Progressive Co. (NYSE:PGR – Get Rating) insider John Jo Murphy sold 5,270 shares of the company in a trade that took place on Monday, October 17. The stock was sold at an average price of $120.00, for a total value of $632,400.00. Following the completion of the sale, the insider now owns 29,190 shares of the company, valued at $3,502,800. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink.

Progressive stock performance

Shares of PGR rose $0.67 on Tuesday, hitting $120.26. 2,557,189 shares of shares traded in hands, compared to its average volume of 2,798,893. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 84.89, a P/ E/G of 1.34 and a beta of 0.44. The company has a debt ratio of 0.43, a current ratio of 0.44 and a quick ratio of 0.40. The Progressive Co. has a 12-month low of $89.66 and a 12-month high of $129.76. The stock’s 50-day moving average price is $123.35 and its 200-day moving average price is $117.30.

Progressive (NYSE:PGR – Get Rating) last released quarterly earnings data on Friday, July 15. The insurance provider reported earnings per share (EPS) of $0.95 for the quarter, meeting analyst consensus estimates of $0.95. The company posted revenue of $12.70 billion for the quarter, versus $12.87 billion expected by analysts. Progressive had a return on equity of 13.40% and a net margin of 1.76%. Equity analysts expect The Progressive Co. to post EPS of 4.6 for the current fiscal year.

Progressive dividend announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14. Shareholders of record on Friday, October 7 received a dividend of $0.10 per share. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Thursday, October 6. Progressive’s dividend payout ratio is currently 28.37%.

A Wall Street analyst gives his opinion

Several equity research analysts have recently weighed in on PGR shares. Jefferies Financial Group upgraded Progressive from a “hold” rating to a “buy” rating and raised its target price for the stock from $123.00 to $142.00 in a Friday, Oct. 7 report. Keefe, Bruyette & Woods upgraded Progressive from an “underperforming” rating to a “market performing” rating and raised their target price for the stock from $96.00 to $107.00 in a report for Thursday 23 June. Evercore ISI set a target price of $129.00 on Progressive in a Tuesday, July 19 report. downgraded Progressive from a “buy” rating to a “hold” rating in a report released on Friday. Finally, Raymond James raised his price target on Progressive from $135.00 to $140.00 and gave the stock an “outperform” rating in a Monday, August 29 report. Four analysts gave the stock a sell rating, seven gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $119.23.

Institutional Progressive Trading

Institutional investors and hedge funds have recently changed their holdings in the company. Oak Thistle LLC purchased a new stake in Progressive in the first quarter worth $239,000. First Republic Investment Management Inc. increased its position in Progressive by 9.6% in the first quarter. First Republic Investment Management Inc. now owns 630,991 shares of the insurance provider valued at $71,927,000 after acquiring an additional 55,106 shares during the period. CAPROCK Group Inc. increased its stake in Progressive by 9.6% in the first quarter. CAPROCK Group Inc. now owns 5,950 shares of the insurance provider worth $678,000 after purchasing an additional 522 shares in the last quarter. Offit Capital Advisors LLC acquired a new position in Progressive in the first quarter worth $418,000. Finally, Ellevest Inc. increased its stake in Progressive by 244.0% in the second quarter. Ellevest Inc. now owns 891 shares of the insurance provider worth $104,000 after buying an additional 632 shares in the last quarter. 85.05% of the shares are currently held by institutional investors.

Progressive Company Profile

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The Progressive Corporation, an insurance holding company, provides personal and commercial automobile, residential and commercial property, general liability and other specialty property and casualty insurance products and services in the United States. related. It operates in three segments: personal lines, business lines and property.

Further reading

Insider buying and selling by quarter for Progressive (NYSE:PGR)

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