Progressive Corp (PGR) : Bristol John W Co Inc Ny reduced its stake in Progressive Corp by 2.97% during the most recent quarter end. The investment management company now holds a total of 2,241,196 shares of Progressive Corp which is valued at $70,395,966 after selling 68,662 shares in Progressive Corp , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Progressive Corp makes up approximately 1.93% of Bristol John W Co Inc Ny’s portfolio.
Other Hedge Funds, Including , Contravisory Investment Management reduced its stake in PGR by selling 8,609 shares or 4.64% in the most recent quarter. The Hedge Fund company now holds 177,096 shares of PGR which is valued at $5,562,585. Progressive Corp makes up approx 1.82% of Contravisory Investment Management’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in PGR by selling 2,326 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 148,584 shares of PGR which is valued at $4,671,481. Progressive Corp makes up approx 0.10% of Exxonmobil Investment Management Inc Tx’s portfolio.Chevy Chase Trust Holdings reduced its stake in PGR by selling 11,927 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 491,321 shares of PGR which is valued at $15,343,955. Progressive Corp makes up approx 0.08% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in PGR by selling 85,476 shares or 39.9% in the most recent quarter. The Hedge Fund company now holds 128,767 shares of PGR which is valued at $4,021,393. Progressive Corp makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank boosted its stake in PGR in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 153 shares of Progressive Corp which is valued at $4,778.
Progressive Corp closed down -0.29 points or -0.92% at $31.12 with 26,90,464 shares getting traded on Tuesday. Post opening the session at $31.32, the shares hit an intraday low of $31.02 and an intraday high of $31.48 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. Shares were Reiterated by Deutsche Bank on Sep 19, 2016 to “Sell” and Lowered the Price Target to $ 28 from a previous price target of $30 .Progressive Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Sep 16, 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.