The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall Sells 191 Shares

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the transaction, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Progressive Stock Performance

Shares of NYSE PGR opened at $242.13 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50 day moving average price of $251.46 and a 200 day moving average price of $240.94. The stock has a market capitalization of $141.84 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. The Progressive Co. has a 52 week low of $162.35 and a 52 week high of $270.62.

Progressive (NYSE:PGR) last released its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, beating the consensus estimate of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. Analysts predict that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is 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%.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Progressive from $299.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, TD Cowen increased their target price on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $275.00.

Institutional Investors Weigh In On Progressive

Several hedge funds have recently bought and sold shares of the company. Davis Capital Management acquired a new stake in shares of Progressive in the third quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. raised its stake in Progressive by 114.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC acquired a new stake in Progressive during the 2nd quarter valued at $36,000. Sachetta LLC boosted its position in Progressive by 34.0% during the second quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 53 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Progressive in the third quarter valued at $49,000. 85.34% of the stock is currently 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.