Westwood Management Has Increased Progressive Corp. (PGR) Stake by $792,000; Martin Currie LTD Has Raised Its Stake in Canadian Natl Ry Co (CNI) as Valuation Rose

June 22, 2018 - By Ellis Scott

The Progressive Corporation (NYSE:PGR) Logo

Martin Currie Ltd increased its stake in Canadian Natl Ry Co (CNI) by 17.26% based on its latest 2018Q1 regulatory filing with the SEC. Martin Currie Ltd bought 19,911 shares as the company’s stock rose 6.45% while stock markets declined. The institutional investor held 135,295 shares of the railroads company at the end of 2018Q1, valued at $9.90 million, up from 115,384 at the end of the previous reported quarter. Martin Currie Ltd who had been investing in Canadian Natl Ry Co for a number of months, seems to be bullish on the $60.27B market cap company. The stock increased 1.08% or $0.86 during the last trading session, reaching $80.6. About 1.05M shares traded. Canadian National Railway Company (NYSE:CNI) has risen 8.49% since June 22, 2017 and is uptrending. It has underperformed by 4.08% the S&P500. Some Historical CNI News: 23/04/2018 – Canadian Natl Railway 1Q EPS C$1.00; 23/04/2018 – Canadian Natl Railway 1Q Rev C$3.19B; 07/03/2018 – Canadian Natl Railway to Deploy Qualified Management Employees to Operate Extra Trains; 07/03/2018 – Canadian Natl Railway to Add Train Crews in Western Canada; 30/05/2018 – CSX Corp: Schwichtenberg Most Recently Worked at Canadian National Railway; 07/03/2018 – Canadian Natl Railway to Offer Incentives for Key Operating Employees to Delay Retirement, Postpone Vacations; 23/04/2018 – CANADIAN NATIONAL 1Q ADJ EPS C$1.00, EST. C$1; 23/04/2018 – CANADIAN NATIONAL RAILWAY CO – IN 2018, CN NOW PLANS TO INVEST APPROXIMATELY C$3.4 BLN IN ITS CAPITAL PROGRAM; 07/03/2018 – Canadian Natl Railway to Offer Incentives for Recently-Retired Operating Employees to Return to Wor; 07/03/2018 – Canadian National Above Peer Average

Westwood Management Corp increased its stake in Progressive Corp. (PGR) by 44% based on its latest 2018Q1 regulatory filing with the SEC. Westwood Management Corp bought 13,200 shares as the company’s stock rose 5.95% while stock markets declined. The institutional investor held 43,200 shares of the property-casualty insurers company at the end of 2018Q1, valued at $2.63M, up from 30,000 at the end of the previous reported quarter. Westwood Management Corp who had been investing in Progressive Corp. for a number of months, seems to be bullish on the $35.40 billion market cap company. The stock decreased 0.44% or $0.27 during the last trading session, reaching $60.78. About 8.30M shares traded or 162.68% up from the average. The Progressive Corporation (NYSE:PGR) has risen 47.50% since June 22, 2017 and is uptrending. It has outperformed by 34.93% the S&P500. Some Historical PGR News: 14/05/2018 – PROGRESSIVE NAMES FIRST FEMALE BOARD CHAIR,: GENDER, RACE PAY; 14/03/2018 – PROGRESSIVE CORP – FEB 2018 NET PREMIUMS EARNED $2,204.7 MLN VS $1,854.8 MLN IN FEB 2017; 09/03/2018 – S&PGR Rates Progressive Sr. Unsec. Debt And Preferred Shares; 17/04/2018 – Progressive 1Q Net $718M; 17/04/2018 – Progressive 1Q EPS $1.22; 17/04/2018 – Progressive 1Q Net Premiums Earned $7.17B, Up 19%; 17/04/2018 – PROGRESSIVE CORP – MARCH NET PREMIUMS WRITTEN $2,538.7 MLN VS $2,047.8 MLN; 09/03/2018 – Fitch Rates The Progressive Corporation’s Preferred Shares ‘BBB+’ and Senior Notes ‘A’; 14/05/2018 – PROGRESSIVE ELECTS LAWTON W. FITT AS CHAIRPERSON; 17/04/2018 – PROGRESSIVE CORP- QTRLY NET PREMIUMS WRITTEN WERE $7,968.8 MLN VS $6,491.0 MLN

More notable recent Canadian National Railway Company (NYSE:CNI) news were published by: Fool.com which released: “4 Great Stocks You Can Buy and Hold Forever” on May 30, 2018, also Streetinsider.com with their article: “Canadian National Railway (CNI) Announces $340M Investment to Fortify Rail Infrastrucutre in BC, Canada” published on June 06, 2018, Globenewswire.com published: “CN investing $30 million in New Brunswick’s rail infrastructure in 2018” on June 22, 2018. More interesting news about Canadian National Railway Company (NYSE:CNI) were released by: Fool.com and their article: “Stock Stories, Vol. 2: You Wouldn’t Think a Railroad Could Be This Unpredictable” published on June 14, 2018 as well as Globenewswire.com‘s news article titled: “CN investing $210 million in Quebec’s rail infrastructure in 2018” with publication date: June 14, 2018.

Martin Currie Ltd, which manages about $1.44 billion US Long portfolio, decreased its stake in Microsoft Corp (NASDAQ:MSFT) by 21,426 shares to 174,563 shares, valued at $15.93 million in 2018Q1, according to the filing. It also reduced its holding in Epam Sys Inc (NYSE:EPAM) by 7,249 shares in the quarter, leaving it with 398,567 shares, and cut its stake in Caterpillar Inc Del (NYSE:CAT).

Among 27 analysts covering Canadian National Railway (NYSE:CNI), 10 have Buy rating, 1 Sell and 16 Hold. Therefore 37% are positive. Canadian National Railway had 79 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was upgraded by Macquarie Research to “Outperform” on Wednesday, January 24. RBC Capital Markets maintained the shares of CNI in report on Wednesday, October 25 with “Outperform” rating. On Tuesday, April 24 the stock rating was maintained by Susquehanna with “Hold”. The stock of Canadian National Railway Company (NYSE:CNI) earned “Buy” rating by Bank of America on Thursday, May 17. As per Friday, February 16, the company rating was downgraded by Argus Research. The stock of Canadian National Railway Company (NYSE:CNI) earned “Outperform” rating by RBC Capital Markets on Wednesday, January 27. Canaccord Genuity upgraded the stock to “Buy” rating in Tuesday, July 21 report. The company was downgraded on Tuesday, April 26 by TD Securities. The firm has “Equal-Weight” rating given on Monday, October 5 by Barclays Capital. On Thursday, January 12 the stock rating was upgraded by Bank of America to “Neutral”.

Investors sentiment decreased to 0.98 in 2018 Q1. Its down 0.19, from 1.17 in 2017Q4. It turned negative, 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. 6,710 are held by Hillsdale Inv Mngmt Incorporated. Legal And General Grp Incorporated Public Ltd Llc invested in 0.14% or 3.00 million shares. Wilbanks Smith Thomas Asset Limited holds 4,980 shares. Confluence Inv Mngmt Lc invested 2.21% of its portfolio in The Progressive Corporation (NYSE:PGR). Mcf Limited holds 0.01% or 500 shares in its portfolio. Barbara Oil Com holds 11,600 shares or 0.46% of its portfolio. Barrett Asset Mgmt Limited Liability Com owns 10,311 shares or 0.04% of their US portfolio. Virginia-based London Of Virginia has invested 1.5% in The Progressive Corporation (NYSE:PGR). The Texas-based Fayez Sarofim And Company has invested 0% in The Progressive Corporation (NYSE:PGR). Citigroup invested in 1.15 million shares. 2,158 were accumulated by Loring Wolcott And Coolidge Fiduciary Advisors Limited Liability Partnership Ma. Moreover, Harvey Ltd Llc has 0.08% invested in The Progressive Corporation (NYSE:PGR) for 7,425 shares. Howe & Rusling Inc stated it has 134 shares or 0% of all its holdings. Greenwood Cap Limited Liability, South Carolina-based fund reported 3,855 shares. Winslow Asset holds 0.27% or 23,350 shares.

Among 21 analysts covering Progressive (NYSE:PGR), 8 have Buy rating, 3 Sell and 10 Hold. Therefore 38% are positive. Progressive had 69 analyst reports since August 6, 2015 according to SRatingsIntel. As per Friday, August 11, the company rating was maintained by Barclays Capital. The stock has “Hold” rating by FBR Capital on Monday, April 16. The stock of The Progressive Corporation (NYSE:PGR) earned “Neutral” rating by Citigroup on Tuesday, December 1. Sandler O’Neill maintained the stock with “Buy” rating in Wednesday, March 14 report. The stock of The Progressive Corporation (NYSE:PGR) has “Buy” rating given on Tuesday, September 19 by UBS. The company was maintained on Friday, May 5 by Wells Fargo. The rating was upgraded by Sandler O’Neill to “Hold” on Thursday, December 17. Keefe Bruyette & Woods maintained The Progressive Corporation (NYSE:PGR) rating on Wednesday, November 15. Keefe Bruyette & Woods has “Buy” rating and $58.0 target. The stock has “Hold” rating by Deutsche Bank on Monday, May 21. The company was upgraded on Monday, March 20 by Bank of America.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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