The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith Sells 11,021 Shares of Stock

The Progressive Co. (NYSE:PGR) CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at approximately $115,255,231.44. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Susan Patricia Griffith also recently made the following trade(s):

• On Friday, January 3rd, Susan Patricia Griffith sold 9,066 shares of Progressive stock. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60.

Progressive Stock Performance

Shares of PGR opened at $239.58 on Friday. The stock has a 50-day moving average of $248.98 and a two-hundred day moving average of $243.14. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $140.35 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.63 and a beta of 0.41. The Progressive Co. has a one year low of $175.50 and a one year high of $270.62.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. Progressive’s dividend payout ratio is currently 2.91%.

Analysts Set New Price Targets

A number of brokerages recently commented on PGR. Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. TD Cowen upped their price objective on Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on shares of Progressive from $257.00 to $295.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley lowered their price target on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Progressive from $295.00 to $294.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Progressive has an average rating of “Moderate Buy” and an average target price of $274.65.

Hedge Funds Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its stake in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after acquiring an additional 391 shares during the period. Townsquare Capital LLC boosted its holdings in Progressive by 90.9% in the third quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock valued at $1,983,000 after purchasing an additional 3,720 shares during the last quarter. Diversified Trust Co boosted its holdings in Progressive by 84.3% in the third quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after purchasing an additional 11,770 shares during the last quarter. Sycomore Asset Management grew its position in Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock worth $5,856,000 after purchasing an additional 2,450 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Progressive by 7.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock valued at $1,286,036,000 after buying an additional 330,667 shares during the last quarter. 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.