The Progressive Co. (NYSE:PGR) Insider Steven Broz Sells 2,981 Shares

The Progressive Co. (NYSE:PGR) insider Steven Broz sold 2,981 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the transaction, the insider now owns 26,353 shares in the company, valued at $6,618,555.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Steven Broz also recently made the following trade(s):

• On Monday, September 23rd, Steven Broz sold 2,982 shares of Progressive stock. The stock was sold at an average price of $260.00, for a total transaction of $775,320.00.
• On Monday, August 19th, Steven Broz sold 6,122 shares of Progressive stock. The shares were sold at an average price of $235.19, for a total transaction of $1,439,833.18.

Progressive Price Performance

PGR stock opened at $246.87 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $250.14 and its two-hundred day moving average price is $224.95. The stock has a market capitalization of $144.58 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.68 and a beta of 0.35. The Progressive Co. has a 12-month low of $149.14 and a 12-month high of $260.46.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s payout ratio is currently 2.91%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PGR shares. Piper Sandler raised their price objective on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Progressive from $242.00 to $251.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Roth Mkm increased their price target on shares of Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $263.19.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Orrstown Financial Services Inc. lifted its holdings in Progressive by 31.3% in the third quarter. Orrstown Financial Services Inc. now owns 2,186 shares of the insurance provider’s stock worth $555,000 after buying an additional 521 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Progressive by 13.9% during the third quarter. Nisa Investment Advisors LLC now owns 192,344 shares of the insurance provider’s stock valued at $48,809,000 after purchasing an additional 23,421 shares in the last quarter. TCI Wealth Advisors Inc. purchased a new stake in Progressive in the third quarter worth $201,000. Asahi Life Asset Management CO. LTD. raised its holdings in Progressive by 101.2% in the third quarter. Asahi Life Asset Management CO. LTD. now owns 2,535 shares of the insurance provider’s stock worth $643,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Cavalier Investments LLC lifted its position in Progressive by 6.7% during the third quarter. Cavalier Investments LLC now owns 16,570 shares of the insurance provider’s stock valued at $4,205,000 after buying an additional 1,035 shares during the period. 85.34% of the stock is currently owned by institutional investors.

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.