The Progressive Co. (NYSE:PGR) CFO John P. Sauerland Sells 10,000 Shares

The Progressive Co. (NYSE:PGRGet Free Report) CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This trade represents a 3.30 % 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.

Progressive Trading Down 0.5 %

Shares of PGR opened at $262.61 on Wednesday. The firm has a market capitalization of $153.84 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.73 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The Progressive Co. has a 1-year low of $149.14 and a 1-year high of $270.62. The company has a 50-day moving average of $254.33 and a 200 day moving average of $234.43.

Progressive (NYSE:PGRGet Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. The firm had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.95 billion. Progressive had a return on equity of 33.10% and a net margin of 11.27%. On average, research analysts expect that The Progressive Co. will post 13.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PGR shares. Roth Mkm increased their price objective on shares of Progressive from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. The Goldman Sachs Group increased their price target on Progressive from $262.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group upped their price objective on Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their target price on shares of Progressive from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.81.

View Our Latest Report on Progressive

Hedge Funds Weigh In On Progressive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Davis Capital Management bought a new position in Progressive during the 3rd quarter worth about $25,000. WR Wealth Planners LLC boosted its stake in shares of Progressive by 119.6% during the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares in the last quarter. Hilltop National Bank increased its holdings in Progressive by 126.0% during the second quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock valued at $34,000 after buying an additional 92 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after buying an additional 73 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in Progressive during the second quarter worth $36,000. Institutional investors own 85.34% of the company’s stock.

About Progressive

(Get Free Report)

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.

Featured Stories

Insider Buying and Selling by Quarter for Progressive (NYSE:PGR)

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.