Jonathan S. Bauer Sells 1,227 Shares of The Progressive Co. (NYSE:PGR) Stock

The Progressive Co. (NYSE:PGR) CIO Jonathan S. Bauer sold 1,227 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $281.00, for a total value of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares of the company’s stock, valued at $7,978,433. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Progressive Price Performance

Shares of NYSE PGR opened at $277.52 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $162.69 billion, a PE ratio of 19.27, a PEG ratio of 1.70 and a beta of 0.35. The stock’s 50 day moving average price is $256.53 and its 200-day moving average price is $253.50. The Progressive Co. has a twelve month low of $197.77 and a twelve month high of $287.49.

Progressive (NYSE:PGR) last posted 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 net margin of 11.25% and a return on equity of 33.79%. On average, equities analysts anticipate that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 dividend on an annualized basis and a yield of 0.14%. Progressive’s payout ratio is 2.78%.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of research analyst reports. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price target on Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.59.

Institutional Investors Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares during the period. Townsquare Capital LLC increased its holdings in shares of Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after purchasing an additional 3,720 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Progressive by 7.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Progressive by 2,262.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 433,999 shares of the insurance provider’s stock worth $103,990,000 after purchasing an additional 415,628 shares during the period. Finally, Signal Advisors Wealth LLC increased its holdings in shares of Progressive by 42.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 11,889 shares of the insurance provider’s stock worth $2,849,000 after purchasing an additional 3,534 shares during the period. Institutional investors own 85.34% of the company’s stock.

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.