Progressive (NYSE:PGR) CAO Carl Joyce Sells 270 Shares

The Progressive Corporation (NYSE:PGR) CAO Carl Joyce sold 270 shares of Progressive stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Progressive Stock Down 0.1%

Shares of PGR traded down $0.14 during trading hours on Monday, hitting $205.86. The company had a trading volume of 1,656,341 shares, compared to its average volume of 3,540,563. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $120.61 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 6.49 and a beta of 0.33. The Progressive Corporation has a one year low of $197.92 and a one year high of $289.96. The company’s fifty day moving average price is $206.07 and its two-hundred day moving average price is $220.80.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio is presently 2.08%.

Institutional Trading of Progressive

Institutional investors have recently bought and sold shares of the stock. Stance Capital LLC increased its stake in Progressive by 11.9% during the 4th quarter. Stance Capital LLC now owns 6,057 shares of the insurance provider’s stock valued at $1,379,000 after purchasing an additional 645 shares in the last quarter. World Investment Advisors lifted its stake in shares of Progressive by 11.6% during the fourth quarter. World Investment Advisors now owns 10,609 shares of the insurance provider’s stock worth $2,416,000 after buying an additional 1,103 shares during the period. Demming Financial Services Corp ADV acquired a new stake in shares of Progressive during the fourth quarter worth $598,000. Meadowbrook Advisors Group LLC purchased a new stake in shares of Progressive during the fourth quarter valued at $2,403,000. Finally, Larry Mathis Financial Planning LLC acquired a new position in shares of Progressive in the 4th quarter valued at $500,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PGR has been the topic of a number of analyst reports. Barclays set a $247.00 price objective on shares of Progressive in a research report on Wednesday. Morgan Stanley decreased their target price on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a research report on Wednesday, January 28th. BMO Capital Markets lowered their target price on shares of Progressive from $232.00 to $208.00 and set a “market perform” rating for the company in a research note on Wednesday, March 11th. HSBC lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods decreased their price objective on Progressive from $232.00 to $227.00 and set a “market perform” rating for the company in a report on Thursday. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $239.83.

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.