The Progressive Co. (NYSE:PGR) CAO Sells $46,241.10 in Stock

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

Progressive Stock Performance

Shares of PGR stock opened at $243.45 on Thursday. The stock has a market cap of $142.62 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The stock has a 50-day moving average of $251.47 and a 200-day moving average of $240.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a one year low of $164.16 and a one year high of $270.62.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, sell-side analysts expect that The Progressive Co. will post 13.2 earnings per share for the current 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 0.16%. The ex-dividend date is Friday, January 10th. Progressive’s payout ratio is presently 2.91%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets reduced their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Roth Mkm increased their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. increased its stake in Progressive by 10.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 509 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 48 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Progressive by 1.6% during the second quarter. Private Advisor Group LLC now owns 10,782 shares of the insurance provider’s stock worth $2,240,000 after acquiring an additional 172 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Progressive by 16.9% during the second quarter. Savant Capital LLC now owns 9,490 shares of the insurance provider’s stock worth $1,971,000 after acquiring an additional 1,369 shares during the period. Acadian Asset Management LLC lifted its position in Progressive by 91.7% in the 2nd quarter. Acadian Asset Management LLC now owns 667,956 shares of the insurance provider’s stock valued at $138,721,000 after acquiring an additional 319,584 shares in the last quarter. Finally, Custom Index Systems LLC boosted its stake in Progressive by 8.1% in the 2nd quarter. Custom Index Systems LLC now owns 2,330 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 175 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

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.