Progressive Corp (NYSE:PGR) announced a quarterly dividend on Thursday, December 12th, Wall Street Journal reports. Investors of record on Wednesday, January 8th will be given a dividend of 0.10 per share by the insurance provider on Wednesday, January 15th. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, January 7th.
NYSE:PGR opened at $72.69 on Friday. The stock has a market cap of $41.60 billion, a P/E ratio of 16.45, a PEG ratio of 1.82 and a beta of 0.66. The stock has a 50 day simple moving average of $71.45 and a 200 day simple moving average of $76.78. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. Progressive has a 1-year low of $56.71 and a 1-year high of $84.96.
Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, November 13th. The insurance provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Progressive had a return on equity of 26.09% and a net margin of 8.69%. As a group, sell-side analysts forecast that Progressive will post 5.32 EPS for the current year.
Several analysts recently weighed in on the company. Wells Fargo & Co reissued a “hold” rating and set a $76.00 price target on shares of Progressive in a report on Thursday, November 7th. Raymond James set a $93.00 price objective on Progressive and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays set a $90.00 price objective on Progressive and gave the company a “buy” rating in a report on Friday, September 13th. Goldman Sachs Group cut Progressive from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, ValuEngine cut Progressive from a “hold” rating to a “sell” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $82.00.
In other news, insider Steven Broz sold 5,000 shares of Progressive stock in a transaction on Friday, October 18th. The stock was sold at an average price of $70.84, for a total value of $354,200.00. Following the transaction, the insider now owns 25,295 shares in the company, valued at approximately $1,791,897.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Susan Patricia Griffith sold 22,614 shares of Progressive stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $71.99, for a total value of $1,627,981.86. Following the completion of the transaction, the chief executive officer now owns 376,308 shares in the company, valued at approximately $27,090,412.92. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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