Insider Selling: John P. Sauerland Unloads 5,600 Shares of The Progressive Stock (PGR)
The Progressive (NYSE:PGR) Insider John P. Sauerland sold 5,600 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $24.69, for a total value of $138,264.00. Following the completion of the sale, the insider now directly owns 290,303 shares in the company, valued at approximately $7,167,581. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of The Progressive (NYSE:PGR) traded up 0.97% during mid-day trading on Thursday, hitting $24.95. The stock had a trading volume of 2,478,607 shares. The Progressive has a 52-week low of $22.53 and a 52-week high of $28.54. The stock’s 50-day moving average is $24.22 and its 200-day moving average is $24.35. The company has a market cap of $14.757 billion and a P/E ratio of 12.94.
The Progressive (NYSE:PGR) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.01. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company posted $0.54 earnings per share. The Progressive’s revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that The Progressive will post $1.65 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PGR shares. Analysts at Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of The Progressive in a research note on Thursday, August 14th. They now have a $23.00 price target on the stock, up previously from $22.50. Separately, analysts at Citigroup Inc. upgraded shares of The Progressive from a “neutral” rating to a “buy” rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The Progressive has an average rating of “Hold” and an average price target of $23.75.
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services.
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