Rep. Julie Johnson Purchases Shares of The Progressive Co. (NYSE:PGR)

Representative Julie Johnson (D-Texas) recently bought shares of The Progressive Co. (NYSE:PGR). In a filing disclosed on March 12th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on February 14th. 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 Norfolk Southern (NYSE:NSC) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Union Pacific (NYSE:UNP) on 2/25/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of BlackRock (NYSE:BLK) on 2/24/2025.
• Sold $1,001 – $15,000 in shares of The PNC Financial Services Group (NYSE:PNC) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Progressive (NYSE:PGR) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/24/2025.
• Purchased $1,001 – $15,000 in shares of Capital One Financial (NYSE:COF) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Bank of New York Mellon (NYSE:BK) on 2/14/2025.

Progressive Trading Up 0.7 %

Shares of Progressive stock opened at $279.54 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The firm has a market cap of $163.87 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The Progressive Co. has a 52-week low of $199.54 and a 52-week high of $287.49. The company’s 50-day simple moving average is $257.30 and its 200-day simple moving average is $253.68.

Progressive (NYSE:PGR) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, equities research analysts anticipate that The Progressive Co. will post 14.68 earnings per share for the current year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 3rd. Progressive’s payout ratio is 2.78%.

Institutional Trading of Progressive

Several institutional investors have recently made changes to their positions in the stock. Webster Bank N. A. acquired a new stake in Progressive during the fourth quarter worth about $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Progressive during the 4th quarter worth about $28,000. Atlantic Edge Private Wealth Management LLC increased its position in Progressive by 54.7% during 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. Minot DeBlois Advisors LLC purchased a new position in Progressive in the fourth quarter valued at approximately $28,000. Finally, Valley National Advisers Inc. lifted its position in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO John P. Sauerland sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, the chief financial officer now directly owns 282,958 shares of the company’s stock, valued at approximately $67,530,756.28. The trade was a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now directly owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,257 shares of company stock worth $15,752,781 over the last ninety days. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PGR has been the subject of a number of recent analyst reports. Roth Mkm raised their target price on Progressive from $290.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Hsbc Global Res cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays upped their target price on shares of Progressive from $264.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday. StockNews.com downgraded shares of Progressive from a “buy” rating to a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.82.

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.