Progressive Corporation (The) (NYSE:PGR) was the recipient of unusually large options trading activity on Friday. Investors acquired 5,138 put options on the company. This is an increase of Infinity compared to the typical volume of 0 put options.

In related news, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at approximately $3,422,641.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider M Jeffrey Charney sold 6,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $48.90, for a total transaction of $293,400.00. Following the sale, the insider now directly owns 108,038 shares of the company’s stock, valued at $5,283,058.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,250 shares of company stock valued at $1,085,383. 0.56% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PGR. Mckinley Capital Management LLC Delaware bought a new stake in Progressive Corporation (The) during the second quarter worth approximately $101,000. Cypress Capital Management LLC WY bought a new stake in Progressive Corporation (The) during the second quarter worth approximately $106,000. Balentine LLC boosted its holdings in Progressive Corporation (The) by 3,273.0% during the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares in the last quarter. IFP Advisors Inc boosted its holdings in Progressive Corporation (The) by 12.9% during the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after buying an additional 341 shares in the last quarter. Finally, Fiduciary Trust Co. bought a new stake in Progressive Corporation (The) during the second quarter worth approximately $143,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.

PGR has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Progressive Corporation (The) from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. B. Riley reissued a “hold” rating and issued a $46.00 price objective on shares of Progressive Corporation (The) in a research report on Wednesday, November 15th. Barclays PLC upped their price objective on shares of Progressive Corporation (The) from $41.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, October 16th. Zacks Investment Research raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group upped their price objective on shares of Progressive Corporation (The) from $38.00 to $42.00 and gave the company an “underperform” rating in a research report on Monday, September 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.76.

Progressive Corporation (NYSE:PGR) opened at $51.55 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The stock has a market cap of $29,981.48, a P/E ratio of 22.51, a PEG ratio of 2.98 and a beta of 0.92. Progressive Corporation has a 1-year low of $32.77 and a 1-year high of $52.08.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. analysts anticipate that Progressive Corporation will post 2.36 EPS for the current fiscal year.

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About Progressive Corporation (The)

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.

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