The Progressive Corporation (PGR) compared to the 20 largest hedge fund stocks in 2019

It is already well known that individual investors generally do not have the resources and skills required to properly research an investment opportunity. As a result, most investors choose their illusory “winners” by doing a superficial analysis and research that results in poor performance overall. Since equity returns are usually not symmetrically distributed and index returns are more influenced by some outlier stocks (ie the FAANG stocks that have dominated and dominated the returns of the S&P 500 index in recent years), more than 50% of the Components of the Standard and Poor’s 500 from The index underperformed the benchmark. So if you choose a stock at random, there is a greater than 50% chance that you won't hit the market. At the same time, the 20 most popular S&P 500 stocks in the hedge funds monitored by Insider Monkey outperformed in 2019 by more than 10 percentage points. Of course, hedge funds occasionally make wrong bets, and these are disproportionately publicized in the financial media, but piggybacking can beat the broader market on average. For this reason, we will examine recent hedge fund activities at The Progressive Corporation (NYSE: PGR).

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "The Progressive Corporation (NYSE: PGR) was represented in 48 hedge fund portfolios at the end of September. PGR investors should be aware that support from the world's best money managers has waned in recent months. At the end of the previous quarter there were 50 hedge funds with PGR positions in our database. Our calculations also showed that PGR is not among the 30 most popular stocks among hedge funds (click for third quarter rankings and see the video at the end of this article for second quarter rankings). "Data reactid =" 12 ">The Progressive Corporation (NYSE: PGR) was represented in 48 hedge fund portfolios at the end of September. PGR investors should be aware that support from the world's best money managers has waned in recent months. At the end of the previous quarter there were 50 hedge funds with PGR positions in our database. Our calculations also showed that PGR is not among the 30 most popular stocks among hedge funds (click for the third quarter rankings and watch the video at the end of this article for the second quarter rankings).

If you ask most market participants, hedge funds are perceived as slow, old investment vehicles of the past few years. There are currently over 8,000 funds with open doors. However, we focus on the mogul slope of this group, around 750 funds. These hedge fund managers manage most of the total capital of smart money. By tracking their top performing equity investments, Insider Monkey has uncovered some investment strategies that have outperformed the broader indices in the past. Insider Monkey's flagship short hedge fund strategy has outperformed the S&P 500's short ETFs by around 20 percentage points annually since launch in May 2014. Our portfolio of short stocks lost 27.8% since February 2017 (through November 21), although the market rose more than 39% over the same period. We have just released a list of 7 short destinations in our last quarterly update.

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(ID of the caption = "attachment_26073" align = "alignnone" width = "600") Jim Simons from Renaissance Technologies (/ caption)

RENAISSANCE TECHNOLOGIES

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "We leave no stone unturned in the search for the next Great investment idea , for example, Discover offers This crazy cashback cardSo let's look at shortening the stock. One of the most bullish analysts in America just put his money where his mouth is. He says: "Today I invest more than in early 2009." So we check out its pitch, We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We're even considering this genius option weekly trading ideas, This December, we recommended Adams Energy as a one-way bet based on a fund manager's letter to investors. The share has already increased by 20 percent. Now let's take a look at the key hedge fund actions related to The Progressive Corporation (NYSE: PGR). "Data-reactid =" 35 "> When it comes to finding the next great investment idea, we don't leave any stone unturned This crazy cashback cardSo let's look at shortening the stock. One of the most bullish analysts in America just put his money where his mouth is. He says: "Today I invest more than in early 2009." So we check out its pitch, We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. We're even considering this genius option weekly trading ideas, This December, we recommended Adams Energy as a one-way bet based on a fund manager's letter to investors. The share has already increased by 20 percent. Now let's take a look at the key hedge fund measures related to The Progressive Corporation (NYSE: PGR).

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Hedge fund activity in the Progressive Corporation (NYSE: PGR)

On the way to the fourth quarter of 2019, a total of 48 of the hedge funds pursued by Insider Monkey were optimistic, which corresponds to a change of -4% compared to the previous quarter. Below you can read the change in the mood of the hedge funds towards PGR in the last 17 quarters. As the capital of smart money changes hands, there is an "upper tier" of remarkable hedge fund managers who have increased their bets significantly (or have already built up large positions).

Is PGR a good stock to buy?

The largest stake in The Progressive Corporation (NYSE: PGR) was held by Renaissance Technologies, which held $ 446.1 million in stock at the end of September. AQR Capital Management followed with a position of $ 220.2 million. The company's other optimistic investors included Two Sigma Advisors, D E Shaw and Ariel Investments. In relation to the portfolio weights assigned to each position, Steel Canyon Capital assigned the most weight to Progressive Corporation (NYSE: PGR) with around 12.12% of its 13F portfolio. One Tusk Investment Partners is also relatively optimistic about the stock and plans 8.48 percent of its 13F stock portfolio for PGR.

With the Progressive Corporation (NYSE: PGR) experiencing a downturn in the entirety of the hedge funds we cover, it can be said with certainty that there was a certain group of fund managers who decided to complete their positions in the last quarter dismantle. It's worth noting that Christopher James & # 39; Partner Fund Management said goodbye to the largest portion of all the $ 52.2 million hedgies pursued by Insider Monkey, and Gregg Moskowitz & # 39; Interval Partners was right behind this move as the fund lost around $ 6 million worth. These declining behaviors are important as hedge fund total interest rates fell 2 funds in the last quarter.

Now let's review hedge fund activity in other stocks that are similar to The Progressive Corporation (NYSE: PGR). We'll take a look at Illumina, Inc. (NASDAQ: ILMN), Baxter International Inc. (NYSE: BAX), Las Vegas Sands Corp. (NYSE: LVS) and Metlife Inc (NYSE: MET). The market valuations of this group of stocks are similar to PGR's market valuations.

(Table) Ticker, number of HFs with positions, total value of the HF positions (x1000), change of the HF position ILMN, 37.1183062, -6 BAX, 33.2445089, -1 LVS, 39.1983338.0 MET, 35 average, 2050364.9, 36.1915463.0.5 (/ table)

View the table here if formatting problems occur.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "As you can see, these stocks had an average of 36 Hedge funds with bullish positions and an average investment in these stocks of $ 1915 million, in the case of PGR $ 1563 million.Las Vegas Sands Corp. (NYSE: LVS) is the most popular stock in this table Baxter International Inc. (NYSE: BAX) is the least popular stock compared to these stocks, with only 33 bullish hedge fund positions, with Progressive Corporation (NYSE: PGR) being more popular among hedge funds December 2019, up 41.1% and outperformed the S&P 500 ETF (SPY) by 10.1 percentage points.Unfortunately, PGR was nowhere near as popular as those 20 stocks and hedge funds that had bet on PGR were disappointed 2019 (until 23.12.) 23.9% so far and left the market behind Ange For large cap stocks with high upside potential, you should look at the 20 most popular hedge fund stocks as 65 percent of these stocks outperformed the market in 2019. Video: Click on the image to watch our video on the five most popular hedge fund stocks."data-reactid =" 67 "> As you can see, these stocks had an average of 36 hedge funds with optimistic positions and an average investment volume of $ 1915 million, which in the case of PGR was $ 1563 million Las Vegas Sands Corp. (NYSE: LVS) is the most popular stock in this table, while Baxter International Inc. (NYSE: BAX) is the least popular stock with only 33 bullish hedge fund positions, compared to The Stock Progressive Corporation (NYSE): PGR) is more popular among hedge funds: our calculations showed that the 20 most popular hedge fund stocks achieved a return of 41.1% by December 23, 2019 and the S&P 500 ETF (SPY) by 10 , 1 percentage point As popular as these 20 stocks and hedge funds that had bet on PGR were disappointed when the stock returned 23.9% in 2019 (through Dec. 23) and lagged the market when it came to large cap stocks gr potential, you should check out the top 20 most popular stocks among hedge funds, as 65 percent of these stocks outperformed the market in 2019. Video: Click on the image to watch our video on the five most popular hedge fund stocks.

The 5 most popular stocks among hedge funds

Disclosure: none. This article was originally published by Insider Monkey.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Related content"data-reactid =" 81 ">Related content

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