Lomas Capital Management adds Progressive Corp (PGR) to its portfolio

Progressive Corp (PGR) : Lomas Capital Management added new position in Progressive Corp during the most recent quarter end. The investment management firm now holds 695,893 shares of Progressive Corp which is valued at $23,639,485 , the company said in a statement filed on Aug 15, 2016 with the SEC.Progressive Corp makes up approximately 4.71% of Lomas Capital Management’s portfolio.

Other Hedge Funds, Including , Absolute Return Capital sold out all of its stake in PGR during the most recent quarter. The investment firm sold 43,855 shares of PGR which is valued $1,489,754.Van Eck Associates Corp boosted its stake in PGR in the latest quarter, The investment management firm added 943 additional shares and now holds a total of 4,833 shares of Progressive Corp which is valued at $164,177.Advisors Asset Management reduced its stake in PGR by selling 100 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 2,700 shares of PGR which is valued at $92,043.Strs Ohio reduced its stake in PGR by selling 351,459 shares or 85.1% in the most recent quarter. The Hedge Fund company now holds 61,516 shares of PGR which is valued at $2,006,652. Progressive Corp makes up approx 0.01% of Strs Ohio’s portfolio.1st Global Advisors boosted its stake in PGR in the latest quarter, The investment management firm added 1,042 additional shares and now holds a total of 25,752 shares of Progressive Corp which is valued at $851,619. Progressive Corp makes up approx 0.11% of 1st Global Advisors’s portfolio.

Progressive Corp closed down -0.04 points or -0.12% at $32.52 with 22,99,338 shares getting traded on Thursday. Post opening the session at $32.58, the shares hit an intraday low of $32.32 and an intraday high of $32.72 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 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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