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Headlines
- MAI Capital Management reduces its position in Progressive Co. (NYSE:PGR)
- Key institutional investors adjust their holdings in Progressive
- Progressive continues to attract significant institutional interest
MAI Capital Management has made adjustments to its stake in The Progressive Co. (NYSE:PGR), reducing its holdings by 5.7% in the third quarter. The institutional investor now holds 58,821 shares of the insurance provider after selling 3,582 shares. This reduction reflects changes in the investment landscape, with MAI Capital’s stake valued at approximately $14.93 million.
Other institutional investors have also made noteworthy moves regarding Progressive stock. Raleigh Capital Management increased its position by 20.9%, acquiring an additional 41 shares during the period. As a result, the firm now owns 237 shares, valued at about $60,000.
Similarly, Castleview Partners LLC expanded its holdings by 2.7%, purchasing an additional 45 shares, bringing its total to 1,712 shares worth roughly $434,000. Washington Trust Bank raised its stake by 4.6%, adding 45 more shares, and now holds 1,024 shares valued at approximately $260,000.
Sunbelt Securities Inc. grew its position by 21.3%, purchasing 46 more shares in the second quarter. The firm now holds 262 shares, valued at about $54,000. Whittier Trust Co. of Nevada also increased its holdings by 11.8%, acquiring an additional 48 shares, bringing its total to 455 shares valued at approximately $95,000.
Notably, institutional investors now own 85.34% of Progressive's stock, highlighting continued interest and investment in the company. This trend reflects the confidence placed in Progressive by major financial institutions, even amidst shifting market conditions.
