Mariann Wojtkun Marshall Sells 191 Shares of The Progressive Co. (NYSE:PGR) Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now owns 3,982 shares in the company, valued at $964,042.20. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Progressive Price Performance

NYSE:PGR opened at $243.45 on Thursday. The Progressive Co. has a 52 week low of $164.16 and a 52 week high of $270.62. 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 firm’s 50-day simple moving average is $251.47 and its 200 day simple moving average is $240.95. The firm has a market cap of $142.62 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.70 and a beta of 0.41.

Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. As a group, sell-side analysts predict that The Progressive Co. will post 13.2 earnings per share for the current year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Davis Capital Management bought a new position in Progressive in the 3rd quarter valued at about $25,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new position in Progressive in the second quarter valued at approximately $36,000. Sachetta LLC raised its position in Progressive by 34.0% during the second quarter. Sachetta LLC now owns 209 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 53 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Progressive during the third quarter worth $49,000. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the topic of several analyst reports. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Progressive in a research report on Friday, December 13th. TD Cowen boosted their price objective on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America lifted their target price on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $275.00.

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.