Rs Investment Management Co buys $149,825,063 stake in Progressive Corp (PGR)

Progressive Corp (PGR) : Rs Investment Management Co scooped up 177,602 additional shares in Progressive Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 4,593,043 shares of Progressive Corp which is valued at $149,825,063.Progressive Corp makes up approximately 1.46% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in PGR by selling 9,440 shares or 22.1% in the most recent quarter. The Hedge Fund company now holds 33,277 shares of PGR which is valued at $1,085,496. Progressive Corp makes up approx 0.03% of Huntington National Bank’s portfolio.Checchi Capital Advisers reduced its stake in PGR by selling 273 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 8,861 shares of PGR which is valued at $293,033. Progressive Corp makes up approx 0.07% of Checchi Capital Advisers’s portfolio. Eqis Capital Management added PGR to its portfolio by purchasing 14,306 company shares during the most recent quarter which is valued at $469,809. Progressive Corp makes up approx 0.03% of Eqis Capital Management’s portfolio.Vontobel Asset Management Inc reduced its stake in PGR by selling 1,741,418 shares or 34.15% in the most recent quarter. The Hedge Fund company now holds 3,357,377 shares of PGR which is valued at $111,699,933. Progressive Corp makes up approx 0.91% of Vontobel Asset Management Inc’s portfolio.

Progressive Corp closed down -0.13 points or -0.40% at $32.51 with 31,75,816 shares getting traded on Friday. Post opening the session at $32.6, the shares hit an intraday low of $32.47 and an intraday high of $32.74 and the price fluctuated in this range throughout the day.Shares ended Friday 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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