The Progressive Co. (NYSE:PGR) Insider Sells $509,288.70 in Stock

The Progressive Co. (NYSE:PGRGet Rating) insider Daniel P. Mascaro sold 3,930 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $129.59, for a total value of $509,288.70. Following the completion of the sale, the insider now owns 42,818 shares of the company’s stock, valued at approximately $5,548,784.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Progressive Price Performance

Shares of PGR opened at $131.09 on Friday. The firm has a market cap of $76.70 billion, a price-to-earnings ratio of 92.97, a PEG ratio of 1.68 and a beta of 0.47. The stock has a 50 day moving average of $124.04 and a 200-day moving average of $119.79. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The Progressive Co. has a 52 week low of $92.44 and a 52 week high of $131.49.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays lowered their target price on Progressive from $106.00 to $104.00 and set an “underweight” rating for the company in a research note on Friday, October 14th. Evercore ISI lowered their price objective on Progressive to $133.00 in a research note on Thursday, October 20th. Jefferies Financial Group upgraded Progressive from a “hold” rating to a “buy” rating and raised their price objective for the company from $123.00 to $142.00 in a research note on Friday, October 7th. StockNews.com lowered Progressive from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Finally, Raymond James raised their price objective on Progressive from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $120.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Progressive by 530.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,158,996 shares of the insurance provider’s stock worth $1,297,456,000 after purchasing an additional 9,388,746 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Progressive by 17.6% in the 1st quarter. Wellington Management Group LLP now owns 33,242,101 shares of the insurance provider’s stock worth $3,789,267,000 after purchasing an additional 4,980,478 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Progressive by 1,235.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 3,762,311 shares of the insurance provider’s stock worth $437,218,000 after purchasing an additional 3,480,538 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Progressive by 42.6% in the 2nd quarter. Principal Financial Group Inc. now owns 7,084,686 shares of the insurance provider’s stock worth $823,736,000 after purchasing an additional 2,114,902 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Progressive by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 48,453,671 shares of the insurance provider’s stock worth $5,523,234,000 after purchasing an additional 1,250,492 shares during the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

About Progressive

(Get Rating)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.

Featured Articles

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.