The Progressive Co. (NYSE:PGR) Receives $211.88 Consensus PT from Analysts

Shares of The Progressive Co. (NYSE:PGR) have been given a consensus recommendation of “Hold” by the seventeen research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $211.88.

PGR has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Jefferies Financial Group increased their price target on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group increased their price objective on shares of Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. BMO Capital Markets raised their price target on shares of Progressive from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Bank of America cut their target price on Progressive from $279.00 to $273.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th.

Insider Activity

In other Progressive news, insider Karen Bailo sold 8,464 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the transaction, the insider now directly owns 32,342 shares in the company, valued at $6,128,485.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total value of $5,645,965.50. Following the transaction, the insider now directly owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Karen Bailo sold 8,464 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the sale, the insider now owns 32,342 shares of the company’s stock, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold 39,139 shares of company stock worth $7,458,139 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Progressive

Institutional investors have recently made changes to their positions in the company. Sachetta LLC purchased a new position in Progressive in the 4th quarter valued at $25,000. Northwest Bank & Trust Co acquired a new stake in shares of Progressive in the fourth quarter valued at about $25,000. Valley National Advisers Inc. raised its position in shares of Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock valued at $30,000 after buying an additional 112 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new position in shares of Progressive in the first quarter worth about $32,000. Finally, Register Financial Advisors LLC acquired a new position in Progressive during the first quarter worth about $35,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive Stock Down 0.1 %

Shares of NYSE:PGR opened at $208.72 on Friday. Progressive has a 1 year low of $111.41 and a 1 year high of $216.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.31. The firm has a market capitalization of $122.25 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 0.83 and a beta of 0.34. The business has a 50 day simple moving average of $203.96 and a two-hundred day simple moving average of $179.25.

Progressive (NYSE:PGR) last issued its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The business had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the prior year, the business earned $0.65 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Progressive will post 11.34 EPS for the current year.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, April 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date was Wednesday, April 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%.

Progressive Company Profile

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.