Steven Broz Sells 1,267 Shares of The Progressive Corporation (NYSE:PGR) Stock

The Progressive Corporation (NYSE:PGR - Get Free Report) insider Steven Broz sold 1,267 shares of Progressive stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $260.38, for a total value of $329,901.46. Following the sale, the insider now owns 27,621 shares in the company, valued at $7,191,955.98. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steven Broz also recently made the following trade(s):

• On Friday, May 23rd, Steven Broz sold 1,267 shares of Progressive stock. The stock was sold at an average price of $277.81, for a total value of $351,985.27.

Progressive Price Performance

PGR stock traded up $4.38 during trading on Monday, reaching $266.39. The company's stock had a trading volume of 3,006,400 shares, compared to its average volume of 2,712,353. The company's fifty day moving average is $275.34 and its 200-day moving average is $264.49. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 1 year low of $204.88 and a 1 year high of $292.99. The company has a market capitalization of $156.16 billion, a P/E ratio of 17.96, a price-to-earnings-growth 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 (EPS) for the quarter, topping analysts' consensus estimates of $4.28 by $0.37. Progressive had a return on equity of 33.50% and a net margin of 11.10%. The business had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $21.87 billion. On average, research analysts expect that The Progressive Corporation will post 14.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PGR. UBS Group upped 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. Morgan Stanley set a $330.00 price target on Progressive and gave the company an "overweight" rating in a report on Monday, May 19th. Barclays raised their price target on Progressive from $285.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Wall Street Zen upgraded Progressive from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised their target price on Progressive from $267.00 to $287.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.88.

Institutional Trading of Progressive

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

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.