Mariann Wojtkun Marshall Sells 585 Shares of The Progressive Co. (NYSE:PGR) Stock

The Progressive Co. (NYSE:PGR) CAO Mariann Wojtkun Marshall sold 585 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $142,324.65. Following the sale, the chief accounting officer now owns 3,983 shares of the company’s stock, valued at $969,024.07. The trade was a 12.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Mariann Wojtkun Marshall also recently made the following trade(s):

• On Friday, January 3rd, Mariann Wojtkun Marshall sold 191 shares of Progressive stock. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10.

Progressive Trading Down 0.4 %

Shares of NYSE:PGR opened at $238.58 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day moving average is $248.62 and its 200-day moving average is $243.11. The company has a market cap of $139.76 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.62 and a beta of 0.41. The Progressive Co. has a 52-week low of $175.50 and a 52-week high of $270.62.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Friday, January 10th. Progressive’s dividend payout ratio is currently 2.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PGR shares. Barclays cut their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. Evercore ISI boosted their target price on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Bank of America lifted their price target on Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, BMO Capital Markets dropped their price objective on Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGR. Davis Capital Management bought a new stake in Progressive in the 3rd quarter valued at $25,000. Webster Bank N. A. acquired a new stake in shares of Progressive during the 4th quarter valued at about $26,000. Valley National Advisers Inc. increased its stake in Progressive by 3,000.0% in the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 120 shares during the period. DiNuzzo Private Wealth Inc. raised its position in Progressive by 114.1% in the third 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. Finally, Kimelman & Baird LLC bought a new position in Progressive during the second quarter worth about $36,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

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.