Key Points
- Insider Maribel Pumarejo sold 739 shares on Feb. 24 at $203.25 for a total of $150,201.75, disclosed in an SEC Form 4 filing.
- Progressive shares traded up about 2.2% to $208.95 with volume below average; the stock’s one‑year range is $197.92–$292.99 and it has a market cap of roughly $122.5 billion and a P/E of 10.86.
- Analysts are largely cautious with a consensus "Hold" rating and an average price target of $244.71, while several firms (UBS, Wells Fargo, Morgan Stanley) have recently cut their targets.
The Progressive Corporation (NYSE:PGR - Get Free Report) insider Maribel Pumarejo sold 739 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Progressive Stock Up 2.2%
Progressive stock traded up $4.41 during mid-day trading on Thursday, reaching $208.95. The stock had a trading volume of 774,163 shares, compared to its average volume of 3,635,636. The Progressive Corporation has a one year low of $197.92 and a one year high of $292.99. The company has a 50-day moving average price of $211.04 and a two-hundred day moving average price of $225.72. The company has a market capitalization of $122.53 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 8.99 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29.
Progressive Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive's dividend payout ratio is currently 2.08%.
Hedge Funds Weigh In On Progressive
A number of hedge funds have recently modified their holdings of PGR. Davis Capital Management purchased a new position in shares of Progressive during the 3rd quarter valued at $25,000. Bard Associates Inc. purchased a new position in shares of Progressive in the fourth quarter valued at about $27,000. Dagco Inc. bought a new position in shares of 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. Finally, Howard Hughes Medical Institute bought a new stake in Progressive during the 2nd quarter valued at approximately $34,000. 85.34% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on PGR. UBS Group cut their target price on Progressive from $226.00 to $218.00 and set a "neutral" rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price objective on Progressive from $220.00 to $214.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 19th. Morgan Stanley decreased their target price on Progressive from $214.00 to $205.00 and set an "underweight" rating for the company in a research report on Wednesday, January 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Progressive in a research note on Monday, December 29th. Finally, Evercore set a $230.00 price target on shares of Progressive in a research note on Thursday, February 19th. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $244.71.
Check Out Our Latest Stock Analysis on PGR
Progressive Company Profile
(
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.
Further Reading
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