Progressive Co. (NYSE:PGR) CFO John P. Sauerland sold 12,000 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $60.52, for a total value of $726,240.00. Following the sale, the chief financial officer now owns 376,423 shares in the company, valued at approximately $22,781,119.96. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Progressive opened at $61.99 on Wednesday, MarketBeat Ratings reports. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.08 and a beta of 0.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.44 and a current ratio of 0.44. Progressive Co. has a 52-week low of $41.37 and a 52-week high of $62.99.
Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, May 2nd. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Progressive had a return on equity of 18.90% and a net margin of 6.75%. equities research analysts anticipate that Progressive Co. will post 4.05 earnings per share for the current year.
Several brokerages recently commented on PGR. MKM Partners upped their target price on Progressive to $75.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank upped their target price on Progressive from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Monday. ValuEngine lowered Progressive from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th. Buckingham Research upped their target price on Progressive from $48.00 to $52.00 and gave the company an “underperform” rating in a research report on Thursday, May 17th. Finally, Keefe, Bruyette & Woods lowered Progressive from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Thursday, May 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Progressive currently has a consensus rating of “Hold” and an average price target of $55.06.
A number of large investors have recently made changes to their positions in PGR. Exane Derivatives purchased a new stake in shares of Progressive in the fourth quarter worth approximately $104,000. Signaturefd LLC purchased a new stake in shares of Progressive in the first quarter worth approximately $122,000. We Are One Seven LLC purchased a new stake in shares of Progressive in the fourth quarter worth approximately $119,000. First Personal Financial Services raised its stake in shares of Progressive by 101.8% in the fourth quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock worth $124,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Progressive in the first quarter worth approximately $208,000. Institutional investors and hedge funds own 79.89% of the company’s stock.
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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