The Progressive Co. (NYSE:PGR) Director Dyke Kahina Van Sells 2,490 Shares

The Progressive Co. (NYSE:PGR - Get Free Report) Director Dyke Kahina Van sold 2,490 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $277.67, for a total value of $691,398.30. Following the completion of the sale, the director now owns 12,429 shares of the company's stock, valued at $3,451,160.43. This trade represents a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Progressive Trading Up 0.4%

Shares of PGR stock traded up $0.98 on Friday, hitting $278.10. The stock had a trading volume of 575,933 shares, compared to its average volume of 2,636,541. The company's 50 day moving average price is $275.33 and its 200-day moving average price is $262.66. The Progressive Co. has a 1 year low of $201.34 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The firm has a market capitalization of $163.03 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.70 and a beta of 0.40.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping the consensus estimate of $4.28 by $0.37. Progressive had a net margin of 11.25% and a return on equity of 33.79%. The business had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. Analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive's payout ratio is currently 2.70%.

Institutional Trading of Progressive

A number of hedge funds and other institutional investors have recently bought and sold shares of PGR. Ameritas Advisory Services LLC boosted its holdings in Progressive by 23.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,365 shares of the insurance provider's stock valued at $806,000 after purchasing an additional 635 shares in the last quarter. Simon Quick Advisors LLC lifted its position in shares of Progressive by 4.8% during the 4th quarter. Simon Quick Advisors LLC now owns 3,983 shares of the insurance provider's stock worth $954,000 after buying an additional 182 shares during the last quarter. Advisory Alpha LLC boosted its holdings in shares of Progressive by 13.6% in the 4th quarter. Advisory Alpha LLC now owns 936 shares of the insurance provider's stock valued at $224,000 after buying an additional 112 shares in the last quarter. Marino Stram & Associates LLC grew its position in shares of Progressive by 3.2% in the 4th quarter. Marino Stram & Associates LLC now owns 4,202 shares of the insurance provider's stock valued at $1,007,000 after buying an additional 131 shares during the last quarter. Finally, Kelleher Financial Advisors grew its position in shares of Progressive by 4.7% in the 4th quarter. Kelleher Financial Advisors now owns 995 shares of the insurance provider's stock valued at $238,000 after buying an additional 45 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on PGR. Roth Mkm lifted their target price on shares of Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Morgan Stanley set a $330.00 target price on shares of Progressive and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods restated a "market perform" rating and set a $288.00 price target on shares of Progressive in a research report on Thursday, April 17th. JPMorgan Chase & Co. increased their price objective on shares of Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Finally, Bank of America raised shares of Progressive from a "neutral" rating to a "buy" rating and set a $312.00 target price on the stock in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Progressive presently has an average rating of "Moderate Buy" and an average target price of $288.24.

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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