Progressive (NYSE:PGR) PT Raised to $225.00

Progressive (NYSE:PGR - Free Report) had its price target upped by Citigroup from $202.00 to $225.00 in a research note issued to investors on Monday, Benzinga reports. Citigroup currently has a neutral rating on the insurance provider's stock.

Other analysts have also issued research reports about the company. UBS Group lifted their price objective on Progressive from $159.00 to $170.00 and gave the stock a neutral rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their price objective on Progressive from $171.00 to $202.00 and gave the stock an overweight rating in a report on Monday, April 8th. HSBC lifted their price objective on Progressive from $174.00 to $200.00 and gave the stock a hold rating in a report on Thursday, March 28th. Piper Sandler reaffirmed an overweight rating and issued a $240.00 price objective on shares of Progressive in a report on Monday, April 1st. Finally, The Goldman Sachs Group lifted their target price on Progressive from $161.00 to $216.00 and gave the company a neutral rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of Hold and an average price target of $208.31.

Progressive Stock Up 1.3 %

Shares of PGR traded up $2.69 on Monday, reaching $206.59. The stock had a trading volume of 3,841,681 shares, compared to its average volume of 2,586,974. Progressive has a 12-month low of $111.41 and a 12-month high of $212.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36. The firm has a market capitalization of $121.00 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 0.86 and a beta of 0.35. The company has a 50-day simple moving average of $197.15 and a 200-day simple moving average of $173.13.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping analysts' consensus estimates of $3.20 by $0.74. The business had revenue of $18.96 billion during the quarter, compared to analyst estimates of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The company's quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts predict that Progressive will post 10.5 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, April 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Progressive's dividend payout ratio is currently 4.09%.

Insiders Place Their Bets

In other Progressive news, insider Andrew J. Quigg sold 551 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total transaction of $93,251.24. Following the sale, the insider now directly owns 27,921 shares of the company's stock, valued at $4,725,350.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Progressive news, CEO Susan Patricia Griffith sold 5,939 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total transaction of $1,005,116.36. Following the sale, the chief executive officer now directly owns 465,737 shares of the company's stock, valued at $78,821,329.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 551 shares of the company's stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $169.24, for a total value of $93,251.24. Following the transaction, the insider now directly owns 27,921 shares in the company, valued at approximately $4,725,350.04. The disclosure for this sale can be found here. Insiders have sold 44,629 shares of company stock valued at $8,348,176 over the last ninety days. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PGR. Sachetta LLC bought a new position in shares of Progressive during the fourth quarter valued at approximately $25,000. Northwest Bank & Trust Co purchased a new stake in Progressive during the fourth quarter worth $25,000. Harbour Investments Inc. boosted its position in shares of Progressive by 109.1% in the 3rd quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider's stock worth $29,000 after purchasing an additional 108 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Progressive by 143.6% in the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider's stock worth $30,000 after purchasing an additional 112 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Progressive in the 1st quarter worth $31,000. 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.