Key Points
- Progressive insider Steven Broz sold 1,225 shares at an average price of $223.32, generating $273,567. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 4.08% to 28,807 shares.
- Progressive shares opened at $229.24, with a market capitalization of approximately $133.27 billion and a 12-month trading range of $189.20 to $239.38.
- Analyst sentiment remains mixed, with a consensus rating of “Hold” from 23 analysts and an average price target of $234.45. Institutional investors own approximately 85.34% of the company, while its quarterly dividend is $0.10 per share.
The Progressive Corporation (NYSE:PGR - Get Free Report) insider Steven Broz sold 1,225 shares of Progressive stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $223.32, for a total transaction of $273,567.00. Following the completion of the transaction, the insider owned 28,807 shares in the company, valued at approximately $6,433,179.24. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Steven Broz also recently made the following trade(s):
- On Thursday, September 24th, Steven Broz sold 1,225 shares of Progressive stock. The stock was sold at an average price of $204.29, for a total value of $250,255.25.
- On Thursday, August 20th, Steven Broz sold 1,225 shares of Progressive stock. The stock was sold at an average price of $219.40, for a total transaction of $268,765.00.
Progressive Trading Up 0.5%
NYSE PGR opened at $229.24 on Tuesday. The firm's 50 day moving average price is $215.98 and its two-hundred day moving average price is $208.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.31. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $239.38. The stock has a market cap of $133.27 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.74 and a beta of 0.25.
Progressive Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Thursday, October 1st were given a $0.10 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's dividend payout ratio is presently 2.01%.
Institutional Investors Weigh In On Progressive
Several institutional investors and hedge funds have recently modified their holdings of PGR. SYM FINANCIAL Corp raised its holdings in Progressive by 22.3% during the third quarter. SYM FINANCIAL Corp now owns 1,170 shares of the insurance provider's stock valued at $243,000 after buying an additional 213 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Progressive by 2.5% during the 3rd quarter. Center for Financial Planning Inc. now owns 3,250 shares of the insurance provider's stock worth $674,000 after acquiring an additional 79 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Progressive by 16.2% during the 3rd quarter. Park Avenue Securities LLC now owns 27,384 shares of the insurance provider's stock worth $5,677,000 after acquiring an additional 3,816 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Progressive by 76.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,888 shares of the insurance provider's stock valued at $391,000 after acquiring an additional 817 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Progressive by 1.2% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 118,232 shares of the insurance provider's stock valued at $24,511,000 after acquiring an additional 1,444 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.
Analyst Upgrades and Downgrades
PGR has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of Progressive from $233.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Evercore set a $240.00 price objective on Progressive in a research report on Friday, July 10th. Barclays lifted their price objective on Progressive from $246.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Raymond James Financial restated an "outperform" rating on shares of Progressive in a research note on Friday, October 16th. Finally, William Blair reaffirmed a "market perform" rating on shares of Progressive in a research report on Wednesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $234.45.
View Our Latest Report on PGR
About Progressive
(
Get Free Report)
Progressive Corporation is an insurance holding company headquartered in Mayfield Village, Ohio. Founded in 1937, the company provides insurance products primarily to consumers and businesses in the United States. Progressive distributes its products directly through its website, mobile channels and call centers, as well as through independent agents and brokers.
The company is best known for personal auto insurance, including coverage for cars, motorcycles, boats, recreational vehicles and other personal vehicles.
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