The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall Sells 472 Shares

The Progressive Co. (NYSE:PGR – Get Rating) CAO Mariann Wojtkun Marshall sold 472 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $138.67, for a total transaction of $65,452.24. Following the completion of the transaction, the chief accounting officer now directly owns 3,981 shares in the company, valued at approximately $552,045.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Progressive Stock Down 4.6 %

Shares of NYSE:PGR traded down $6.55 during trading on Friday, reaching $136.32. The stock had a trading volume of 6,382,876 shares, compared to its average volume of 2,459,585. The Progressive Co. has a one year low of $106.35 and a one year high of $146.50. The company has a market capitalization of $79.79 billion, a P/E ratio of 115.53, a PEG ratio of 0.90 and a beta of 0.50. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $137.74 and its 200 day simple moving average is $130.25.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Thursday, April 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Wednesday, April 5th. Progressive’s dividend payout ratio is currently 33.90%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James raised their price target on shares of Progressive from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, January 26th. Wells Fargo & Company raised shares of Progressive from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $116.00 to $158.00 in a research note on Thursday. Barclays raised their price target on shares of Progressive from $104.00 to $109.00 and gave the stock an “underweight” rating in a research note on Thursday, December 15th. Citigroup raised their price target on shares of Progressive from $109.00 to $111.00 and gave the stock a “sell” rating in a research note on Wednesday, February 1st. Finally, BMO Capital Markets raised their target price on shares of Progressive from $155.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Progressive has a consensus rating of “Hold” and a consensus price target of $139.85.

Institutional Trading of Progressive

Institutional investors have recently modified their holdings of the company. Kentucky Retirement Systems boosted its holdings in shares of Progressive by 5.5% in the 3rd quarter. Kentucky Retirement Systems now owns 45,786 shares of the insurance provider’s stock valued at $5,321,000 after buying an additional 2,377 shares in the last quarter. Texas Permanent School Fund boosted its stake in Progressive by 7.1% in the 3rd quarter. Texas Permanent School Fund now owns 82,762 shares of the insurance provider’s stock worth $9,618,000 after purchasing an additional 5,508 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Progressive by 1.8% in the 2nd quarter. Renaissance Technologies LLC now owns 675,500 shares of the insurance provider’s stock worth $78,540,000 after purchasing an additional 11,900 shares in the last quarter. Engineers Gate Manager LP boosted its stake in Progressive by 11.2% in the 3rd quarter. Engineers Gate Manager LP now owns 7,450 shares of the insurance provider’s stock worth $866,000 after purchasing an additional 748 shares in the last quarter. Finally, FORA Capital LLC acquired a new stake in Progressive in the 2nd quarter worth approximately $500,000. 83.19% of the stock is currently owned by institutional investors.

Progressive Company Profile

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Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, and Property.