approx 0.26% of Highpoint Advisor Group’s portfolio. Acrospire Investment Management sold out all of its stake in PGR during the most recent quarter. The investment firm sold 630 shares of PGR which is valued $21,508.Aberdeen Asset Management Plcuk reduced its stake in PGR by selling 1,145 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 163,520 shares of PGR which is valued at $5,397,795. Progressive Corp makes up approx 0.02% of Aberdeen Asset Management Plcuk’s portfolio.

Progressive Corp opened for trading at $32.28 and hit $32.55 on the upside on Monday, eventually ending the session at $32.54, with a gain of 0.93% or 0.3 points. The heightened volatility saw the trading volume jump to 14,84,258 shares. Company has a market cap of $18,936 M.

On the company’s financial health, Progressive Corp reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.32. The company had revenue of $5934.60 million for the quarter, compared to analysts expectations of $5822.68 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Downgraded by Citigroup to ” Sell” on Jun 2, 2016.

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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