John P. Sauerland Sells 12,000 Shares of Progressive Corp (PGR) Stock

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.

Several institutional investors have recently added to or reduced their stakes in PGR. Atria Investments LLC acquired a new position in shares of Progressive during the 4th quarter valued at $377,000. Creative Planning lifted its position in shares of Progressive by 47.8% during the 4th quarter. Creative Planning now owns 11,970 shares of the insurance provider’s stock valued at $674,000 after acquiring an additional 3,873 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Progressive by 2.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,121,557 shares of the insurance provider’s stock valued at $119,487,000 after acquiring an additional 59,021 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Progressive by 133.4% during the 4th quarter. State of Alaska Department of Revenue now owns 76,780 shares of the insurance provider’s stock valued at $4,323,000 after acquiring an additional 43,890 shares during the period. Finally, Patten & Patten Inc. TN lifted its position in shares of Progressive by 1.9% during the 4th quarter. Patten & Patten Inc. TN now owns 279,805 shares of the insurance provider’s stock valued at $15,759,000 after acquiring an additional 5,350 shares during the period. Institutional investors own 79.89% of the company’s stock.

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.

About Progressive

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.

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

Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit