Progressive Corp (PGR) Insider Steven Broz Sells 1,100 Shares
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.
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.
Receive News & Ratings for Progressive Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corp and related companies with MarketBeat.com's FREE daily email newsletter.