Progressive (NYSE:PGR) Shares Acquired Rep. Julie Johnson

Representative Julie Johnson (D-Texas) recently bought shares of The Progressive Co. (NYSE:PGR). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on February 24th. The trade occurred in the Representative’s “CHASE BROKERAGE ACCOUNT (3935)” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/14/2025.

Progressive Trading Up 0.7 %

Shares of Progressive stock opened at $279.54 on Friday. The firm has a market capitalization of $163.87 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company’s fifty day moving average price is $257.30 and its two-hundred day moving average price is $253.68. The Progressive Co. has a 52-week low of $199.54 and a 52-week high of $287.49.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Institutional Trading of Progressive

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kesler Norman & Wride LLC increased its stake in shares of Progressive by 1.1% in the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider’s stock valued at $885,000 after acquiring an additional 40 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. LRI Investments LLC increased its stake in shares of Progressive by 16.5% in the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares during the last quarter. Washington Trust Bank increased its stake in Progressive by 4.1% during the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 42 shares in the last quarter. Finally, SYM FINANCIAL Corp increased its stake in Progressive by 2.8% during the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CIO Jonathan S. Bauer sold 1,227 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $281.00, for a total transaction of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares of the company’s stock, valued at approximately $7,978,433. This represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick K. Callahan sold 4,669 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $279.70, for a total value of $1,305,919.30. Following the sale, the insider now directly owns 15,191 shares of the company’s stock, valued at approximately $4,248,922.70. The trade was a 23.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,257 shares of company stock valued at $15,752,781. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on PGR shares. Roth Mkm boosted their price target on shares of Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. 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 note on Monday, December 16th. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods reduced their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their price target 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $277.82.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.