The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith Sells 9,066 Shares

The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith sold 9,066 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $2,194,878.60. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at $114,691,485.60. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Progressive Stock Performance

Shares of PGR traded down $2.67 on Monday, reaching $239.55. 2,126,756 shares of the company’s stock traded hands, compared to its average volume of 2,226,707. The Progressive Co. has a 52-week low of $162.35 and a 52-week high of $270.62. The stock’s 50 day simple moving average is $251.55 and its two-hundred day simple moving average is $240.50. 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 company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25.

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

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Institutional Trading of Progressive

Institutional investors have recently added to or reduced their stakes in the stock. Davis Capital Management purchased a new position in Progressive during the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring 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. Sachetta LLC raised its stake in Progressive by 34.0% in the second quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 53 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Progressive during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of a number of recent research reports. Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. TD Cowen boosted 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. BMO Capital Markets dropped their target price on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Keefe, Bruyette & Woods lifted their price objective on Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.00.

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.