Wright Investors Service Inc buys $1,705,132 stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Wright Investors Service Inc scooped up 4,770 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 51,655 shares of Progressive Corp which is valued at $1,705,132.Progressive Corp makes up approximately 0.68% of Wright Investors Service Inc’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in PGR by selling 2,234 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 74,142 shares of PGR which is valued at $2,447,427. Progressive Corp makes up approx 0.03% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Louisiana State Employees Retirement System reduced its stake in PGR by selling 800 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 38,300 shares of PGR which is valued at $1,249,346. Progressive Corp makes up approx 0.06% of Louisiana State Employees Retirement System’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. Investment Partners Ltd Oh Adv sold out all of its stake in PGR during the most recent quarter. The investment firm sold 13,318 shares of PGR which is valued $443,090.

Progressive Corp opened for trading at $33.08 and hit $33.68 on the upside on Thursday, eventually ending the session at $33.51, with a gain of 1.51% or 0.5 points. The heightened volatility saw the trading volume jump to 41,48,475 shares. Company has a market cap of $19,536 M.

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 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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