The Progressive Co. (NYSE:PGR) insider Steven Broz sold 1,243 shares of The Progressive stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $95.90, for a total value of $119,203.70. Following the completion of the sale, the insider now directly owns 32,564 shares in the company, valued at approximately $3,122,887.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of PGR stock opened at $95.86 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $56.09 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 2.58 and a beta of 0.45. The stock has a 50 day simple moving average of $91.06 and a 200 day simple moving average of $92.98. The Progressive Co. has a 1 year low of $71.25 and a 1 year high of $102.05.
The Progressive (NYSE:PGR) last issued its quarterly earnings results on Monday, March 1st. The insurance provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.16. The Progressive had a return on equity of 28.89% and a net margin of 12.13%. Analysts forecast that The Progressive Co. will post 7.4 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in PGR. Childress Capital Advisors LLC acquired a new position in The Progressive during the fourth quarter valued at approximately $35,000. Tompkins Financial Corp acquired a new position in The Progressive during the fourth quarter valued at approximately $37,000. Diversified LLC acquired a new position in The Progressive during the fourth quarter valued at approximately $41,000. Capital Directions Investment Advisors LLC raised its position in The Progressive by 100.0% during the fourth quarter. Capital Directions Investment Advisors LLC now owns 422 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 211 shares in the last quarter. Finally, HM Payson & Co. raised its position in The Progressive by 74.0% during the third quarter. HM Payson & Co. now owns 583 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.
A number of analysts recently issued reports on the company. Raymond James reaffirmed a “buy” rating on shares of The Progressive in a research report on Monday, February 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on The Progressive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, February 1st. Wells Fargo & Company downgraded The Progressive from an “equal weight” rating to an “underweight” rating and set a $99.00 target price on the stock. in a research report on Monday, January 4th. Zacks Investment Research cut The Progressive from a “hold” rating to a “sell” rating and set a $92.00 price target for the company. in a report on Thursday, January 28th. Finally, Morgan Stanley reduced their price target on The Progressive from $91.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, March 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $96.69.
About The Progressive
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, 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.
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