Progressive Corp (NYSE:PGR) CFO John P. Sauerland Sells 12,000 Shares

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.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, October 7th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. Progressive’s dividend payout ratio is 9.05%.

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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Insider Buying and Selling by Quarter for Progressive (NYSE:PGR)

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