The Progressive Co. (NYSE:PGR – Get Free Report) CEO Susan Patricia Griffith sold 43,371 shares of Progressive stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total transaction of $9,281,827.71. Following the transaction, the chief executive officer now directly owns 517,105 shares in the company, valued at $110,665,641.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Progressive Stock Performance
Shares of PGR traded down $0.66 during midday trading on Wednesday, reaching $215.24. The stock had a trading volume of 1,577,630 shares, compared to its average volume of 2,597,647. The company has a current ratio of 0.33, a quick ratio of 0.32 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $210.01 and a 200-day simple moving average of $200.45. The firm has a market cap of $126.07 billion, a PE ratio of 22.18, a P/E/G ratio of 0.76 and a beta of 0.35. The Progressive Co. has a one year low of $121.87 and a one year high of $229.00.
Progressive (NYSE:PGR – Get Free Report) last announced its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The business’s revenue was up 21.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Progressive Co. will post 12.02 EPS for the current year.
Progressive Dividend Announcement
Institutional Investors Weigh In On Progressive
Institutional investors have recently made changes to their positions in the company. Sachetta LLC bought a new stake in shares of Progressive during the fourth quarter worth approximately $25,000. Northwest Bank & Trust Co bought a new stake in shares of Progressive during the fourth quarter worth approximately $25,000. Valley National Advisers Inc. boosted its holdings in shares of Progressive by 143.6% during the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 112 shares during the period. Indiana Trust & Investment Management CO bought a new stake in shares of Progressive during the first quarter worth approximately $32,000. Finally, Hilltop National Bank boosted its holdings in shares of Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the period. Institutional investors own 85.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PGR has been the topic of several recent analyst reports. UBS Group lifted their target price on Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Citigroup cut their price objective on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group increased their target price on Progressive from $256.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Roth Mkm restated a “buy” rating and set a $235.00 target price on shares of Progressive in a report on Wednesday, July 17th. Finally, Wells Fargo & Company upped their price target on shares of Progressive from $243.00 to $254.00 and gave the company an “overweight” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.94.
Get Our Latest Research Report on PGR
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.
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