Rep. Julie Johnson Buys The Progressive Co. (NYSE:PGR) Stock

Representative Julie Johnson (D-Texas) recently bought shares of The Progressive Co. (NYSE:PGR). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on February 24th. The trade occurred in the Representative’s “CHASE BROKERAGE ACCOUNT (3935)” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/14/2025.

Progressive Trading Up 0.7 %

Shares of Progressive stock opened at $279.54 on Friday. The Progressive Co. has a 52-week low of $199.54 and a 52-week high of $287.49. The stock has a market cap of $163.87 billion, a PE ratio of 19.41, a PEG ratio of 1.70 and a beta of 0.35. The firm has a 50-day moving average of $257.30 and a 200-day moving average of $253.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, sell-side analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of recent research reports. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research note on Tuesday, December 10th. BMO Capital Markets dropped their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Bank of America cut their price objective on shares of Progressive from $333.00 to $318.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company raised their target price on shares of Progressive from $313.00 to $317.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price target 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. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and an average price target of $277.82.

Insider Buying and Selling at Progressive

In other Progressive news, CIO Jonathan S. Bauer sold 1,227 shares of Progressive stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $281.00, for a total value of $344,787.00. Following the completion of the sale, the executive now directly owns 28,393 shares in the company, valued at approximately $7,978,433. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 681 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $164,870.10. Following the transaction, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,257 shares of company stock valued at $15,752,781. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progressive

Institutional investors have recently made changes to their positions in the stock. TFR Capital LLC. acquired a new stake in Progressive during the 4th quarter valued at approximately $1,712,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Progressive in the 4th quarter valued at $118,434,000. Employees Retirement System of Texas increased its position in shares of Progressive by 112.0% during the fourth quarter. Employees Retirement System of Texas now owns 34,541 shares of the insurance provider’s stock worth $8,276,000 after buying an additional 18,250 shares during the period. Fidelity D & D Bancorp Inc. raised its stake in Progressive by 44.3% during the fourth quarter. Fidelity D & D Bancorp Inc. now owns 2,606 shares of the insurance provider’s stock worth $624,000 after buying an additional 800 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Progressive in the fourth quarter valued at $359,000. Institutional investors own 85.34% of the company’s stock.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.