Patrick K. Callahan Sells 4,669 Shares of The Progressive Co. (NYSE:PGR) Stock

The Progressive Co. (NYSE:PGR) insider Patrick K. Callahan sold 4,669 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $279.70, for a total value of $1,305,919.30. Following the completion of the transaction, the insider now owns 15,191 shares of the company’s stock, valued at $4,248,922.70. The trade was a 23.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Progressive Price Performance

Progressive stock opened at $277.33 on Wednesday. The company has a market capitalization of $162.57 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.70 and a beta of 0.35. The stock’s 50 day moving average is $255.77 and its 200-day moving average is $253.33. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The Progressive Co. has a 12 month low of $195.57 and a 12 month high of $287.49.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Equities research analysts expect that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PGR. HSBC downgraded Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a research note on Tuesday, December 10th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Progressive from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.59.

Institutional Trading of Progressive

A number of institutional investors have recently bought and sold shares of PGR. Webster Bank N. A. bought a new stake in shares of Progressive in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Progressive by 54.7% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in shares of Progressive during the 4th quarter worth $28,000. Finally, Valley National Advisers Inc. increased its position in shares of Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 120 shares during the period. Institutional investors 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.