Russell Investments Group Ltd. Buys 14,397 Shares of The Progressive Corporation $PGR

Russell Investments Group Ltd. grew its stake in The Progressive Corporation (NYSE:PGR) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 951,645 shares of the insurance provider’s stock after purchasing an additional 14,397 shares during the period. Russell Investments Group Ltd.’s holdings in Progressive were worth $234,862,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PGR. Illinois Municipal Retirement Fund boosted its position in shares of Progressive by 30.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after acquiring an additional 23,833 shares in the last quarter. Allstate Corp boosted its holdings in Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after purchasing an additional 20,338 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Progressive by 91.7% in the 3rd quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after purchasing an additional 5,600 shares during the period. Mather Group LLC. lifted its position in shares of Progressive by 40.6% during the 3rd quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock worth $4,159,000 after buying an additional 4,865 shares during the period. Finally, Arkadios Wealth Advisors boosted its stake in Progressive by 471.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock valued at $5,556,000 after buying an additional 18,558 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Shares of PGR stock opened at $210.92 on Monday. The firm’s 50 day moving average price is $208.98 and its two-hundred day moving average price is $223.78. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $123.58 billion, a PE ratio of 10.96, a PEG ratio of 9.19 and a beta of 0.33. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99.

Wall Street Analysts Forecast Growth

PGR has been the topic of a number of analyst reports. Citigroup lowered their price target on Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Barclays upgraded shares of Progressive from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $257.00 to $265.00 in a research report on Thursday, January 8th. Mizuho set a $240.00 price target on shares of Progressive in a research report on Wednesday, January 14th. Roth Mkm set a $235.00 target price on shares of Progressive in a research note on Thursday, February 19th. Finally, Evercore set a $230.00 price objective on Progressive in a research report on Thursday, February 19th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus target price of $245.50.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 2,266 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the completion of the transaction, the executive owned 26,250 shares of the company’s stock, valued at $5,330,062.50. The trade was a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maribel Pumarejo sold 739 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,103 shares of company stock worth $1,883,924 over the last three months. Company insiders own 0.33% of the company’s stock.

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.