The Progressive Co. (NYSE:PGR) CIO Jonathan S. Bauer Sells 1,696 Shares

The Progressive Co. (NYSE:PGR) CIO Jonathan S. Bauer sold 1,696 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $282.66, for a total transaction of $479,391.36. Following the completion of the transaction, the executive now owns 26,697 shares in the company, valued at approximately $7,546,174.02. This represents a 5.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Progressive Stock Performance

Shares of Progressive stock traded down $5.59 during trading on Tuesday, reaching $285.64. The company’s stock had a trading volume of 1,172,954 shares, compared to its average volume of 2,387,392. The business’s fifty day moving average price is $259.18 and its 200-day moving average price is $254.36. The Progressive Co. has a one year low of $201.34 and a one year high of $294.22. The firm has a market cap of $167.44 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays raised their price target on Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 13th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Finally, StockNews.com lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $281.76.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Webster Bank N. A. bought a new position in Progressive during the fourth quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in shares of Progressive during the fourth quarter valued at approximately $28,000. Atlantic Edge Private Wealth Management LLC raised 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 purchasing an additional 41 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in Progressive in the fourth quarter worth $28,000. Finally, Valley National Advisers Inc. boosted its stake in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

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.