The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall Sells 585 Shares

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $142,324.65. Following the transaction, the chief accounting officer now directly owns 3,983 shares of the company’s stock, valued at approximately $969,024.07. This represents a 12.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The stock was sold at an average price of $242.10, for a total value of $46,241.10.

Progressive Stock Up 0.2 %

Shares of Progressive stock opened at $239.58 on Friday. The company has a market cap of $140.35 billion, a P/E ratio of 17.41, a PEG ratio of 0.62 and a beta of 0.41. The firm has a fifty day moving average of $248.98 and a two-hundred day moving average of $243.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Progressive Co. has a one year low of $175.50 and a one year 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 given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. Progressive’s payout ratio is currently 2.91%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Jefferies Financial Group boosted their price target on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised their price objective on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods cut their price target on Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

Institutional Investors Weigh In On Progressive

A number of institutional investors have recently added to or reduced their stakes in the business. Davis Capital Management acquired a new stake in shares of Progressive in the 3rd quarter valued at approximately $25,000. Webster Bank N. A. purchased a new position in Progressive in the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. lifted its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 73 shares during the period. Kimelman & Baird LLC acquired a new stake in Progressive in the second quarter valued at $36,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Progressive during the 3rd quarter worth $49,000. Hedge funds and other 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.