Insider Selling: The Progressive Co. (NYSE:PGR) CAO Sells 585 Shares of Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $142,324.65. Following the sale, the chief accounting officer now owns 3,983 shares in the company, valued at approximately $969,024.07. This trade represents a 12.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The shares were sold at an average price of $242.10, for a total value of $46,241.10.

Progressive Stock Performance

Shares of PGR stock opened at $238.58 on Friday. The stock has a 50-day moving average of $248.27 and a 200-day moving average of $243.31. The Progressive Co. has a one year low of $175.50 and a one year high of $270.62. The stock has a market cap of $139.76 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a yield of 0.17%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods reduced their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Progressive from $299.00 to $302.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

Hedge Funds Weigh In On Progressive

Institutional investors and hedge funds have recently made changes to their positions in the company. Davis Capital Management acquired a new position in Progressive in the third quarter valued at about $25,000. Webster Bank N. A. acquired a new position in shares of Progressive in the 4th quarter valued at approximately $26,000. Valley National Advisers Inc. increased its stake in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares during the period. Finally, Kimelman & Baird LLC bought a new position in Progressive in the second quarter valued at approximately $36,000. Institutional investors and hedge funds 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.