Jonathan S. Bauer Sells 1,227 Shares of The Progressive Co. (NYSE:PGR) Stock

The Progressive Co. (NYSE:PGR) CIO Jonathan S. Bauer sold 1,227 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the completion of the transaction, the executive now owns 28,393 shares in the company, valued at approximately $7,978,433. This trade represents a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Progressive Price Performance

PGR stock opened at $277.33 on Wednesday. The business has a fifty day moving average of $255.77 and a two-hundred day moving average of $253.33. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The stock has a market cap of $162.57 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52-week low of $195.57 and a 52-week high of $287.49.

Progressive (NYSE:PGR) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is 2.78%.

Institutional Investors Weigh In On Progressive

Institutional investors have recently modified their holdings of the company. Webster Bank N. A. acquired a new stake in shares of Progressive in the fourth quarter valued at $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Progressive in the fourth quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive in the fourth quarter valued at $28,000. Finally, Valley National Advisers Inc. grew its stake in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Bank of America decreased their target price on Progressive from $333.00 to $318.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company raised their target price on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Morgan Stanley raised their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.59.

Progressive Company Profile

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.