Progressive Corp (PGR) Director Barbara R. Snyder Buys 292 Shares of Stock

Progressive Corp (NYSE:PGR) Director Barbara R. Snyder bought 292 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were bought at an average cost of $67.34 per share, for a total transaction of $19,663.28. Following the transaction, the director now directly owns 12,304 shares of the company’s stock, valued at approximately $828,551.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Progressive stock opened at $69.30 on Wednesday. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.42 and a current ratio of 0.32. Progressive Corp has a 52-week low of $51.99 and a 52-week high of $73.69.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, January 23rd. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.57). The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.86 billion. Progressive had a net margin of 8.16% and a return on equity of 24.54%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Analysts expect that Progressive Corp will post 5.01 EPS for the current fiscal year.

The firm also recently declared an annual dividend, which was paid on Monday, February 11th. Shareholders of record on Monday, February 4th were issued a $2.514 dividend. This represents a yield of 3.85%. The ex-dividend date of this dividend was Friday, February 1st. This is a positive change from Progressive’s previous annual dividend of $1.12. Progressive’s payout ratio is 56.79%.

PGR has been the topic of a number of research reports. Credit Suisse Group set a $79.00 target price on shares of Progressive and gave the stock a “buy” rating in a research report on Friday, November 2nd. Wells Fargo & Co set a $69.00 target price on shares of Progressive and gave the stock a “hold” rating in a research report on Tuesday, October 16th. ValuEngine lowered shares of Progressive from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Buckingham Research raised shares of Progressive from an “underperform” rating to a “neutral” rating and set a $58.00 target price on the stock in a research report on Monday, November 19th. Finally, Barclays raised shares of Progressive from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $67.00 to $73.00 in a research report on Wednesday, January 9th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $71.64.

Institutional investors have recently made changes to their positions in the business. Inverness Counsel LLC NY lifted its position in Progressive by 0.7% during the 3rd quarter. Inverness Counsel LLC NY now owns 581,349 shares of the insurance provider’s stock worth $41,299,000 after buying an additional 4,320 shares in the last quarter. BB&T Corp lifted its position in Progressive by 22.5% during the 3rd quarter. BB&T Corp now owns 36,457 shares of the insurance provider’s stock worth $2,589,000 after buying an additional 6,698 shares in the last quarter. Legal & General Group Plc lifted its position in Progressive by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 2,832,561 shares of the insurance provider’s stock worth $201,225,000 after buying an additional 37,940 shares in the last quarter. Picton Mahoney Asset Management lifted its position in Progressive by 3.7% during the 4th quarter. Picton Mahoney Asset Management now owns 306,700 shares of the insurance provider’s stock worth $18,503,000 after buying an additional 10,900 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Progressive by 22.4% during the 3rd quarter. Deutsche Bank AG now owns 6,168,587 shares of the insurance provider’s stock worth $438,207,000 after buying an additional 1,130,348 shares in the last quarter. 82.13% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://www.com-unik.info/2019/02/13/progressive-corp-pgr-director-barbara-r-snyder-buys-292-shares-of-stock.html.

Progressive Company Profile

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.

Read More: Bollinger Bands

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 reddit