These Insiders and Funds Sell Progressive Shares in Q3

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 decreased stock shares of Progressive Corp. (NYSE:PGR).

SEC data indicate these insiders have sold Progressive Corp.’s stock since 06/30/2011:

  • Voelker Raymond M: act as Chief Information. On 10/19/2011, sold 6,100 shares, worth $112,500.

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

  • ARTISAN PARTNERS HOLDINGS LP: On 06/30/2011, held 11,228,770 shares, worth $240,071,103. On 09/30/2011, held 0 shares.
  • KARSCH CAPITAL MANAGEMENT LP: On 06/30/2011, held 3,514,720 shares, worth $75,144,714. On 09/30/2011, held 0 shares.
  • CITADEL ADVISORS LLC: On 06/30/2011, held 1,923,955 shares, worth $41,134,158. On 09/30/2011, held 0 shares.
  • UBS OCONNOR LLC: On 06/30/2011, held 1,071,643 shares, worth $22,911,727. On 09/30/2011, held 0 shares.
  • PINEBRIDGE INVESTMENTS LLC: On 06/30/2011, held 616,362 shares, worth $13,177,820. On 09/30/2011, held 0 shares.

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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