Progressive Corp (NYSE:PGR) CFO John P. Sauerland sold 12,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $77.58, for a total transaction of $930,960.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of NYSE:PGR traded up $0.42 during mid-day trading on Monday, reaching $77.91. The stock had a trading volume of 1,588,700 shares, compared to its average volume of 2,971,231. The firm has a market cap of $45.04 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.66. The firm has a 50 day simple moving average of $81.00 and a two-hundred day simple moving average of $76.49. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. Progressive Corp has a twelve month low of $56.71 and a twelve month high of $84.96.
Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, July 17th. The insurance provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.13 billion. Progressive had a net margin of 9.19% and a return on equity of 28.12%. Progressive’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, equities analysts anticipate that Progressive Corp will post 5.37 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Griffin Asset Management Inc. bought a new position in shares of Progressive during the 2nd quarter worth approximately $108,000. Prudential PLC grew its stake in shares of Progressive by 104.1% in the second quarter. Prudential PLC now owns 6,793 shares of the insurance provider’s stock valued at $543,000 after buying an additional 3,464 shares in the last quarter. UBS Group AG grew its stake in shares of Progressive by 9.3% in the second quarter. UBS Group AG now owns 1,220,125 shares of the insurance provider’s stock valued at $97,525,000 after buying an additional 103,662 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Progressive by 2.8% in the second quarter. Verition Fund Management LLC now owns 22,566 shares of the insurance provider’s stock valued at $1,804,000 after buying an additional 605 shares in the last quarter. Finally, HM Payson & Co. bought a new position in shares of Progressive in the second quarter valued at $64,000. Institutional investors and hedge funds own 78.56% of the company’s stock.
A number of research analysts have issued reports on PGR shares. UBS Group upped their target price on shares of Progressive from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Raymond James upped their target price on shares of Progressive from $90.00 to $93.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Janney Montgomery Scott started coverage on shares of Progressive in a research report on Thursday, June 20th. They set a “neutral” rating and a $59.00 target price on the stock. Wells Fargo & Co restated a “hold” rating and set a $81.00 target price on shares of Progressive in a research report on Thursday. Finally, Zacks Investment Research downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Monday, May 27th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Progressive presently has a consensus rating of “Buy” and a consensus price target of $82.92.
Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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