The Progressive Co. (NYSE:PGR) CEO Sells $2,681,299.09 in Stock

The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith sold 11,021 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the transaction, the chief executive officer now owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Susan Patricia Griffith also recently made the following trade(s):

• On Friday, January 3rd, Susan Patricia Griffith sold 9,066 shares of Progressive stock. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60.

Progressive Stock Up 0.2 %

Shares of NYSE PGR opened at $239.58 on Friday. The stock has a market cap of $140.35 billion, a PE ratio of 17.41, a P/E/G ratio of 0.63 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. The Progressive Co. has a 12-month low of $175.50 and a 12-month high of $270.62. The company has a 50-day moving average of $248.98 and a 200 day moving average of $243.14.

Progressive Dividend Announcement

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

Hedge Funds Weigh In On Progressive

A number of institutional investors have recently added to or reduced their stakes in the stock. Davis Capital Management acquired a new stake in shares of Progressive in the 3rd quarter worth $25,000. Webster Bank N. A. purchased a new stake in shares of Progressive in the fourth quarter valued at about $26,000. DiNuzzo Private Wealth Inc. increased its position in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Progressive during the second quarter worth about $36,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive in the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Bank of America raised their target price on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group raised their price objective on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods cut their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research report on Thursday, December 26th. Finally, Barclays cut their price target on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

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.