Meeder Asset Management INC Position in Progressive Corp/The (PGR) Lowered as Stock Rose

November 14, 2017 - By Adrian Mccoy

Investors sentiment is 1.19 in Q2 2017. Its the same as in 2017Q1. It is flat, 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. Beck Mack & Oliver Limited Liability Corp stated it has 25,796 shares. Art Ltd Limited Liability Company invested in 134,200 shares. Lateef Inv Mngmt Limited Partnership accumulated 839,676 shares. 214,021 were reported by Lafayette Invests. Glenmede Tru Com Na reported 292,021 shares stake. Moreover, Nomura Holdg has 0.01% invested in Progressive Corp (NYSE:PGR) for 77,037 shares. Farmers Co owns 11,805 shares or 0.18% of their US portfolio. Moreover, Thrivent For Lutherans has 0.09% invested in Progressive Corp (NYSE:PGR) for 500,966 shares. C M Bidwell & Assocs Limited reported 1.11% stake. Caprock Gru invested in 0.06% or 5,877 shares. Marble Harbor Invest Counsel Ltd Company holds 101,011 shares. Schroder Invest Management Group Incorporated has invested 0% in Progressive Corp (NYSE:PGR). Huntington State Bank stated it has 0.01% of its portfolio in Progressive Corp (NYSE:PGR). Welch And Forbes Lc accumulated 0.07% or 53,797 shares. Moreover, Lord Abbett & Limited Liability has 0.29% invested in Progressive Corp (NYSE:PGR).

Since May 22, 2017, it had 0 insider buys, and 3 insider sales for $2.50 million activity. On Friday, June 16 CODY WILLIAM M sold $2.23M worth of Progressive Corp (NYSE:PGR) or 50,000 shares. $223,695 worth of Progressive Corp (NYSE:PGR) shares were sold by Sieger Michael D.

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 $29.83B market cap company. The stock increased 0.33% or $0.17 on November 14, reaching $51.28. About 2.02 million 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 $3.85B and $1.05 billion US Long portfolio, upped its stake in Ishares 7 (IEF) by 71,315 shares to 152,156 shares, valued at $16.22 million in 2017Q2, according to the filing. It also increased its holding in Berkshire Hathaway Inc (BRKB) by 59,898 shares in the quarter, for a total of 72,177 shares, and has risen its stake in Adobe Systems Inc (NASDAQ:ADBE).

Investors wait Progressive Corp (NYSE:PGR) to report on January, 24. its quarterly earnings Wall Street analysts expect $0.68 earnings per share, up $0.06 or 9.68 % from last year’s $0.62 same quarter earnings. This translates into $395.56M profit for PGR giving the stock a 18.85 P/E. This is assuming the current $0.68 EPS is accurate. Progressive Corp’s Wall Street analysts see 65.85 % EPS growth, taking into account the $0.41 EPS reproted in the previous quarter,

More important recent Progressive Corp (NYSE:PGR) news were published by: Seekingalpha.com which released: “Progressive’s Dashboard Report – September 2017 Update” on October 23, 2017, also Twst.com published article titled: “Progressive Corporation: Progressive Reports September 2017 Results”, Nasdaq.com published: “High Pointe Capital Management Llc Buys Progressive Corp, Micro Focus …” on November 03, 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 of Progressive Corp (NYSE:PGR) earned “Buy” rating by Keefe Bruyette & Woods on Tuesday, October 17. The stock has “Hold” rating by Wells Fargo on Friday, May 5. As per Wednesday, August 16, the company rating was maintained by Keefe Bruyette & Woods. Barclays Capital maintained the stock with “Underweight” rating in Monday, October 16 report. The firm has “Hold” rating by Wells Fargo given on Wednesday, August 16. On Wednesday, October 18 the stock rating was maintained by Citigroup with “Neutral”. On Tuesday, July 18 the stock rating was maintained by FBR Capital with “Hold”. Citigroup downgraded the shares of PGR in report on Tuesday, December 1 to “Neutral” rating. Wells Fargo maintained Progressive Corp (NYSE:PGR) on Tuesday, July 18 with “Hold” rating. FBR Capital maintained it with “Hold” rating and $4000 target in Tuesday, July 11 report.

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