1 week Ago By ABMN Staff
The Progressive Co. ( NYSE:PGR – Get Free Report ) has received an average rating of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company.
The average twelve-month target price among brokerages that have covered the stock in the last year is $275.94. A number of equities analysts have commented on PGR shares.
Hsbc Global Res downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Progressive from $267.00 to $277.
00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $280.00 to $290.
00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a report on Thursday, December 26th.
Finally, HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target on the stock. in a research note on Tuesday, December 10th.
Get Our Latest Stock Report on PGR Progressive Stock Performance Progressive ( NYSE:PGR – Get Free Report ) last issued its quarterly earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.
40 by $0.18. The company had revenue of $19.
43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a net margin of 11.
27% and a return on equity of 33.10%. Equities analysts forecast that Progressive will post 13.
2 earnings per share for the current year. Progressive Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, January 10th will be issued a $0.
10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.
17%. The ex-dividend date of this dividend is Friday, January 10th. Progressive’s payout ratio is presently 2.
91%. Insider Buying and Selling In other Progressive news, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.
15, for a total transaction of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares in the company, valued at $6,618,555.
95. This trade represents a 10.16 % decrease in their ownership of the stock.
The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink . Also, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th.
The shares were sold at an average price of $238.66, for a total value of $2,386,600.00.
Following the completion of the transaction, the chief financial officer now directly owns 282,958 shares in the company, valued at $67,530,756.28. The trade was a 3.
41 % decrease in their position. The disclosure for this sale can be found here . Over the last three months, insiders have sold 22,981 shares of company stock worth $5,816,178.
Insiders own 0.34% of the company’s stock. Institutional Trading of Progressive Several institutional investors have recently added to or reduced their stakes in PGR.
Davis Capital Management acquired a new position in shares of Progressive in the third quarter valued at about $25,000. DiNuzzo Private Wealth Inc. grew its position in shares of Progressive by 114.
1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter.
Kimelman & Baird LLC bought a new position in shares of Progressive during the second quarter worth approximately $36,000. Sachetta LLC raised its position in shares of Progressive by 34.0% in the second quarter.
Sachetta LLC now owns 209 shares of the insurance provider’s stock valued at $45,000 after buying an additional 53 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Progressive during the 3rd quarter worth $49,000. 85.
34% of the stock is currently owned by institutional investors. Progressive Company Profile ( Get Free Report The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related 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.
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