Villere ST Denis J & Co. LLC owns a big piece of The Progressive Corporation. This investment firm now holds a $24.24 million stake in the insurance company. This shows a continued belief in Progressive’s business.
Villere’s Progressive Holdings
Villere recently shared its investment details. They filed these with the U.S. financial watchdog, the SEC. This filing came out for the first quarter of 2024.
The report shows Villere holds 131,706 Class C shares of Progressive. These shares are worth $24.24 million. This makes up about 1.9% of Villere’s entire investment portfolio.
The firm did make a small change. They reduced their stake slightly. Villere sold 800 shares of Progressive. This was a tiny 0.6% drop from their previous holding.
However, their overall investment remains very strong. This means Villere still sees good value in Progressive. You can check public SEC filings for more data.
Progressive’s Market Appeal
Progressive’s stock has done very well recently. Its market value has climbed significantly. Many big money managers also like Progressive.
Other major investors hold large amounts of Progressive shares. Norges Bank, for example, is a huge owner. The Teachers Retirement System of Texas also invests heavily. State of New Jersey Common Pension Fund D holds many shares too.
Principal Financial Group Inc. is another big name investor. Why do so many large funds buy Progressive? The company provides car and home insurance. These are services people always need.
This creates a very stable business. Progressive often pays dividends to shareholders. A dividend is a payment from the company’s profits. This makes the stock even more attractive to investors.
Villere’s continued investment signals confidence. They likely expect more growth from Progressive. Do you own any insurance stocks yourself? Understanding how stocks work can help your own investments.
