Thursday’s Top Trending Tickers: CAB, PGR, CY, SJM, GE

J M Smucker Raises Dividend

Although the company might be a boring consumer staple, J M Smucker Co (NYSE:SJM) shareholders have something to cheer about today, as the company raised its quarterly dividend to $0.75 per share from $0.67 per share. At current prices, the quarterly dividend translates to a forward yield of almost 2%, which is almost one-third higher than the current 10-year Treasury yield. 27 funds in our database owned shares of J M Smucker Co (NYSE:SJM) at the end of the first quarter, a dip of three funds from the end of the fourth quarter of 2015.

GE Joint Venture Reports Big Contract Wins

General Electric Company (NYSE:GE) shares have inched up by 0.7% in morning trading after CFM International, GE’s joint venture with France’s Safran, reported winning deals worth $8.2 billion at an airshow. The deals include long-term service agreements, orders, and commitments for 565 jet engines. General Electric shares have rallied by 5.5% year-to-date, largely on the back of broader market strength and news that the GE Capital unit is no longer too big to fail. Warren Buffett‘s Berkshire Hathaway owned more than 10 million shares of General Electric Company (NYSE:GE) at the end of March.

Progressive Reports Earnings

Progressive Corp (NYSE:PGR) shares have inched up by half-a-percentage-point after the insurer reported in-line earnings of $0.33 per share and better than expected revenue of $5.93 billion for the second quarter. Net premiums written rose by 13% year-over-year, while the company’s combined ratio rose by 4.3 points to 96.8. Book value per share was $13.47 at the end of June. Jim Simons‘ Renaissance Technologies increased its position in Progressive Corp (NYSE:PGR) by 504% to 1.70 million shares as of the end of the first quarter.

Disclosure: None