The Progressive Corporation (NYSE:PGR) Insider Sells $329,901.46 in Stock

The Progressive Corporation (NYSE:PGR) insider Steven Broz sold 1,267 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $260.38, for a total transaction of $329,901.46. Following the transaction, the insider now owns 27,621 shares in the company, valued at approximately $7,191,955.98. This trade represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, May 23rd, Steven Broz sold 1,267 shares of Progressive stock. The shares were sold at an average price of $277.81, for a total transaction of $351,985.27.

Progressive Price Performance

PGR stock traded up $3.93 during midday trading on Monday, reaching $265.94. 1,332,785 shares of the company’s stock traded hands, compared to its average volume of 2,705,922. The company has a 50-day simple moving average of $275.34 and a two-hundred day simple moving average of $264.49. The Progressive Corporation has a 1-year low of $204.88 and a 1-year high of $292.99. The company has a market cap of $155.90 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.62 and a beta of 0.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. On average, analysts anticipate that The Progressive Corporation will post 14.68 earnings per share for the current year.

Institutional Trading of Progressive

Several large investors have recently made changes to their positions in PGR. Brighton Jones LLC raised its holdings in Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Progressive in the fourth quarter worth approximately $269,000. Highview Capital Management LLC DE raised its position in shares of Progressive by 3.2% during the 4th quarter. Highview Capital Management LLC DE now owns 11,040 shares of the insurance provider’s stock valued at $2,645,000 after purchasing an additional 339 shares during the period. Global Retirement Partners LLC grew its stake in shares of Progressive by 3.4% in the 4th quarter. Global Retirement Partners LLC now owns 3,175 shares of the insurance provider’s stock worth $761,000 after buying an additional 105 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in Progressive by 10.0% during the 4th quarter. Concurrent Investment Advisors LLC now owns 6,076 shares of the insurance provider’s stock valued at $1,456,000 after buying an additional 551 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of Progressive from $328.00 to $333.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group reduced their price target on shares of Progressive from $327.00 to $319.00 and set a “buy” rating for the company in a research note on Friday, April 11th. BMO Capital Markets boosted their target price on shares of Progressive from $282.00 to $288.00 and gave the company an “outperform” rating in a research report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $288.00 price target on shares of Progressive in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and an average price target of $288.88.

Progressive Company Profile

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.