The Progressive Co. (NYSE:PGR - Get Free Report) Director Devin C. Johnson sold 400 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total value of $110,016.00. Following the transaction, the director now owns 8,370 shares in the company, valued at $2,302,084.80. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Progressive Stock Down 0.7 %
NYSE PGR opened at $272.49 on Thursday. The business's fifty day simple moving average is $264.03 and its 200-day simple moving average is $255.49. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The firm has a market cap of $159.74 billion, a PE ratio of 18.92, a P/E/G ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52 week low of $201.34 and a 52 week high of $292.99.
Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, equities analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.
Progressive Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, April 3rd. Progressive's dividend payout ratio is presently 2.78%.
Institutional Investors Weigh In On Progressive
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Webster Bank N. A. purchased a new position in shares of Progressive during the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after buying an additional 41 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive during the fourth quarter valued at about $28,000. Finally, Valley National Advisers Inc. raised its stake 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 period. Institutional investors and hedge funds own 85.34% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PGR. BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Barclays upped their price objective on shares of Progressive from $264.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 13th. Keefe, Bruyette & Woods lifted their target price on shares of Progressive from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, March 20th. Hsbc Global Res downgraded shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, Bank of America lowered their price objective on Progressive from $318.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Progressive presently has a consensus rating of "Moderate Buy" and a consensus target price of $281.06.
Read Our Latest Research Report on PGR
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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