Progressive Corp (NYSE:PGR) CMO M Jeffrey Charney sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $76.59, for a total transaction of $765,900.00. Following the completion of the transaction, the chief marketing officer now owns 127,304 shares in the company, valued at $9,750,213.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
M Jeffrey Charney also recently made the following trade(s):
- On Thursday, January 31st, M Jeffrey Charney sold 18,000 shares of Progressive stock. The shares were sold at an average price of $66.58, for a total transaction of $1,198,440.00.
PGR opened at $75.00 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $43.80 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.94 and a beta of 0.77. Progressive Corp has a twelve month low of $56.71 and a twelve month high of $77.34.
The company also recently announced an annual dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, April 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a yield of 0.14%. Progressive’s dividend payout ratio (DPR) is presently 59.05%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC acquired a new stake in Progressive in the fourth quarter worth $27,000. Liberty Wealth Management LLC acquired a new stake in shares of Progressive during the fourth quarter worth $30,000. Karp Capital Management Corp acquired a new stake in shares of Progressive during the fourth quarter worth $32,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Progressive during the fourth quarter worth $33,000. Finally, Capital Financial Planning LLC acquired a new stake in shares of Progressive during the fourth quarter worth $33,000. Institutional investors own 80.57% of the company’s stock.
Several equities analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Progressive from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday. Wells Fargo & Co restated a “hold” rating and issued a $73.00 price objective on shares of Progressive in a report on Thursday, February 28th. Barclays increased their price objective on shares of Progressive from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Citigroup increased their price objective on shares of Progressive from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, January 2nd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Progressive presently has an average rating of “Buy” and a consensus price target of $73.71.
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Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.
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