Progressive Corp (NYSE:PGR) insider Steven Broz sold 1,100 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $41.55, for a total value of $45,705.00. Following the sale, the insider now owns 8,955 shares in the company, valued at approximately $372,080.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Progressive Corp (NYSE:PGR) traded up 0.325% during trading on Wednesday, reaching $41.685. The company’s stock had a trading volume of 1,133,041 shares. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 20.344 and a beta of 0.75. The firm has a 50 day moving average price of $39.99 and a 200-day moving average price of $37.48. Progressive Corp has a 52-week low of $30.54 and a 52-week high of $41.79.

Progressive Corp (NYSE:PGR) last released its quarterly earnings results on Tuesday, April 18th. The insurance provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by $0.01. Progressive Corp had a net margin of 4.40% and a return on equity of 12.59%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Progressive Corp will post $2.34 earnings per share for the current year.

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

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Several large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in Progressive Corp by 17.5% in the third quarter. Hsbc Holdings PLC now owns 758,829 shares of the insurance provider’s stock worth $23,866,000 after buying an additional 112,945 shares during the period. Lomas Capital Management LLC raised its stake in Progressive Corp by 65.6% in the third quarter. Lomas Capital Management LLC now owns 1,152,340 shares of the insurance provider’s stock worth $36,299,000 after buying an additional 456,447 shares during the period. Engineers Gate Manager LP bought a new stake in Progressive Corp during the third quarter worth approximately $4,665,000. WINTON GROUP Ltd raised its stake in Progressive Corp by 111.0% in the third quarter. WINTON GROUP Ltd now owns 1,483,470 shares of the insurance provider’s stock worth $46,729,000 after buying an additional 780,436 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its stake in Progressive Corp by 9.6% in the third quarter. Transamerica Financial Advisors Inc. now owns 157,780 shares of the insurance provider’s stock worth $4,971,000 after buying an additional 13,861 shares during the period. Hedge funds and other institutional investors own 76.70% of the company’s stock.

Several analysts have recently commented on the company. Deutsche Bank AG upgraded Progressive Corp from a “sell” rating to a “hold” rating and increased their target price for the stock from $35.00 to $40.00 in a report on Wednesday, May 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 price target on shares of Progressive Corp in a research note on Thursday, May 18th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Progressive Corp in a research note on Thursday, May 4th. FBR & Co upped their price target on Progressive Corp from $35.00 to $36.00 and gave the company a “mkt perform” rating in a research note on Wednesday, May 10th. Finally, Bank of America Corp raised Progressive Corp from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $46.00 in a research note on Monday, March 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.85.

Progressive Corp Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

12 Month Chart for NYSE:PGR

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