Progressive Corp (PGR) : Fiduciary Management Inc Wi reduced its stake in Progressive Corp by 18.81% during the most recent quarter end. The investment management company now holds a total of 17,268,078 shares of Progressive Corp which is valued at $574 Million after selling 4,001,305 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.Progressive Corp makes up approximately 3.40% of Fiduciary Management Inc Wi’s portfolio.
Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in PGR by selling 87,693 shares or 6.46% in the most recent quarter. The Hedge Fund company now holds 1,269,262 shares of PGR which is valued at $42.2 Million. Progressive Corp makes up approx 0.18% of Victory Capital Management Inc’s portfolio.Utah Retirement Systems boosted its stake in PGR in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 105,349 shares of Progressive Corp which is valued at $3.5 Million. Progressive Corp makes up approx 0.10% of Utah Retirement Systems’s portfolio.Cibc Asset Management Inc boosted its stake in PGR in the latest quarter, The investment management firm added 504 additional shares and now holds a total of 55,269 shares of Progressive Corp which is valued at $1.8 Million. Progressive Corp makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Global X Management Co boosted its stake in PGR in the latest quarter, The investment management firm added 2,614 additional shares and now holds a total of 2,963 shares of Progressive Corp which is valued at $97,660. Progressive Corp makes up approx 0.01% of Global X Management Co’s portfolio.
Progressive Corp opened for trading at $32.73 and hit $33.09 on the upside on Friday, eventually ending the session at $32.98, with a gain of 1.29% or 0.42 points. The heightened volatility saw the trading volume jump to 36,55,608 shares. Company has a market cap of $19,227 M.
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 Companys 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 Companys 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.