Progressive Corp (PGR) : Boston Private Wealth scooped up 12,630 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 354,737 shares of Progressive Corp which is valued at $11,709,868.Progressive Corp makes up approximately 0.46% of Boston Private Wealth’s portfolio.
Other Hedge Funds, Including , Hussman Strategic Advisors boosted its stake in PGR in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 350,000 shares of Progressive Corp which is valued at $11,553,500. Progressive Corp makes up approx 1.71% of Hussman Strategic Advisors’s portfolio.Pggm Investments reduced its stake in PGR by selling 364,223 shares or 28.99% in the most recent quarter. The Hedge Fund company now holds 891,956 shares of PGR which is valued at $29,095,605. Progressive Corp makes up approx 0.14% of Pggm Investments’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.Raymond James Trust N.a. boosted its stake in PGR in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 31,578 shares of Progressive Corp which is valued at $1,063,863. Progressive Corp makes up approx 0.09% of Raymond James Trust N.a.’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PGR by selling 189,435 shares or 46.93% in the most recent quarter. The Hedge Fund company now holds 214,243 shares of PGR which is valued at $7,217,847. Progressive Corp makes up approx 0.03% of Bnp Paribas Arbitrage Sa’s portfolio.
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 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.