The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall Sells 650 Shares

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total value of $135,271.50. Following the transaction, the chief accounting officer now owns 3,981 shares of the company’s stock, valued at approximately $828,485.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Progressive Price Performance

Progressive stock opened at $210.75 on Wednesday. The company has a fifty day simple moving average of $209.16 and a 200-day simple moving average of $191.19. The firm has a market capitalization of $123.44 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.79 and a beta of 0.35. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. The Progressive Co. has a 52-week low of $111.41 and a 52-week high of $217.77.

Progressive (NYSE:PGR) last released its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. Progressive’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, equities analysts anticipate that The Progressive Co. will post 11.46 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Wednesday, July 3rd. Progressive’s dividend payout ratio (DPR) is currently 4.09%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PGR shares. UBS Group lifted their price target on Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on shares of Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Keefe, Bruyette & Woods increased their price target on shares of Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on shares of Progressive from $243.00 to $254.00 and gave the company an “overweight” rating in a report on Monday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $235.00 target price on shares of Progressive in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $216.81.

Institutional Trading of Progressive

A number of hedge funds and other institutional investors have recently modified their holdings of PGR. American Trust acquired a new stake in shares of Progressive during the 1st quarter worth approximately $1,082,000. DekaBank Deutsche Girozentrale increased its stake in Progressive by 5.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 703,819 shares of the insurance provider’s stock worth $144,451,000 after acquiring an additional 37,063 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Progressive by 4.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 200,683 shares of the insurance provider’s stock valued at $41,504,000 after purchasing an additional 9,130 shares during the period. Cetera Advisors LLC lifted its stake in shares of Progressive by 59.6% in the 1st quarter. Cetera Advisors LLC now owns 18,075 shares of the insurance provider’s stock valued at $3,738,000 after purchasing an additional 6,752 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Progressive by 259.1% during the 1st quarter. Cetera Investment Advisers now owns 67,074 shares of the insurance provider’s stock worth $13,872,000 after purchasing an additional 48,397 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

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.