Eagle Global Advisors Decreased Magna Intl (MGA) Holding by $959,560; 1832 Asset Management LP Has Raised Progressive Ohio (PGR) Position by $87.46 Million

August 12, 2018 - By Megan Stone

The Progressive Corporation (NYSE:PGR) Logo

Eagle Global Advisors Llc decreased its stake in Magna Intl Inc (MGA) by 6.67% based on its latest 2018Q1 regulatory filing with the SEC. Eagle Global Advisors Llc sold 17,135 shares as the company’s stock rose 12.18% while stock markets declined. The hedge fund held 239,845 shares of the capital goods company at the end of 2018Q1, valued at $13.52 million, down from 256,980 at the end of the previous reported quarter. Eagle Global Advisors Llc who had been investing in Magna Intl Inc for a number of months, seems to be less bullish one the $18.87 billion market cap company. The stock decreased 1.52% or $0.82 during the last trading session, reaching $53.05. About 1.70M shares traded or 45.76% up from the average. Magna International Inc. (NYSE:MGA) has risen 43.85% since August 12, 2017 and is uptrending. It has outperformed by 31.28% the S&P500. Some Historical MGA News: 26/04/2018 – MAGNA INTERNATIONAL INC – JOINT VENTURE AND PRODUCTION FACILITY WOULD ALLOW BOTH MAGNA AND BHAP TO FURTHER EXPAND PRESENCE IN CHINA; 10/05/2018 – MAGNA CEO: ONTARIO POLICY IS MAKING US LESS COMPETITIVE; 10/05/2018 – MAGNA CEO DON WALKER SPEAKS AT ANNUAL MEETING IN TORONTO; 10/05/2018 – Magna Intl 1Q EPS $1.83; 14/03/2018 – Magna to Invest $200 Million in Lyft in Addition to Funding the Partnership; 02/04/2018 – MAGNA FORMS JV IN CHINA TO SUPPORT COMPOSITE LIFTGATE MARKET; 04/05/2018 – Magna Posts Updated Financial Review for 2017; 28/03/2018 – Magna Posts 2017 Annual Report; 26/04/2018 – Magna Wins LiDAR Business With BMW Group; 26/04/2018 – Magna and BHAP Create Joint Venture to Supply Door Modules to Automakers in China

1832 Asset Management Lp increased its stake in Progressive Corp Ohio (PGR) by 93.46% based on its latest 2018Q1 regulatory filing with the SEC. 1832 Asset Management Lp bought 1.43M shares as the company’s stock rose 5.95% while stock markets declined. The institutional investor held 2.97 million shares of the property-casualty insurers company at the end of 2018Q1, valued at $181.70 million, up from 1.53M at the end of the previous reported quarter. 1832 Asset Management Lp who had been investing in Progressive Corp Ohio for a number of months, seems to be bullish on the $36.37 billion market cap company. The stock decreased 0.16% or $0.1 during the last trading session, reaching $62.44. About 2.45 million shares traded. The Progressive Corporation (NYSE:PGR) has risen 47.50% since August 12, 2017 and is uptrending. It has outperformed by 34.93% the S&P500. Some Historical PGR News: 17/04/2018 – PROGRESSIVE CORP- QTRLY NET PREMIUMS WRITTEN WERE $7,968.8 MLN VS $6,491.0 MLN; 16/05/2018 – Progressive April Net Premiums Written $3.2B; 14/03/2018 – PROGRESSIVE FEB. NET PREMIUMS EARNED $2.20B :PGR US; 17/04/2018 – PROGRESSIVE MARCH NET PREMIUMS EARNED $2.28B :PGR US; 14/03/2018 – Progressive February Net Premiums Earned $2.2; 14/05/2018 – PROGRESSIVE ELECTS LAWTON W. FITT AS CHAIRPERSON; 17/04/2018 – PROGRESSIVE CORP – QTRLY SHR $1.22; 19/04/2018 – DJ Progressive Corporation, Inst Holders, 1Q 2018 (PGR); 14/03/2018 – PROGRESSIVE CORP – FEB 2018 NET PREMIUMS EARNED $2,204.7 MLN VS $1,854.8 MLN IN FEB 2017; 17/04/2018 – PROGRESSIVE 1Q NET PREMIUMS EARNED $7.17B

1832 Asset Management Lp, which manages about $36.47B and $27.14B US Long portfolio, decreased its stake in Ishares Tr (IEF) by 19,663 shares to 22,304 shares, valued at $2.31 million in 2018Q1, according to the filing. It also reduced its holding in Maxar Technologies Ltd by 29,989 shares in the quarter, leaving it with 884,500 shares, and cut its stake in Deere & Co (NYSE:DE).

Investors sentiment decreased to 0.98 in Q1 2018. Its down 0.19, from 1.17 in 2017Q4. It dropped, 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. Barbara Oil Company has 0.46% invested in The Progressive Corporation (NYSE:PGR). Employees Retirement Association Of Colorado invested in 0.04% or 108,530 shares. Loring Wolcott & Coolidge Fiduciary Advsrs Limited Liability Partnership Ma holds 2,158 shares. Bridgewater LP holds 16,930 shares. Mutual Of America Capital Mgmt Limited Liability Company owns 115,510 shares for 0.11% of their portfolio. Ontario – Canada-based Retail Bank Of Nova Scotia has invested 0.11% in The Progressive Corporation (NYSE:PGR). Beck Mack Oliver Ltd Liability Co reported 0.05% in The Progressive Corporation (NYSE:PGR). Bancorp Of Hawaii reported 10,480 shares. Whittier Trust Comm has invested 0.12% in The Progressive Corporation (NYSE:PGR). The Indiana-based Old National National Bank & Trust In has invested 0.37% in The Progressive Corporation (NYSE:PGR). San Francisco Sentry Inv Group (Ca) accumulated 48 shares. Weik Cap has 113,655 shares for 3.33% of their portfolio. Blackrock Inc holds 0.11% of its portfolio in The Progressive Corporation (NYSE:PGR) for 39.41 million shares. Nuveen Asset Ltd Liability Corp holds 13,958 shares or 0.01% of its portfolio. Natixis holds 0.33% or 874,732 shares in its portfolio.

Since April 25, 2018, it had 0 buys, and 8 insider sales for $4.33 million activity. Sauerland John P sold 12,000 shares worth $711,960. BASCH JEFFREY W had sold 11,000 shares worth $665,940 on Thursday, May 17. Shares for $452,296 were sold by Murphy John Jo. Griffith Susan Patricia also sold $762,804 worth of The Progressive Corporation (NYSE:PGR) shares.

Among 21 analysts covering Progressive (NYSE:PGR), 9 have Buy rating, 3 Sell and 9 Hold. Therefore 43% are positive. Progressive had 74 analyst reports since August 6, 2015 according to SRatingsIntel. The rating was maintained by UBS on Thursday, January 25 with “Buy”. The stock of The Progressive Corporation (NYSE:PGR) has “Neutral” rating given on Monday, September 21 by Sterne Agee CRT. The rating was maintained by Barclays Capital with “Underweight” on Monday, October 16. Keefe Bruyette & Woods maintained the shares of PGR in report on Wednesday, March 14 with “Buy” rating. Citigroup maintained it with “Neutral” rating and $46 target in Thursday, July 13 report. The stock of The Progressive Corporation (NYSE:PGR) has “Underperform” rating given on Monday, September 18 by Credit Suisse. The rating was maintained by Citigroup on Thursday, August 17 with “Neutral”. The rating was maintained by Wells Fargo with “Hold” on Wednesday, August 16. Wells Fargo maintained the shares of PGR in report on Friday, May 5 with “Hold” rating. The stock of The Progressive Corporation (NYSE:PGR) has “Mkt Perform” rating given on Friday, September 16 by Keefe Bruyette & Woods.

More important 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 article titled: “Progressive’s Dashboard Report – June 2018 Update”, Seekingalpha.com published: “Progressive Corporation 2018 Q2 – Results – Earnings Call Slides” on August 02, 2018. More interesting news about The Progressive Corporation (NYSE:PGR) was released by: Benzinga.com and their article: “Progressive Q2 Earnings Preview” with publication date: July 16, 2018.

Eagle Global Advisors Llc, which manages about $3.60 billion and $2.90B US Long portfolio, upped its stake in Plains All Amern Pipeline L (NYSE:PAA) by 85,879 shares to 5.17M shares, valued at $113.90 million in 2018Q1, according to the filing. It also increased its holding in Alphabet Inc by 3,129 shares in the quarter, for a total of 17,331 shares, and has risen its stake in Mplx Lp (NYSE:MPLX).

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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