Progressive Corp (NYSE:PGR) CFO John P. Sauerland sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $60.52, for a total transaction of $726,240.00. Following the sale, the chief financial officer now directly owns 376,423 shares in the company, valued at $22,781,119.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
NYSE:PGR opened at $62.23 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.44 and a current ratio of 0.44. Progressive Corp has a 52 week low of $41.53 and a 52 week high of $62.99. The firm has a market capitalization of $36.10 billion, a PE ratio of 23.66, a PEG ratio of 2.08 and a beta of 0.66.
Progressive (NYSE:PGR) last released its earnings results on Wednesday, May 2nd. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.10. Progressive had a net margin of 6.75% and a return on equity of 18.90%. equities research analysts forecast that Progressive Corp will post 4.07 earnings per share for the current year.
A number of equities research analysts have weighed in on PGR shares. UBS boosted their target price on shares of Progressive from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. MKM Partners upped their price objective on shares of Progressive from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Co set a $57.00 price objective on shares of Progressive and gave the company a “hold” rating in a research note on Wednesday, February 14th. Zacks Investment Research lowered shares of Progressive from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, ValuEngine raised shares of Progressive from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.06.
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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