The Progressive Co. (NYSE:PGR) Insider Andrew J. Quigg Sells 962 Shares

The Progressive Co. (NYSE:PGR) insider Andrew J. Quigg sold 962 shares of Progressive stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $234,044.98. Following the completion of the transaction, the insider now directly owns 34,787 shares in the company, valued at $8,463,329.23. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Progressive Trading Up 0.2 %

Shares of Progressive stock opened at $239.58 on Friday. The company has a 50-day moving average of $248.98 and a two-hundred day moving average of $243.14. The stock has a market cap of $140.35 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 12-month low of $175.50 and a 12-month high of $270.62.

Progressive Announces Dividend

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

Institutional Trading of Progressive

A number of institutional investors have recently bought and sold shares of the company. Raleigh Capital Management Inc. raised its stake in shares of Progressive by 20.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock worth $60,000 after buying an additional 41 shares during the last quarter. LRI Investments LLC increased its holdings in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 42 shares in the last quarter. Castleview Partners LLC raised its position in Progressive by 2.7% during the third quarter. Castleview Partners LLC now owns 1,712 shares of the insurance provider’s stock worth $434,000 after acquiring an additional 45 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Progressive by 4.6% in the third quarter. Washington Trust Bank now owns 1,024 shares of the insurance provider’s stock valued at $260,000 after purchasing an additional 45 shares in the last quarter. Finally, Kelleher Financial Advisors grew its position in shares of Progressive by 4.7% in the fourth quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 45 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on PGR shares. HSBC lowered shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their price objective on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Evercore ISI lifted their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group upped their price target on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays lowered their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.65.

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.