Progressive Corp (PGR) : Private Bank Trust Co scooped up 14,734 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 40,259 shares of Progressive Corp which is valued at $1,307,612.Progressive Corp makes up approximately 0.20% of Private Bank Trust Co’s portfolio.
Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in PGR in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 174,978 shares of Progressive Corp which is valued at $5,683,285. Progressive Corp makes up approx 0.09% of Gulf International Bank (uk) Ltd’s portfolio. Cutler Group Lp sold out all of its stake in PGR during the most recent quarter. The investment firm sold 8,745 shares of PGR which is valued $274,680.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.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 $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $0.33. The company had revenue of $6049.00 million for the quarter, compared to analysts expectations of $6087.84 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Upgraded by Citigroup to ” Neutral” on Oct 14, 2016. 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.