Mcdonald Capital Investors Incca buys $115,278,292 stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Mcdonald Capital Investors Incca scooped up 29,285 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 3,497,521 shares of Progressive Corp which is valued at $115,278,292.Progressive Corp makes up approximately 12.14% of Mcdonald Capital Investors Incca’s portfolio.

Progressive Corp opened for trading at $32.74 and hit $33.06 on the upside on Friday, eventually ending the session at $32.96, with a gain of 0.24% or 0.08 points. The heightened volatility saw the trading volume jump to 31,61,445 shares. Company has a market cap of $19,216 M.

Other Hedge Funds, Including , Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in PGR in the latest quarter, The investment management firm added 7,015 additional shares and now holds a total of 84,884 shares of Progressive Corp which is valued at $2,797,777. Progressive Corp makes up approx 0.08% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.First Mercantile Trust Co reduced its stake in PGR by selling 2,600 shares or 18.69% in the most recent quarter. The Hedge Fund company now holds 11,311 shares of PGR which is valued at $368,739. Progressive Corp makes up approx 0.04% of First Mercantile Trust Co’s portfolio.Aperio Group boosted its stake in PGR in the latest quarter, The investment management firm added 27,951 additional shares and now holds a total of 191,122 shares of Progressive Corp which is valued at $6,230,577. Progressive Corp makes up approx 0.05% of Aperio Group’s portfolio.Pggm Investments reduced its stake in PGR by selling 9,891 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 1,256,179 shares of PGR which is valued at $41,391,098. Progressive Corp makes up approx 0.22% of Pggm Investments’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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