Key Points
- Insider sale: Progressive CIO Andrew J. Quigg sold 1,649 shares on Jan 21 at an average of $204.35 for a total of $336,973.15, reducing his stake by about 4% to 39,626 shares (≈$8.10M).
- Stock and payout snapshot: PGR opened near $206.94 with a 52‑week range of $198.50–$292.99, a market cap of $121.35B and a quarterly dividend of $0.10 ($0.40 annual, ~0.2% yield).
- Analyst and market context: Wall Street’s consensus is a “Hold” with an average price target of $259.39 amid mixed ratings, an upcoming earnings report as a near‑term catalyst, and competitive pressure highlighted from Lemonade’s Tesla partnership plus recent insider sales.
The Progressive Corporation (NYSE:PGR - Get Free Report) insider Andrew Quigg sold 1,649 shares of the firm's stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the transaction, the insider directly owned 39,626 shares in the company, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Progressive Stock Up 1.9%
Shares of NYSE PGR opened at $206.94 on Friday. The Progressive Corporation has a 52-week low of $198.50 and a 52-week high of $292.99. The firm has a market capitalization of $121.35 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.24 and a beta of 0.34. The stock has a 50 day moving average price of $221.60 and a 200 day moving average price of $232.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29.
Progressive Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive's dividend payout ratio is presently 2.19%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PGR. Morgan Stanley reiterated an "underweight" rating on shares of Progressive in a report on Wednesday, December 17th. Hsbc Global Res cut shares of Progressive from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 16th. UBS Group cut their price objective on shares of Progressive from $268.00 to $261.00 and set a "neutral" rating on the stock in a report on Wednesday, October 8th. Mizuho set a $240.00 price objective on shares of Progressive in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company dropped their target price on Progressive from $242.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 13th. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $259.39.
Check Out Our Latest Analysis on PGR
More Progressive News
Here are the key news stories impacting Progressive this week:
Institutional Trading of Progressive
Hedge funds and other institutional investors have recently made changes to their positions in the business. Davis Capital Management purchased a new position in Progressive during the 3rd quarter worth $25,000. Dagco Inc. acquired a new stake in Progressive in the fourth quarter worth about $28,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Progressive during the second quarter worth about $33,000. Howard Hughes Medical Institute acquired a new position in shares of Progressive during the second quarter valued at about $34,000. Finally, Ameriflex Group Inc. raised its position in shares of Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.
About Progressive
(
Get Free Report)
Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.
The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
