National Pension Service Has $276.49 Million Holdings in The Progressive Co. (NYSE:PGR)

National Pension Service increased its position in shares of The Progressive Co. (NYSE:PGR) by 21.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089,558 shares of the insurance provider’s stock after acquiring an additional 191,817 shares during the quarter. National Pension Service owned 0.19% of Progressive worth $276,486,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PGR. Vanguard Group Inc. grew its position in Progressive by 0.6% during the first quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after purchasing an additional 285,070 shares in the last quarter. Capital International Investors grew its position in Progressive by 15.7% during the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares in the last quarter. Legal & General Group Plc grew its position in Progressive by 1.9% during the second quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock valued at $1,022,507,000 after purchasing an additional 92,212 shares in the last quarter. American Century Companies Inc. grew its position in Progressive by 3.0% during the second quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock valued at $497,003,000 after purchasing an additional 69,709 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Progressive by 16.8% during the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after purchasing an additional 244,541 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity at Progressive

In related news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Steven Broz sold 2,982 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $260.00, for a total transaction of $775,320.00. Following the completion of the transaction, the insider now directly owns 29,334 shares in the company, valued at $7,626,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Jo Murphy sold 9,512 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $237.50, for a total transaction of $2,259,100.00. Following the transaction, the insider now owns 45,787 shares of the company’s stock, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,843 shares of company stock worth $18,674,912 in the last ninety days. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PGR has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on shares of Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Barclays boosted their target price on shares of Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average target price of $263.19.

Progressive Price Performance

NYSE:PGR opened at $243.51 on Monday. The stock has a market cap of $142.62 billion, a P/E ratio of 17.64, a PEG ratio of 0.67 and a beta of 0.36. The Progressive Co. has a one year low of $149.14 and a one year high of $260.46. The company has a fifty day moving average price of $250.88 and a 200 day moving average price of $226.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.

Progressive Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.