The Progressive Co. (NYSE:PGR) CAO Sells $142,324.65 in Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total value of $142,324.65. Following the completion of the sale, the chief accounting officer now directly owns 3,983 shares of the company’s stock, valued at approximately $969,024.07. The trade was a 12.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10.

Progressive Stock Down 0.4 %

PGR opened at $238.58 on Friday. The Progressive Co. has a fifty-two week low of $175.50 and a fifty-two week high of $270.62. The company has a market capitalization of $139.76 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s fifty day moving average price is $248.27 and its two-hundred day moving average price is $243.31.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. Progressive’s payout ratio is currently 2.91%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its stake in shares of Progressive by 98.2% in the 4th quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 391 shares during the period. Townsquare Capital LLC grew its position in Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after acquiring an additional 3,720 shares during the period. Diversified Trust Co raised its stake in Progressive by 84.3% during the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock worth $6,531,000 after acquiring an additional 11,770 shares in the last quarter. Sycomore Asset Management lifted its holdings in shares of Progressive by 9.5% during the second quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Progressive by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PGR. Wells Fargo & Company lifted their price objective on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets reduced their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Evercore ISI upped their price target on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley decreased their target price on Progressive from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $274.65.

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.