The Progressive Co. (NYSE:PGR) Insider Andrew J. Quigg Sells 681 Shares

The Progressive Co. (NYSE:PGR) insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the sale, the insider now owns 33,612 shares of the company’s stock, valued at $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Progressive Stock Performance

NYSE PGR opened at $239.55 on Tuesday. The firm’s fifty day moving average price is $251.45 and its two-hundred day moving average price is $240.70. The stock has a market cap of $140.33 billion, a PE ratio of 17.41, a PEG ratio of 0.70 and a beta of 0.41. 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 debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. On average, equities analysts expect that The Progressive Co. will post 13.2 EPS 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 $0.10 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. Progressive’s dividend payout ratio is 2.91%.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of analyst reports. Bank of America lifted their price target on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group lifted their price target on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Roth Mkm lifted their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Barclays dropped their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $275.00.

Institutional Trading of Progressive

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares during the last quarter. Diversified Trust Co grew its stake in shares of Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after purchasing an additional 11,770 shares during the last quarter. Sycomore Asset Management grew its stake in shares of Progressive by 9.5% in the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after purchasing an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Company 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.