Insider Selling: The Progressive Corporation (NYSE:PGR) Director Sells 3,681 Shares of Stock

The Progressive Corporation (NYSE:PGR - Get Free Report) Director Stuart B. Burgdoerfer sold 3,681 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.43, for a total transaction of $958,642.83. Following the sale, the director now directly owns 12,217 shares of the company's stock, valued at approximately $3,181,673.31. The trade was a 23.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Progressive Trading Up 1.0%

Progressive stock traded up $2.58 during trading hours on Monday, reaching $264.59. 637,360 shares of the company's stock traded hands, compared to its average volume of 2,703,137. The firm has a market capitalization of $155.11 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.62 and a beta of 0.40. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a fifty-two week low of $204.88 and a fifty-two week high of $292.99. The firm's 50 day moving average is $275.34 and its 200-day moving average is $264.49.

Progressive (NYSE:PGR - Get Free Report) last posted 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. Progressive had a net margin of 11.10% and a return on equity of 33.50%. The business had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. On average, analysts predict that The Progressive Corporation will post 14.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Roth Mkm boosted their price objective on Progressive from $290.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Jefferies Financial Group decreased their target price on Progressive from $327.00 to $319.00 and set a "buy" rating on the stock in a report on Friday, April 11th. UBS Group lifted their price target on Progressive from $285.00 to $291.00 and gave the company a "neutral" rating in a report on Wednesday, May 28th. Finally, Barclays increased their price objective on shares of Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $288.88.

Institutional Trading of Progressive

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Advisors Network LLC grew its holdings in Progressive by 1.0% during the first quarter. Integrated Advisors Network LLC now owns 3,808 shares of the insurance provider's stock valued at $1,078,000 after purchasing an additional 36 shares during the period. Rise Advisors LLC boosted its position in shares of Progressive by 7.4% during the first quarter. Rise Advisors LLC now owns 521 shares of the insurance provider's stock worth $147,000 after purchasing an additional 36 shares in the last quarter. Pines Wealth Management LLC boosted its position in shares of Progressive by 3.0% during the first quarter. Pines Wealth Management LLC now owns 1,287 shares of the insurance provider's stock worth $335,000 after purchasing an additional 37 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Progressive by 2.0% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,940 shares of the insurance provider's stock valued at $549,000 after buying an additional 38 shares during the period. Finally, Beacon Financial Group increased its position in shares of Progressive by 1.1% in the 1st quarter. Beacon Financial Group now owns 3,659 shares of the insurance provider's stock valued at $1,036,000 after buying an additional 39 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

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.

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