Rep. Jefferson Shreve Sells Off Shares of The Progressive Corporation (NYSE:PGR)

Representative Jefferson Shreve (R-Indiana) recently sold shares of The Progressive Corporation NYSE: PGR. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in Progressive stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Progressive Trading Up 1.1%

Shares of NYSE PGR traded up $2.84 during midday trading on Friday, reaching $250.22. The stock had a trading volume of 2,805,287 shares, compared to its average volume of 4,033,992. The company's 50 day moving average price is $264.25 and its 200 day moving average price is $266.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.29 and a current ratio of 0.34. The Progressive Corporation has a twelve month low of $208.13 and a twelve month high of $292.99. The firm has a market cap of $146.69 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The business had revenue of $20.08 billion for the quarter, compared to analysts' expectations of $20.39 billion. During the same quarter in the prior year, the firm posted $2.48 earnings per share. The business's quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently announced a dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, July 4th were given a dividend of $0.10 per share. This represents a yield of 0.15%. The ex-dividend date of this dividend was Thursday, July 3rd. Progressive's dividend payout ratio is presently 2.25%.

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the completion of the sale, the insider owned 41,289 shares in the company, valued at $10,750,829.82. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 1,267 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $247.54, for a total value of $313,633.18. Following the completion of the transaction, the insider owned 26,354 shares in the company, valued at approximately $6,523,669.16. The trade was a 4.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,972 shares of company stock valued at $11,764,581. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PGR. Morgan Stanley lowered their target price on Progressive from $290.00 to $280.00 and set an "equal weight" rating for the company in a report on Monday, July 14th. UBS Group reduced their price objective on shares of Progressive from $280.00 to $268.00 and set a "neutral" rating for the company in a research report on Monday, July 21st. Wall Street Zen downgraded shares of Progressive from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods cut their target price on shares of Progressive from $290.00 to $268.00 and set a "market perform" rating on the stock in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $286.88.

Institutional Trading of Progressive

Several institutional investors have recently made changes to their positions in PGR. Highline Wealth Partners LLC boosted its position in Progressive by 114.0% in the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock worth $26,000 after purchasing an additional 49 shares during the last quarter. TruNorth Capital Management LLC raised its stake in shares of Progressive by 210.0% during the 1st quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider's stock worth $26,000 after purchasing an additional 63 shares during the period. Minot DeBlois Advisors LLC purchased a new position in shares of Progressive in the 4th quarter worth about $28,000. HWG Holdings LP bought a new position in Progressive during the first quarter valued at about $28,000. Finally, Atala Financial Inc bought a new stake in Progressive in the fourth quarter worth about $32,000. Institutional investors own 85.34% of the company's stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Progressive

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.