The Progressive Corporation (NYSE:PGR - Get Free Report) insider John Jo Murphy sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $260.38, for a total value of $1,041,520.00. Following the transaction, the insider now directly owns 41,289 shares in the company, valued at approximately $10,750,829.82. This trade represents a 8.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Progressive Price Performance
PGR traded up $4.38 during trading on Monday, hitting $266.39. 3,006,400 shares of the stock traded hands, compared to its average volume of 2,712,353. The business has a 50 day moving average price of $275.34 and a 200 day moving average price of $264.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The Progressive Corporation has a twelve month low of $204.88 and a twelve month high of $292.99. The company has a market cap of $156.16 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.62 and a beta of 0.40.
Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.28 by $0.37. The business had revenue of $22.21 billion for the quarter, compared to analyst estimates of $21.87 billion. Progressive had a return on equity of 33.50% and a net margin of 11.10%. Equities research analysts forecast that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Progressive
A number of hedge funds have recently made changes to their positions in the stock. Highline Wealth Partners LLC boosted its stake in shares of Progressive by 114.0% during the first quarter. Highline Wealth Partners LLC now owns 92 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. TruNorth Capital Management LLC grew its holdings in 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 acquiring an additional 63 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in Progressive in the 4th quarter valued at approximately $28,000. HWG Holdings LP bought a new position in shares of Progressive during the first quarter valued at $28,000. Finally, Atala Financial Inc acquired a new position in shares of Progressive during the fourth quarter worth $32,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Progressive from $282.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, April 17th. Bank of America upgraded Progressive from a "neutral" rating to a "buy" rating and set a $312.00 price objective for the company in a report on Monday, April 28th. Wells Fargo & Company lifted their price target on Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $288.00 price objective on shares of Progressive in a report on Thursday, April 17th. Finally, Barclays lifted their target price on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $288.88.
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Progressive Company Profile
(
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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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