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 Stock Performance
PGR opened at $279.54 on Friday. 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 Progressive Co. has a 1 year low of $199.54 and a 1 year high of $287.49. The firm has a fifty day moving average price of $257.30 and a 200 day moving average price of $253.68. The stock has a market cap of $163.87 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.70 and a beta of 0.35.
Progressive Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.10 per share. 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 2.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective 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. Wells Fargo & Company increased their price objective on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Barclays boosted their price target on shares of Progressive from $264.00 to $285.00 and gave the company an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods cut their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Bank of America decreased their price target on Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $277.82.
Get Our Latest Stock Analysis on Progressive
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of PGR. Verdence Capital Advisors LLC grew its stake in shares of Progressive by 35.3% during the third quarter. Verdence Capital Advisors LLC now owns 1,356 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 354 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Progressive during the 3rd quarter valued at about $450,000. Versor Investments LP grew its stake in shares of Progressive by 200.5% in the 3rd quarter. Versor Investments LP now owns 3,005 shares of the insurance provider’s stock worth $763,000 after purchasing an additional 2,005 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Progressive by 11.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,343 shares of the insurance provider’s stock worth $3,386,000 after purchasing an additional 1,422 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Progressive by 0.9% during the third quarter. Baillie Gifford & Co. now owns 77,756 shares of the insurance provider’s stock valued at $19,731,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Insider Buying and Selling
In other Progressive news, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $238.66, for a total value of $2,386,600.00. Following the completion of the transaction, the chief financial officer now owns 282,958 shares in the company, valued at $67,530,756.28. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,257 shares of company stock worth $15,752,781. Corporate insiders own 0.34% of the company’s stock.
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.
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