The Progressive Corporation $PGR Stock Acquired by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in The Progressive Corporation (NYSE:PGR) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,579 shares of the insurance provider’s stock after acquiring an additional 4,429 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Progressive were worth $14,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PGR. BlackRock Inc. purchased a new stake in Progressive during the 2nd quarter valued at approximately $10,496,271,000. State Street Corp raised its position in shares of Progressive by 2.5% during the second quarter. State Street Corp now owns 26,526,959 shares of the insurance provider’s stock valued at $5,794,814,000 after buying an additional 656,249 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Progressive during the second quarter valued at approximately $2,682,342,000. GQG Partners LLC purchased a new position in shares of Progressive in the second quarter worth $1,538,570,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Progressive by 6.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,784,205 shares of the insurance provider’s stock worth $1,482,010,000 after buying an additional 410,326 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.8%

Shares of PGR opened at $235.51 on Friday. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $241.02. The company has a 50-day moving average of $219.72 and a 200 day moving average of $210.51. The firm has a market capitalization of $136.44 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.70 and a beta of 0.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29.

Analyst Ratings Changes

A number of analysts have issued reports on PGR shares. Weiss Ratings upgraded shares of Progressive from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. TD Cowen decreased their price target on shares of Progressive from $266.00 to $222.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. UBS Group reissued a “neutral” rating and set a $238.00 price objective on shares of Progressive in a report on Monday, October 19th. Barclays raised their price objective on Progressive from $246.00 to $247.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Finally, HSBC reaffirmed a “hold” rating and issued a $216.00 target price (down from $221.00) on shares of Progressive in a report on Wednesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $234.45.

Insider Buying and Selling

In related news, insider Steven Broz sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $223.32, for a total value of $273,567.00. Following the completion of the sale, the insider owned 28,807 shares in the company, valued at approximately $6,433,179.24. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Griffith sold 37,338 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $219.50, for a total value of $8,195,691.00. Following the completion of the transaction, the chief executive officer directly owned 485,438 shares in the company, valued at approximately $106,553,641. This trade represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 41,013 shares of company stock worth $8,988,278. Corporate insiders own 0.32% of the company’s stock.

About Progressive

Progressive Corporation is an insurance company founded in 1937 and headquartered in Mayfield Village, Ohio. It provides personal and commercial insurance, with a major focus on automobile coverage. The company offers auto insurance for individuals and businesses, as well as coverage for motorcycles, boats, recreational vehicles, homes and renters. Progressive sells through independent insurance agents and directly to customers, including through digital channels. Its Snapshot program uses driving data to help determine auto insurance rates for participating customers.