Progressive Corp: Big Funds Buying Shares in Third Quarter

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently increased stock shares of Progressive Corp. (NYSE:PGR).

SEC data indicate that these institutions significantly increased their stock shares of Progressive Corp. in Q3 2011:

  • ARTISAN PARTNERS LIMITED PARTNERSHIP: On 06/30/2011, held 0 shares. On 09/30/2011, held 13,047,280 shares, worth $231,719,693.
  • CRAMER ROSENTHAL MCGLYNN LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 7,348,120 shares, worth $130,502,611.
  • ADAGE CAPITAL PARTNERS GP LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 1,768,361 shares, worth $31,406,091.
  • MARSICO CAPITAL MANAGEMENT LLC: On 06/30/2011, held 0 shares. On 09/30/2011, held 970,038 shares, worth $17,227,875.
  • ANALYTIC INVESTORS INC/CA: On 06/30/2011, held 0 shares. On 09/30/2011, held 826,238 shares, worth $14,673,987.

About the company: The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.

Competitors to Watch: Safety Insurance Group, Inc. (NASDAQ:SAFT), The Allstate Corporation (NYSE:ALL), First Acceptance Corp. (NYSE:FAC), 21st Century Holding Co. (NASDAQ:TCHC), Tower Group, Inc. (NASDAQ:TWGP), Mercury General Corp. (NYSE:MCY), White Mountains Insurance Group, Ltd. (NYSE:WTM), Horace Mann Educators Corp. (NYSE:HMN), Infinity Property and Casualty Corp. (NASDAQ:IPCC), and Gainsco, Inc. (AMEX:GAN).

(Note: Data regarding Progressive Corp.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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