The Progressive Co. (NYSE:PGR – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $263.19.
A number of equities research analysts recently weighed in on PGR shares. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. HSBC raised Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a report on Monday, August 12th. BMO Capital Markets lowered their price objective on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Citigroup cut their target price on Progressive from $232.00 to $225.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Finally, Bank of America upped their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th.
Get Our Latest Stock Analysis on PGR
Insider Activity
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock worth $10,703,318,000 after acquiring an additional 285,070 shares during the last quarter. Capital International Investors boosted its position in shares of Progressive by 15.7% in the 1st quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the period. Legal & General Group Plc increased its stake in Progressive by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 4,922,743 shares of the insurance provider’s stock worth $1,022,507,000 after purchasing an additional 92,212 shares in the last quarter. American Century Companies Inc. raised its holdings in Progressive by 3.0% during the 2nd quarter. American Century Companies Inc. now owns 2,392,773 shares of the insurance provider’s stock worth $497,003,000 after buying an additional 69,709 shares during the period. Finally, TD Asset Management Inc lifted its stake in Progressive by 16.8% during the first quarter. TD Asset Management Inc now owns 1,698,526 shares of the insurance provider’s stock valued at $351,289,000 after buying an additional 244,541 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.
Progressive Stock Performance
Progressive stock opened at $243.78 on Friday. The company has a market cap of $142.77 billion, a PE ratio of 17.72, a P/E/G ratio of 0.68 and a beta of 0.35. Progressive has a 12 month low of $149.14 and a 12 month high of $260.46. The company has a fifty day moving average price of $250.34 and a two-hundred day moving average price of $225.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.31 and a quick ratio of 0.31.
Progressive Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is 2.91%.
About Progressive
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.
Featured Articles
- Five stocks we like better than Progressive
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Texas Roadhouse Stock Steering for New Highs This Year
- Quiet Period Expirations Explained
- Monopar Therapeutics Skyrockets 400% on Licensing Deal
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Tractor Supply Stock Pulls Back: A Prime Buying Opportunity
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.