Progressive Corp/The (PGR) Shares Rose While Meeder Asset Management INC Lowered by $3.54 Million Its Holding

November 14, 2017 - By Marry Poplack

Investors sentiment is 1.19 in Q2 2017. Its the same as in 2017Q1. It is the same, as 32 investors sold PGR shares while 188 reduced holdings. only 76 funds opened positions while 185 raised stakes. 449.71 million shares or 0.33% less from 451.19 million shares in 2017Q1 were reported. M&T State Bank Corporation accumulated 102,857 shares. 259,804 were accumulated by Andra Ap. Returns Mgmt Ltd Liability holds 243,800 shares. 32,489 were reported by Atlantic Gru Ltd Liability Co. Oppenheimer Asset Mngmt owns 0.1% invested in Progressive Corp (NYSE:PGR) for 84,443 shares. Vanguard Grp Inc Inc, a Pennsylvania-based fund reported 38.64 million shares. Boston Private Wealth stated it has 18,057 shares. Whittier Trust Co Of Nevada Inc owns 850 shares for 0% of their portfolio. Utah Retirement has invested 0.11% in Progressive Corp (NYSE:PGR). Counselors Inc holds 49,621 shares. Davenport Limited Co reported 0% stake. 138,130 are owned by Rainier Invest Management Lc. Citigroup stated it has 0.04% of its portfolio in Progressive Corp (NYSE:PGR). Choate Invest Advsr stated it has 10,926 shares. Employees Retirement System Of Texas stated it has 40,000 shares.

Since May 22, 2017, it had 0 buys, and 3 sales for $2.50 million activity. 50,000 Progressive Corp (NYSE:PGR) shares with value of $2.23 million were sold by CODY WILLIAM M. On Monday, May 22 the insider Broz Steven sold $45,705.

Meeder Asset Management Inc decreased its stake in Progressive Corp/The (PGR) by 65.32% based on its latest 2017Q2 regulatory filing with the SEC. Meeder Asset Management Inc sold 80,359 shares as the company’s stock rose 6.56% with the market. The institutional investor held 42,668 shares of the property-casualty insurers company at the end of 2017Q2, valued at $1.88M, down from 123,027 at the end of the previous reported quarter. Meeder Asset Management Inc who had been investing in Progressive Corp/The for a number of months, seems to be less bullish one the $29.83 billion market cap company. The stock increased 0.33% or $0.17 on November 14, reaching $51.28. About 2.02M shares traded. Progressive Corp (NYSE:PGR) has risen 26.23% since November 14, 2016 and is uptrending. It has outperformed by 9.53% the S&P500.

Meeder Asset Management Inc, which manages about $3.85 billion and $1.05B US Long portfolio, upped its stake in Ishare Core Msci Eafe Etf (IEFA) by 291,498 shares to 444,130 shares, valued at $27.04 million in 2017Q2, according to the filing. It also increased its holding in Ishares Iboxx $ High Yield Corporate Bond Etf (HYG) by 79,093 shares in the quarter, for a total of 274,391 shares, and has risen its stake in Ishares 3 (IEI).

Analysts await Progressive Corp (NYSE:PGR) to report earnings on January, 24. They expect $0.68 earnings per share, up 9.68 % or $0.06 from last year’s $0.62 per share. PGR’s profit will be $395.56 million for 18.85 P/E if the $0.68 EPS becomes a reality. After $0.41 actual earnings per share reported by Progressive Corp for the previous quarter, Wall Street now forecasts 65.85 % EPS growth.

More important recent Progressive Corp (NYSE:PGR) news were published by: Nasdaq.com which released: “High Pointe Capital Management Llc Buys Progressive Corp, Micro Focus …” on November 03, 2017, also Twst.com published article titled: “Progressive Corporation: Progressive Reports September 2017 Results”, Seekingalpha.com published: “Progressive’s Dashboard Report – September 2017 Update” on October 23, 2017. More interesting news about Progressive Corp (NYSE:PGR) was released by: Investorplace.com and their article: “Is Progressive Corp Still a Buy After Its Earnings Report?” with publication date: October 19, 2017.

Progressive Corp (NYSE:PGR) Ratings Coverage

Among 18 analysts covering Progressive (NYSE:PGR), 7 have Buy rating, 3 Sell and 8 Hold. Therefore 39% are positive. Progressive has $56.0 highest and $25 lowest target. $41.36’s average target is -19.34% below currents $51.28 stock price. Progressive had 47 analyst reports since August 6, 2015 according to SRatingsIntel. The stock has “Market Outperform” rating by JMP Securities on Wednesday, September 16. The rating was maintained by Wells Fargo on Friday, May 5 with “Hold”. On Thursday, December 17 the stock rating was upgraded by Sandler O’Neill to “Hold”. The firm earned “Mkt Perform” rating on Monday, April 3 by FBR Capital. Citigroup maintained Progressive Corp (NYSE:PGR) rating on Thursday, July 13. Citigroup has “Neutral” rating and $46 target. The company was maintained on Friday, August 11 by Barclays Capital. The rating was maintained by Keefe Bruyette & Woods on Tuesday, October 17 with “Buy”. The stock of Progressive Corp (NYSE:PGR) has “Neutral” rating given on Tuesday, December 1 by Citigroup. The firm has “Buy” rating by Bank of America given on Monday, March 20. As per Monday, September 19, the company rating was maintained by Deutsche Bank.

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