Progressive (NYSE:PGR) Stock Acquired Rep. Julie Johnson

Representative Julie Johnson (D-Texas) recently bought shares of The Progressive Co. (NYSE:PGR). In a filing disclosed on February 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on January 24th. The trade occurred in the Representative’s “CHASE BROKERAGE ACCOUNT (3935)” account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of ALLETE (NYSE:ALE) on 1/28/2025.
• Sold $1,001 – $15,000 in shares of PPG Industries (NYSE:PPG) on 1/27/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 1/24/2025.
• Sold $1,001 – $15,000 in shares of Morgan Stanley (NYSE:MS) on 1/24/2025.
• Purchased $1,001 – $15,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 1/17/2025.
• Sold $1,001 – $15,000 in shares of Walmart (NYSE:WMT) on 1/17/2025.

Progressive Trading Up 0.6 %

NYSE:PGR traded up $1.67 during mid-day trading on Friday, hitting $263.80. The company had a trading volume of 643,581 shares, compared to its average volume of 2,418,469. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The firm has a market cap of $154.54 billion, a P/E ratio of 18.33, a P/E/G ratio of 0.64 and a beta of 0.42. The business’s fifty day moving average is $244.80 and its two-hundred day moving average is $246.75. The Progressive Co. has a fifty-two week low of $186.94 and a fifty-two week high of $270.62.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. As a group, research analysts expect that The Progressive Co. will post 14.44 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.78%.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at $114,691,485.60. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the sale, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,361 shares of company stock worth $13,983,575. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PGR shares. Morgan Stanley lifted their price objective on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Progressive from $302.00 to $313.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Evercore ISI boosted their price target on Progressive from $277.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.71.

Hedge Funds Weigh In On Progressive

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kesler Norman & Wride LLC grew its holdings in shares of Progressive by 1.1% during the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider’s stock worth $885,000 after acquiring an additional 40 shares during the period. Raleigh Capital Management Inc. lifted its holdings in Progressive by 20.9% in the third quarter. Raleigh Capital Management Inc. now owns 237 shares of the insurance provider’s stock valued at $60,000 after acquiring an additional 41 shares during the period. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Progressive by 54.7% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. LRI Investments LLC raised its stake in Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after acquiring an additional 42 shares during the period. Finally, Washington Trust Bank lifted its holdings in shares of Progressive by 4.1% in the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after buying an additional 42 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas’ 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027.

Johnson (Democratic Party) ran for election to the U.S. House to represent Texas’ 32nd Congressional District. She won in the general election on November 5, 2024.

Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson’s career experience includes working as an attorney.

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.