Progressive (NYSE:PGR) CAO Carl Joyce Sells 141 Shares

The Progressive Corporation (NYSE:PGR) CAO Carl Joyce sold 141 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $29,892.00. Following the completion of the sale, the chief accounting officer directly owned 828 shares of the company’s stock, valued at approximately $175,536. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Progressive Stock Performance

NYSE:PGR traded down $4.63 during trading hours on Monday, reaching $205.97. 1,488,640 shares of the stock were exchanged, compared to its average volume of 3,561,705. The stock has a market capitalization of $120.68 billion, a P/E ratio of 10.71, a P/E/G ratio of 9.19 and a beta of 0.33. The firm has a 50 day simple moving average of $208.98 and a 200-day simple moving average of $223.78. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99.

Hedge Funds Weigh In On Progressive

Several institutional investors have recently modified their holdings of PGR. Brighton Jones LLC raised its position in shares of Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock worth $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive in the fourth quarter worth approximately $269,000. Bison Wealth LLC boosted its stake in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Progressive during the 2nd quarter valued at $33,000. Finally, Savant Capital LLC increased its position in shares of Progressive by 4.3% during the 2nd quarter. Savant Capital LLC now owns 18,531 shares of the insurance provider’s stock valued at $4,945,000 after purchasing an additional 761 shares during the period. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of a number of research reports. Mizuho set a $240.00 price objective on shares of Progressive in a report on Wednesday, January 14th. William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. HSBC lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. JPMorgan Chase & Co. dropped their price objective on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Finally, Bank of America cut their target price on shares of Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $245.50.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.