Progressive Corp (PGR) : Wbi Investments added new position in Progressive Corp during the most recent quarter end. The investment management firm now holds 625,256 shares of Progressive Corp which is valued at $20.8 Million , the company said in a statement filed on May 11, 2016 with the SEC.Progressive Corp makes up approximately 0.90% of Wbi Investments’s portfolio.
Other Hedge Funds, Including , Cipher Capital Lp boosted its stake in PGR in the latest quarter, The investment management firm added 24,827 additional shares and now holds a total of 76,365 shares of Progressive Corp which is valued at $2.5 Million. Progressive Corp makes up approx 0.24% of Cipher Capital Lp’s portfolio.Bbva Compass Bancshares Inc boosted its stake in PGR in the latest quarter, The investment management firm added 40,518 additional shares and now holds a total of 65,178 shares of Progressive Corp which is valued at $2.1 Million. Progressive Corp makes up approx 0.16% of Bbva Compass Bancshares Inc’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 $33 Million. Progressive Corp makes up approx 0.06% of Russell Frank Co’s portfolio.Hl Financial Services boosted its stake in PGR in the latest quarter, The investment management firm added 101,837 additional shares and now holds a total of 1,698,371 shares of Progressive Corp which is valued at $55.4 Million. Progressive Corp makes up approx 1.35% of Hl Financial Services’s portfolio.
Progressive Corp closed down -0.2 points or -0.60% at $33.04 with 45,39,963 shares getting traded on Monday. Post opening the session at $33.21, the shares hit an intraday low of $33 and an intraday high of $33.29 and the price fluctuated in this range throughout the day.Shares ended Monday 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 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.