The Progressive Co. (NYSE:PGR – Get Free Report) CFO John P. Sauerland sold 1,542 shares of Progressive stock in a transaction on Monday, March 17th. The stock was sold at an average price of $282.66, for a total transaction of $435,861.72. Following the completion of the transaction, the chief financial officer now owns 268,024 shares in the company, valued at approximately $75,759,663.84. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Progressive Stock Down 1.9 %
PGR stock traded down $5.59 during midday trading on Tuesday, hitting $285.64. The company’s stock had a trading volume of 1,172,954 shares, compared to its average volume of 2,387,392. The firm’s 50-day moving average is $259.18 and its 200-day moving average is $254.36. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 12 month low of $201.34 and a 12 month high of $294.22. The company has a market cap of $167.44 billion, a PE ratio of 19.84, a P/E/G ratio of 1.70 and a beta of 0.35.
Progressive (NYSE:PGR – Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, equities research analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.
Progressive Dividend Announcement
Analysts Set New Price Targets
Several research firms have recently commented on PGR. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America dropped their price objective on Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Barclays increased their price target on shares of Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday, March 13th. Finally, BMO Capital Markets decreased their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.76.
Check Out Our Latest Research Report on Progressive
Institutional Trading of Progressive
Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Progressive during the 4th quarter valued at about $1,843,045,000. GQG Partners LLC raised its position in Progressive by 67.6% in the fourth quarter. GQG Partners LLC now owns 5,171,501 shares of the insurance provider’s stock worth $1,239,143,000 after acquiring an additional 2,085,833 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Progressive during the 4th quarter worth $408,416,000. Geode Capital Management LLC grew its position in shares of Progressive by 13.2% during the 3rd quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after acquiring an additional 1,682,213 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Progressive by 34.3% in the 4th quarter. Capital Research Global Investors now owns 6,058,187 shares of the insurance provider’s stock worth $1,451,602,000 after purchasing an additional 1,547,677 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
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.
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