The Progressive Corporation $PGR Holdings Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 951,645 shares of the insurance provider’s stock after buying an additional 14,397 shares during the period. Russell Investments Group Ltd. owned approximately 0.16% of Progressive worth $234,862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PGR. Norges Bank acquired a new position in shares of Progressive in the 2nd quarter valued at about $2,156,939,000. Alliancebernstein L.P. boosted its holdings in shares of Progressive by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after purchasing an additional 2,709,417 shares during the period. Vanguard Group Inc. grew its position in Progressive by 0.9% during the second quarter. Vanguard Group Inc. now owns 54,516,288 shares of the insurance provider’s stock valued at $14,548,217,000 after purchasing an additional 493,332 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in Progressive during the second quarter valued at approximately $117,057,000. Finally, First Trust Advisors LP increased its stake in Progressive by 154.3% in the 2nd quarter. First Trust Advisors LP now owns 673,646 shares of the insurance provider’s stock valued at $179,769,000 after buying an additional 408,779 shares during the period. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Progressive news, insider Steven Broz sold 1,344 shares of Progressive stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $224.80, for a total value of $302,131.20. Following the transaction, the insider directly owned 26,354 shares of the company’s stock, valued at $5,924,379.20. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the transaction, the insider owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,103 shares of company stock valued at $1,883,924. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PGR shares. Keefe, Bruyette & Woods increased their target price on shares of Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a research report on Thursday, February 19th. Roth Mkm set a $235.00 price target on shares of Progressive in a research note on Thursday, February 19th. HSBC lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley reduced their price objective on Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a research report on Wednesday, January 28th. Finally, Barclays raised Progressive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $257.00 to $265.00 in a research report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $245.50.

Progressive Price Performance

NYSE PGR opened at $210.92 on Monday. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The company has a fifty day simple moving average of $208.98 and a 200 day simple moving average of $223.78. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market cap of $123.58 billion, a P/E ratio of 10.96, a P/E/G ratio of 9.19 and a beta of 0.33.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.