Shares of Progressive Corp (NYSE:PGR) have been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $71.92.
Several research analysts have recently weighed in on PGR shares. Citigroup dropped their target price on shares of Progressive from $66.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, July 12th. B. Riley lifted their target price on shares of Progressive from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, July 16th. Wells Fargo & Co set a $64.00 target price on shares of Progressive and gave the stock a “hold” rating in a research report on Tuesday, July 17th. Morgan Stanley lifted their target price on shares of Progressive from $64.00 to $68.00 and gave the stock a “$60.39” rating in a research report on Wednesday, July 18th. Finally, Buckingham Research raised shares of Progressive to a “sell” rating and set a $52.00 target price on the stock in a research report on Wednesday, July 18th.
Shares of Progressive stock traded up $0.34 during trading on Monday, hitting $73.46. The stock had a trading volume of 233,291 shares, compared to its average volume of 3,797,840. The company has a market cap of $40.65 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.42 and a quick ratio of 0.42. Progressive has a 1 year low of $50.14 and a 1 year high of $73.69.
In related news, insider John A. Barbagallo sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $68.02, for a total transaction of $3,401,000.00. Following the transaction, the insider now directly owns 177,368 shares of the company’s stock, valued at $12,064,571.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 12,600 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $64.14, for a total transaction of $808,164.00. Following the transaction, the chief executive officer now directly owns 265,856 shares in the company, valued at $17,052,003.84. The disclosure for this sale can be found here. Insiders have sold 124,600 shares of company stock worth $8,325,164 over the last ninety days. 0.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of PGR. Capital Advisors Ltd. LLC grew its position in Progressive by 409.1% in the third quarter. Capital Advisors Ltd. LLC now owns 1,400 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 1,125 shares in the last quarter. ELM Advisors LLC bought a new stake in Progressive in the third quarter worth approximately $107,000. Harvest Fund Management Co. Ltd bought a new stake in Progressive in the third quarter worth approximately $112,000. Trust Co. of Vermont grew its position in Progressive by 82.4% in the second quarter. Trust Co. of Vermont now owns 2,006 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 906 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Progressive in the second quarter worth approximately $168,000. 79.89% of the stock is owned by institutional investors.
Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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