Progressive Corp (PGR) : Weik Investment Services Inc reduced its stake in Progressive Corp by 0.67% during the most recent quarter end. The investment management company now holds a total of 117,240 shares of Progressive Corp which is valued at $3,982,643 after selling 790 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Progressive Corp makes up approximately 2.28% of Weik Investment Services Inc’s portfolio.
Other Hedge Funds, Including , Quadrant Capital Group boosted its stake in PGR in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 305 shares of Progressive Corp which is valued at $9,916. Progressive Corp makes up approx 0.01% of Quadrant Capital Group’s portfolio.Ibm Retirement Fund boosted its stake in PGR in the latest quarter, The investment management firm added 252 additional shares and now holds a total of 76,282 shares of Progressive Corp which is valued at $2,522,646. Progressive Corp makes up approx 0.09% of Ibm Retirement Fund’s portfolio. Berkshire Asset Managementpa added PGR to its portfolio by purchasing 31,571 company shares during the most recent quarter which is valued at $1,035,529. Progressive Corp makes up approx 0.15% of Berkshire Asset Managementpa’s portfolio.
Progressive Corp closed down -0.44 points or -1.34% at $32.33 with 38,79,664 shares getting traded on Tuesday. Post opening the session at $32.65, the shares hit an intraday low of $32.23 and an intraday high of $32.7 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Progressive Corp reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.32. The company had revenue of $5934.60 million for the quarter, compared to analysts expectations of $5822.68 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Downgraded by Citigroup to ” Sell” on Jun 2, 2016.
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.