The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall Sells 191 Shares of Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the transaction, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Progressive Stock Down 1.1 %

PGR stock opened at $239.55 on Tuesday. The Progressive Co. has a fifty-two week low of $162.35 and a fifty-two week high of $270.62. The company has a market capitalization of $140.33 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The business’s 50 day moving average price is $251.45 and its two-hundred day moving average price is $240.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.18. The company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. As a group, analysts forecast that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive’s payout ratio is currently 2.91%.

Institutional Investors Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Davis Capital Management bought a new stake in shares of Progressive in the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Progressive in the second quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Progressive during the third quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new stake in shares of Progressive during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

PGR has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Progressive in a research report on Friday, December 13th. HSBC cut shares of 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. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. The Goldman Sachs Group lifted their price objective on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods raised their price target on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $275.00.

About Progressive

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.