The Progressive Co. (NYSE:PGR - Get Free Report) CIO Jonathan S. Bauer sold 1,227 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the sale, the executive now owns 28,393 shares of the company's stock, valued at approximately $7,978,433. This represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Progressive Price Performance
Shares of NYSE:PGR opened at $278.74 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a market cap of $163.40 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.70 and a beta of 0.35. The firm has a fifty day moving average price of $255.01 and a 200 day moving average price of $253.08. The Progressive Co. has a fifty-two week low of $195.43 and a fifty-two week high of $287.49.
Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, sell-side analysts expect that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.
Progressive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive's dividend payout ratio (DPR) is 2.78%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PGR. JPMorgan Chase & Co. boosted their target price on shares of Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a research report on Friday, January 3rd. Hsbc Global Res downgraded shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. BMO Capital Markets reduced their price objective on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. HSBC downgraded Progressive from a "buy" rating to a "hold" rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. Finally, Barclays upped their price target on Progressive from $261.00 to $264.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $276.59.
Check Out Our Latest Research Report on PGR
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Webster Bank N. A. bought a new position in Progressive during the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive in the 4th quarter worth about $28,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Progressive during the 4th quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.
Progressive Company Profile
(
Get Free Report)
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.
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