Assetmark INC Lowered Its Progressive Corp Ohio Com (PGR) Position by $3.89 Million; Share Price Rose

August 9, 2018 - By Jason Dias

The Progressive Corporation (NYSE:PGR) LogoInvestors sentiment decreased to 0.98 in Q1 2018. Its down 0.19, from 1.17 in 2017Q4. It dived, as 36 investors sold PGR shares while 231 reduced holdings. 81 funds opened positions while 180 raised stakes. 450.02 million shares or 0.77% less from 453.53 million shares in 2017Q4 were reported. Whittier Tru Of Nevada Inc has 1,350 shares. 1St Source State Bank holds 0.02% or 3,597 shares. Tudor Invest Corporation Et Al holds 8,783 shares. 52,105 are owned by Commonwealth Of Pennsylvania Pub School Empls Retrmt Systems. Natixis Advsrs LP invested 0.14% of its portfolio in The Progressive Corporation (NYSE:PGR). Mckinley Carter Wealth Services has invested 0.01% in The Progressive Corporation (NYSE:PGR). C A S reported 0.01% stake. Contravisory Invest Mgmt reported 114,727 shares. London Of Virginia holds 1.5% of its portfolio in The Progressive Corporation (NYSE:PGR) for 3.08 million shares. Ferguson Wellman Incorporated has invested 0.01% in The Progressive Corporation (NYSE:PGR). Whittier Tru holds 0.12% of its portfolio in The Progressive Corporation (NYSE:PGR) for 59,404 shares. First Quadrant Limited Partnership Ca reported 35,485 shares or 0.04% of all its holdings. Moreover, Neuberger Berman Grp Ltd Llc has 0.48% invested in The Progressive Corporation (NYSE:PGR). Robeco Institutional Asset Mgmt Bv has 0.24% invested in The Progressive Corporation (NYSE:PGR). State Of New Jersey Common Pension Fund D holds 0.07% or 300,000 shares in its portfolio.

Since April 25, 2018, it had 0 insider buys, and 8 selling transactions for $4.33 million activity. Griffith Susan Patricia also sold $762,804 worth of The Progressive Corporation (NYSE:PGR) shares. The insider BASCH JEFFREY W sold 11,000 shares worth $665,940. 2,000 shares valued at $121,236 were sold by Broz Steven on Wednesday, April 25. $452,296 worth of stock was sold by Murphy John Jo on Tuesday, July 17.

Assetmark Inc decreased its stake in Progressive Corp Ohio Com (PGR) by 11.69% based on its latest 2018Q1 regulatory filing with the SEC. Assetmark Inc sold 64,906 shares as the company’s stock rose 5.95% while stock markets declined. The institutional investor held 490,087 shares of the property-casualty insurers company at the end of 2018Q1, valued at $29.86 million, down from 554,993 at the end of the previous reported quarter. Assetmark Inc who had been investing in Progressive Corp Ohio Com for a number of months, seems to be less bullish one the $36.60B market cap company. The stock increased 1.49% or $0.925 during the last trading session, reaching $62.835. About 679,473 shares traded. The Progressive Corporation (NYSE:PGR) has risen 47.50% since August 9, 2017 and is uptrending. It has outperformed by 34.93% the S&P500.

Assetmark Inc, which manages about $13.57B and $9.66B US Long portfolio, upped its stake in Vanguard Index Fds Real Estate Etf (VNQ) by 212,625 shares to 1.13 million shares, valued at $85.24M in 2018Q1, according to the filing. It also increased its holding in Ishares Tr Core Msci Pac (IPAC) by 103,038 shares in the quarter, for a total of 1.77M shares, and has risen its stake in Spdr Ser Tr Nuveen Brc Munic.

Analysts await The Progressive Corporation (NYSE:PGR) to report earnings on October, 16. They expect $0.90 earnings per share, up 119.51 % or $0.49 from last year’s $0.41 per share. PGR’s profit will be $524.26 million for 17.45 P/E if the $0.90 EPS becomes a reality. After $1.19 actual earnings per share reported by The Progressive Corporation for the previous quarter, Wall Street now forecasts -24.37 % negative EPS growth.

More recent The Progressive Corporation (NYSE:PGR) news were published by: Seekingalpha.com which released: “Progressive: Good Company, But Wait For A Pullback” on July 20, 2018. Also Seekingalpha.com published the news titled: “Progressive Corporation 2018 Q2 – Results – Earnings Call Slides” on August 02, 2018. Seekingalpha.com‘s news article titled: “Progressive’s Dashboard Report – June 2018 Update” with publication date: July 21, 2018 was also an interesting one.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 9 analysts covering Progressive (NYSE:PGR), 2 have Buy rating, 1 Sell and 6 Hold. Therefore 22% are positive. Progressive had 18 analyst reports since February 14, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Monday, May 21 by Deutsche Bank. On Tuesday, August 7 the stock rating was maintained by FBR Capital with “Neutral”. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Tuesday, April 17. The company was maintained on Monday, July 16 by FBR Capital. As per Thursday, May 17, the company rating was downgraded by Keefe Bruyette & Woods. On Monday, April 16 the stock rating was maintained by FBR Capital with “Hold”. The rating was downgraded by Wood on Thursday, May 17 to “Market Perform”. The rating was maintained by Sandler O’Neill on Thursday, February 15 with “Buy”. Sandler O’Neill maintained it with “Buy” rating and $68.0 target in Wednesday, March 14 report. Citigroup maintained The Progressive Corporation (NYSE:PGR) on Thursday, July 12 with “Neutral” rating.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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