The Progressive Co. (NYSE:PGR) CFO John P. Sauerland Sells 1,542 Shares of Stock

The Progressive Co. (NYSE:PGR) CFO John P. Sauerland sold 1,542 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $435,861.72. Following the completion of the sale, the chief financial officer now owns 268,024 shares of the company’s stock, valued at $75,759,663.84. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Progressive Price Performance

Shares of PGR stock opened at $282.64 on Wednesday. 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 Progressive Co. has a 12 month low of $201.34 and a 12 month high of $292.99. The firm has a market cap of $165.68 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.70 and a beta of 0.35. The stock has a 50-day moving average price of $259.99 and a 200 day moving average price of $254.57.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share 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%. Research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive’s dividend payout ratio is currently 2.78%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group raised their target price on Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, March 14th. Wells Fargo & Company raised their price objective on shares of Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods cut their price target on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $281.76.

Institutional Investors Weigh In On Progressive

Institutional investors have recently made changes to their positions in the stock. Kesler Norman & Wride LLC boosted its holdings in Progressive by 1.1% during the fourth quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider’s stock worth $885,000 after buying an additional 40 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 41 shares during the last quarter. LRI Investments LLC grew its holdings in Progressive by 16.5% during the third quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 42 shares during the period. Washington Trust Bank increased its stake in Progressive by 4.1% in the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. Finally, SYM FINANCIAL Corp raised its holdings in Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after purchasing an additional 44 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

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.