Published on 1 Aug 2022 on Insider Monkey via Yahoo Finance

Giverny Capital Asset Management Trimmed its Position in Progressive Corp. (PGR)

Giverny Capital Asset Management LLC recently published its second quarter investor letter 2022, which can be downloaded here.  The fund’s model portfolio returns declined by 18.48% net of fees in the second quarter of 2022. The current events in the market influenced the stocks’ short-term prices. The fund generated an annualized return of 17.02% over the last nine quarters, net of fees. You can check the top 5 holdings of the fund to see its best picks for 2022.

In the second quarter 2022 letter, Giverny Capital Asset Management discussed the performance of its portfolios over the last few years. The Progressive Corporation (NYSE:PGR) is the fund’s second-largest holding. The Progressive Corporation (NYSE:PGR) is an insurance company headquartered in Mayfield, Ohio, and has a market capitalization of $67.299 billion. The stock of The Progressive Corporation (NYSE:PGR) closed at $115.06 per share on July 29, 2022. In one month period, the return of The Progressive Corporation (NYSE:PGR) is -2.89%. whereas the shares gained 21.06% of their value over the last 52 weeks.

Here is what Giverny Capital Asset Management specifically said about The Progressive Corporation (NYSE:PGR):