Insider Selling: The Progressive Co. (NYSE:PGR) CAO Sells 585 Shares of Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $142,324.65. Following the completion of the sale, the chief accounting officer now directly owns 3,983 shares in the company, valued at approximately $969,024.07. The trade was a 12.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10.

Progressive Stock Performance

PGR stock opened at $238.58 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a twelve month low of $175.50 and a twelve month high of $270.62. The business’s fifty day moving average is $248.62 and its 200-day moving average is $243.11. The company has a market cap of $139.76 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Institutional Trading of Progressive

Institutional investors and hedge funds have recently modified their holdings of the stock. Evergreen Capital Management LLC grew its holdings in Progressive by 8.4% during the second quarter. Evergreen Capital Management LLC now owns 4,988 shares of the insurance provider’s stock valued at $1,036,000 after purchasing an additional 385 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Progressive by 60.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 112,179 shares of the insurance provider’s stock valued at $23,301,000 after buying an additional 42,094 shares during the period. Insigneo Advisory Services LLC increased its position in shares of Progressive by 22.5% in the 2nd quarter. Insigneo Advisory Services LLC now owns 6,636 shares of the insurance provider’s stock valued at $1,400,000 after buying an additional 1,218 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in Progressive by 75.3% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 547,512 shares of the insurance provider’s stock worth $113,724,000 after buying an additional 235,269 shares during the period. Finally, Point72 Europe London LLP bought a new position in Progressive during the second quarter worth about $6,481,000. 85.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lowered their target price on Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. BMO Capital Markets reduced their price target on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Barclays lowered their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $274.65.

About Progressive

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.