The Progressive Co. (NYSE:PGR) CEO Sells $2,681,299.09 in Stock

The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith sold 11,021 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 transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Susan Patricia Griffith also recently made the following trade(s):

• On Friday, January 3rd, Susan Patricia Griffith sold 9,066 shares of Progressive stock. The shares were sold at an average price of $242.10, for a total value of $2,194,878.60.

Progressive Trading Up 0.2 %

PGR stock traded up $0.41 during trading on Thursday, hitting $239.58. 2,554,398 shares of the company traded hands, compared to its average volume of 2,671,414. The firm has a market capitalization of $140.35 billion, a PE ratio of 17.41, a P/E/G ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 1 year low of $175.50 and a 1 year high of $270.62. The company has a 50-day moving average of $248.98 and a 200-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.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given 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 dividend yield of 0.17%. Progressive’s dividend payout ratio is presently 2.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGR. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Bank of America upped their price target on Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research report on Thursday, December 26th. Barclays reduced their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Progressive currently has an average rating of “Moderate Buy” and a consensus price target of $274.65.

Institutional Investors Weigh In On Progressive

Several hedge funds have recently made changes to their positions in the company. Davis Capital Management purchased a new position in Progressive during the third quarter valued at $25,000. Webster Bank N. A. purchased a new position in Progressive during the fourth quarter valued at $26,000. DiNuzzo Private Wealth Inc. raised its stake in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after buying an additional 73 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Progressive during the second quarter valued at $36,000. Finally, Friedenthal Financial purchased a new position in Progressive during the third quarter valued at $49,000. 85.34% of the stock is currently owned by institutional investors.

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.