Van Cleef Asset Managementinc Lowers stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Van Cleef Asset Managementinc reduced its stake in Progressive Corp by 0.26% during the most recent quarter end. The investment management company now holds a total of 894,862 shares of Progressive Corp which is valued at $29,485,703 after selling 2,350 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Progressive Corp makes up approximately 10.32% of Van Cleef Asset Managementinc’s portfolio.

Progressive Corp opened for trading at $32.73 and hit $33.05 on the upside on Friday, eventually ending the session at $32.95, with a gain of 0.70% or 0.23 points. The heightened volatility saw the trading volume jump to 23,87,106 shares. Company has a market cap of $19,254 M.

Other Hedge Funds, Including , Private Bank Trust Co reduced its stake in PGR by selling 684 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 25,170 shares of PGR which is valued at $829,352. Progressive Corp makes up approx 0.14% of Private Bank Trust Co’s portfolio. Simplex Trading sold out all of its stake in PGR during the most recent quarter. The investment firm sold 2,179 shares of PGR which is valued $72,844.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in PGR in the latest quarter, The investment management firm added 14,011 additional shares and now holds a total of 133,214 shares of Progressive Corp which is valued at $4,453,344. Progressive Corp makes up approx 0.10% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Dnb Asset Management As boosted its stake in PGR in the latest quarter, The investment management firm added 14,300 additional shares and now holds a total of 48,625 shares of Progressive Corp which is valued at $1,625,534. Progressive Corp makes up approx 0.03% of Dnb Asset Management As’s portfolio.

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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