Key Points
- CFO John Sauerland sold 5,000 Progressive shares at an average price of $228.48 on Nov. 28 for a total of $1,142,400, reducing his stake by 2.19% to 223,024 shares (valued at ~$50.96M), according to the SEC filing.
- Progressive missed quarterly EPS expectations, reporting $4.45 vs. $5.04 expected, and its stock trades around $227.70 (52‑week range $199.90–$292.99); analysts' consensus rating is "Hold" with a $266.52 price target.
The Progressive Corporation (NYSE:PGR - Get Free Report) CFO John Sauerland sold 5,000 shares of the firm's stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the sale, the chief financial officer owned 223,024 shares of the company's stock, valued at $50,956,523.52. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Progressive Stock Down 0.5%
PGR stock opened at $227.70 on Tuesday. The Progressive Corporation has a fifty-two week low of $199.90 and a fifty-two week high of $292.99. The company has a market capitalization of $133.52 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.29. The business's 50 day moving average price is $227.04 and its two-hundred day moving average price is $245.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32.
Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing analysts' consensus estimates of $5.04 by ($0.59). Progressive had a net margin of 12.57% and a return on equity of 33.88%. The firm had revenue of $21.38 billion during the quarter, compared to analysts' expectations of $21.64 billion. During the same quarter in the previous year, the business earned $3.58 EPS. As a group, analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Progressive from $276.00 to $245.00 and set a "buy" rating on the stock in a report on Monday, October 27th. Wells Fargo & Company boosted their price objective on shares of Progressive from $246.00 to $247.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 20th. Zacks Research downgraded shares of Progressive from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 10th. HSBC set a $259.00 target price on shares of Progressive and gave the company an "underperform" rating in a report on Monday, November 17th. Finally, UBS Group cut their price target on Progressive from $268.00 to $261.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $266.52.
View Our Latest Stock Report on PGR
Institutional Investors Weigh In On Progressive
Several institutional investors and hedge funds have recently made changes to their positions in PGR. Brighton Jones LLC increased its holdings in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Progressive during the fourth quarter valued at $269,000. Bison Wealth LLC increased its holdings in Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock worth $615,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. raised its position in Progressive by 123.2% in the 1st quarter. Harbour Investments Inc. now owns 741 shares of the insurance provider's stock worth $210,000 after buying an additional 409 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Progressive by 5.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 319,062 shares of the insurance provider's stock valued at $90,298,000 after acquiring an additional 16,425 shares during the period. Institutional investors own 85.34% of the company's stock.
Progressive Company Profile
(
Get Free Report)
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.
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