Rehmann Capital Advisory Group buys $21,485,073 stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Rehmann Capital Advisory Group scooped up 167 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 646,362 shares of Progressive Corp which is valued at $21,485,073.Progressive Corp makes up approximately 4.20% of Rehmann Capital Advisory Group’s portfolio.

Other Hedge Funds, Including , Old Mutual Customised Solutions (proprietary) Ltd reduced its stake in PGR by selling 9,600 shares or 44.65% in the most recent quarter. The Hedge Fund company now holds 11,900 shares of PGR which is valued at $395,556. Progressive Corp makes up approx 0.10% of Old Mutual Customised Solutions (proprietary) Ltd’s portfolio.Ironwood Investment Management reduced its stake in PGR by selling 50 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 12,115 shares of PGR which is valued at $399,310. Progressive Corp makes up approx 0.26% of Ironwood Investment Management’s portfolio.Russell Frank Co reduced its stake in PGR by selling 49,169 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 1,010,738 shares of PGR which is valued at $32,950,059. Progressive Corp makes up approx 0.06% of Russell Frank Co’s portfolio.Texas Permanent School Fund reduced its stake in PGR by selling 4,727 shares or 2.29% in the most recent quarter. The Hedge Fund company now holds 201,538 shares of PGR which is valued at $6,570,139. Progressive Corp makes up approx 0.08% of Texas Permanent School Fund’s portfolio. Highpoint Advisor Group added PGR to its portfolio by purchasing 14,328 company shares during the most recent quarter which is valued at $467,093. Progressive Corp makes up approx 0.29% of Highpoint Advisor Group’s portfolio.

Progressive Corp closed down -0.32 points or -0.95% at $33.24 with 23,39,675 shares getting traded on Friday. Post opening the session at $33.42, the shares hit an intraday low of $33.165 and an intraday high of $33.51 and the price fluctuated in this range throughout the day.Shares ended Friday 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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