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 business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the transaction, the insider now owns 33,612 shares in the company, valued at approximately $8,137,465.20. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Progressive Trading Down 1.1 %

Shares of PGR stock opened at $239.55 on Tuesday. The Progressive Co. has a 52-week low of $162.35 and a 52-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. The company has a 50-day simple moving average of $251.45 and a two-hundred day simple moving average of $240.70. The company has a market capitalization of $140.33 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.70 and a beta of 0.41.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The business had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Research analysts anticipate that The Progressive Co. will post 13.2 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s dividend payout ratio is currently 2.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. 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. JPMorgan Chase & Co. upped their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday. Barclays dropped their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday. TD Cowen upped their price objective on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Raymond James upgraded shares of 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. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.00.

Institutional Inflows and Outflows

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

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.