The Progressive Co. (NYSE:PGR) CAO Sells $142,324.65 in Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $142,324.65. Following the completion of the sale, the chief accounting officer now owns 3,983 shares of the company’s stock, valued at $969,024.07. The trade was a 12.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10.

Progressive Stock Performance

NYSE:PGR traded up $0.41 during trading hours on Thursday, reaching $239.58. 2,554,398 shares of the company’s stock were exchanged, compared to its average volume of 2,671,414. The Progressive Co. has a 1-year low of $175.50 and a 1-year high of $270.62. The firm has a market capitalization of $140.35 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 0.63 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $248.98 and a 200 day moving average of $243.14.

Progressive Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on PGR shares. BMO Capital Markets reduced their target price 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. Evercore ISI lifted their price objective on shares of Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a research note on Tuesday, December 10th. TD Cowen lifted their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Progressive currently has an average rating of “Moderate Buy” and an average price target of $274.65.

Institutional Trading of Progressive

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Jennison Associates LLC boosted its position in shares of Progressive by 21.6% in the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock worth $1,205,266,000 after acquiring an additional 842,109 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Progressive by 75.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,494,084 shares of the insurance provider’s stock worth $379,139,000 after acquiring an additional 641,943 shares during the last quarter. International Assets Investment Management LLC lifted its position in Progressive by 29,701.6% during the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after buying an additional 594,330 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Progressive by 206.8% during the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after buying an additional 590,235 shares in the last quarter. Institutional investors and hedge funds 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.