The Progressive Co. (NYSE:PGR) Insider Steven Broz Sells 2,981 Shares

The Progressive Co. (NYSE:PGR) insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Steven Broz also recently made the following trade(s):

• On Monday, September 23rd, Steven Broz sold 2,982 shares of Progressive stock. The shares were sold at an average price of $260.00, for a total value of $775,320.00.
• On Monday, August 19th, Steven Broz sold 6,122 shares of Progressive stock. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18.

Progressive Trading Down 0.4 %

PGR opened at $247.25 on Thursday. The firm has a market cap of $144.81 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.69 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30. The Progressive Co. has a 12 month low of $149.14 and a 12 month high of $260.46. The stock has a fifty day moving average price of $250.14 and a 200-day moving average price of $224.95.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, October 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s payout ratio is 2.91%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in Progressive by 4,545.0% during the 1st quarter. SG Americas Securities LLC now owns 705,243 shares of the insurance provider’s stock valued at $145,858,000 after buying an additional 690,060 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Progressive by 548.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after buying an additional 686,433 shares in the last quarter. Capital International Investors increased its position in Progressive by 15.7% during the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after buying an additional 670,006 shares in the last quarter. International Assets Investment Management LLC increased its position in Progressive by 29,701.6% during the 3rd quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after buying an additional 594,330 shares in the last quarter. Finally, Swedbank AB acquired a new position in Progressive during the 1st quarter valued at about $116,852,000. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on Progressive from $280.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on Progressive from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets dropped their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Roth Mkm boosted their price objective on Progressive from $270.00 to $290.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Barclays upped their target price on Progressive from $267.00 to $277.00 and gave the stock an “equal weight” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $263.19.

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.