Rep. Julie Johnson Purchases Shares of The Progressive Co. (NYSE:PGR)

Representative Julie Johnson (D-Texas) recently bought shares of The Progressive Co. (NYSE:PGR). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on February 14th. The trade occurred in the Representative’s “CHASE BROKERAGE ACCOUNT (3935)” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/14/2025.

Progressive Trading Up 1.6 %

Shares of PGR stock opened at $283.87 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The company has a market cap of $166.41 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 1-year low of $199.57 and a 1-year high of $287.49. The stock has a 50 day simple moving average of $258.14 and a 200-day simple moving average of $253.97.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. Progressive’s dividend payout ratio is presently 2.78%.

Wall Street Analyst Weigh In

PGR has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a report on Friday. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. Bank of America reduced their price target on shares of Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Finally, Morgan Stanley increased their price objective on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.76.

Hedge Funds Weigh In On Progressive

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kesler Norman & Wride LLC boosted its stake in shares of Progressive by 1.1% during the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider’s stock worth $885,000 after acquiring an additional 40 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in shares of Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. LRI Investments LLC raised its position in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares during the last quarter. Washington Trust Bank increased its position in Progressive by 4.1% during the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after buying an additional 42 shares in the last quarter. Finally, SYM FINANCIAL Corp raised its holdings in shares of Progressive by 2.8% in the fourth quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock worth $384,000 after acquiring an additional 44 shares during the last quarter. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Andrew J. Quigg sold 681 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now directly owns 33,612 shares of the company’s stock, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,257 shares of company stock worth $15,752,781 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.