Progressive (NYSE:PGR) Insider Sells $150,201.75 in Stock

The Progressive Corporation (NYSE:PGR) insider Maribel Pumarejo sold 739 shares of Progressive stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Progressive Price Performance

Shares of PGR opened at $213.11 on Friday. The Progressive Corporation has a fifty-two week low of $197.92 and a fifty-two week high of $292.99. The firm’s 50-day simple moving average is $210.55 and its two-hundred day simple moving average is $225.40. The stock has a market cap of $124.97 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 9.25 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is 2.08%.

Wall Street Analyst Weigh In

Several research firms have commented on PGR. Mizuho set a $240.00 target price on Progressive in a report on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price target on shares of Progressive in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Progressive from $225.00 to $232.00 and gave the company a “market perform” rating in a research report on Thursday, February 19th. Jefferies Financial Group set a $216.00 price objective on shares of Progressive in a research note on Wednesday, February 11th. Finally, Citigroup decreased their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $244.71.

Hedge Funds Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Davis Capital Management purchased a new position in shares of Progressive during the third quarter valued at approximately $25,000. Bard Associates Inc. bought a new stake in Progressive in the 4th quarter worth approximately $27,000. Dagco Inc. bought a new stake in Progressive in the 4th quarter worth approximately $28,000. Atlantic Union Bankshares Corp purchased a new stake in Progressive during the 2nd quarter valued at $33,000. Finally, Howard Hughes Medical Institute bought a new position in shares of Progressive during the 2nd quarter valued at $34,000. Institutional investors own 85.34% of the company’s stock.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.