Progressive
PGR
427 hedge funds and large institutions have $11.3B invested in Progressive in 2014 Q3 according to their latest regulatory filings, with 44 funds opening new positions, 138 increasing their positions, 170 reducing their positions, and 33 closing their positions.
33% more first-time investments, than exits
New positions opened: 44 | Existing positions closed: 33
17% more funds holding in top 10
Funds holding in top 10: 6 → 7 (+1)
2.9% more ownership
Funds ownership: 72.87% → 75.77% (+2.9%)
2% more funds holding
Funds holding: 420 → 427 (+7)
3% more capital invested
Capital invested by funds: $10.9B → $11.3B (+$367M)
3% less call options, than puts
Call options by funds: $5.77M | Put options by funds: $5.97M
19% less repeat investments, than reductions
Existing positions increased: 138 | Existing positions reduced: 170
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FMI
Fiduciary Management Inc
Milwaukee,
Wisconsin
|
+$492M |
| 2 |
JP Morgan Chase
New York
|
+$195M |
| 3 |
Primecap Management
Pasadena,
California
|
+$67.5M |
| 4 |
Neuberger Berman Group
New York
|
+$66.3M |
| 5 |
Victory Capital Management
San Antonio,
Texas
|
+$45.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JSP
Jackson Square Partners
Larkspur,
California
|
-$301M |
| 2 |
Mackenzie Financial
Toronto Ontario,
Ontario, Canada
|
-$140M |
| 3 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$96.6M |
| 4 |
Capital Research Global Investors
Los Angeles,
California
|
-$95.6M |
| 5 |
Aristotle Capital Management
Los Angeles,
California
|
-$77.3M |
PGR Hedge Fund Activity: Q3 2014 in Review
427 of the 3,455 institutional investors tracked by Wall St. Rank reported a position in Progressive (PGR) for Q3 2014, worth a combined $11.3B — up 3.4% from $10.9B a quarter earlier.
Buyers outnumbered sellers: 44 funds opened new PGR positions and 33 closed out — a net gain of 11 holders — while 138 added to existing stakes and 170 trimmed.
The largest buyer was Fiduciary Management Inc, opening a new position worth an estimated $492M. The largest seller was Jackson Square Partners, exiting entirely with an estimated $301M sold.
- 427 institutional investors held Progressive (PGR) as of Q3 2014, up from 420 in Q2 2014.
- Funds reported $11.3B of Progressive stock for Q3 2014, up 3.4% quarter-over-quarter.
- 44 funds opened new Progressive positions in Q3 2014 and 33 closed out, a net change of +11 holders.
- The largest Progressive buyer in Q3 2014 was Fiduciary Management Inc, an estimated $492M added.
- The largest Progressive seller in Q3 2014 was Jackson Square Partners, an estimated $301M sold.
Based on aggregated 13F filings for Q3 2014.