The Progressive Corporation $PGR Stock Holdings Raised by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its stake in The Progressive Corporation (NYSE:PGR) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 243,762 shares of the insurance provider’s stock after purchasing an additional 4,902 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Progressive were worth $48,323,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Compound Planning Inc. grew its stake in Progressive by 23.2% in the first quarter. Compound Planning Inc. now owns 6,613 shares of the insurance provider’s stock worth $1,311,000 after purchasing an additional 1,245 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in Progressive during the first quarter valued at approximately $210,000. Arrowstreet Capital Limited Partnership lifted its holdings in Progressive by 20.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,663,827 shares of the insurance provider’s stock worth $528,077,000 after buying an additional 457,085 shares during the last quarter. Liberty One Investment Management LLC lifted its holdings in Progressive by 1,544.0% during the 1st quarter. Liberty One Investment Management LLC now owns 1,381 shares of the insurance provider’s stock worth $274,000 after buying an additional 1,297 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Progressive by 31.1% in the 1st quarter. Sei Investments Co. now owns 685,457 shares of the insurance provider’s stock worth $135,885,000 after acquiring an additional 162,609 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the transaction, the insider directly owned 41,290 shares in the company, valued at approximately $8,258,000. The trade was a 12.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the transaction, the insider owned 27,511 shares of the company’s stock, valued at $5,633,152.36. This represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 15,230 shares of company stock valued at $3,165,817. Insiders own 0.32% of the company’s stock.

Progressive Trading Up 1.2%

Shares of NYSE:PGR opened at $207.06 on Friday. The company has a market cap of $120.99 billion, a PE ratio of 10.38, a P/E/G ratio of 2.75 and a beta of 0.26. The company’s 50-day moving average price is $209.60 and its 200 day moving average price is $205.86. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $254.93. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of 0.24.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

Analysts Set New Price Targets

PGR has been the topic of several research reports. BMO Capital Markets dropped their price target on Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, July 16th. UBS Group lifted their price objective on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods lowered their target price on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a research note on Thursday, July 16th. Wells Fargo & Company reduced their price target on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a research report on Thursday, July 16th. Finally, HSBC lifted their price target on shares of Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $236.11.

Progressive 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.