Rep. Byron Donalds Purchases Shares of The Progressive Co. (NYSE:PGR)

Representative Byron Donalds (R-Florida) recently bought shares of The Progressive Co. NYSE: PGR. In a filing disclosed on April 14th, the Representative disclosed that they had bought between $1,001 and $15,000 in Progressive stock on March 20th. The trade occurred in the Representative's "MORAN WEALTH IRA" account.

Representative Byron Donalds also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of DoorDash NASDAQ: DASH on 3/20/2025.
• Sold $1,001 - $15,000 in shares of GoDaddy NYSE: GDDY on 3/20/2025.
• Purchased $1,001 - $15,000 in shares of Arista Networks NYSE: ANET on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 3/20/2025.
• Purchased $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Gartner NYSE: IT on 3/20/2025.
• Purchased $1,001 - $15,000 in shares of Chipotle Mexican Grill NYSE: CMG on 3/20/2025.
• Sold $1,001 - $15,000 in shares of Equifax NYSE: EFX on 3/20/2025.
• Purchased $1,001 - $15,000 in shares of Tradeweb Markets NASDAQ: TW on 3/20/2025.
• Sold $1,001 - $15,000 in shares of JPMorgan Chase & Co. NYSE: JPM on 3/20/2025.

Progressive Stock Down 3.5 %

PGR traded down $9.68 during trading hours on Friday, hitting $265.45. 3,648,773 shares of the company's stock were exchanged, compared to its average volume of 2,636,730. 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 Progressive Co. has a 1-year low of $201.34 and a 1-year high of $292.99. The stock's 50-day moving average is $273.91 and its two-hundred day moving average is $257.86. The stock has a market cap of $155.62 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The insurance provider reported $4.65 EPS for the quarter, topping the consensus estimate of $4.28 by $0.37. The business had revenue of $22.21 billion during the quarter, compared to the consensus estimate of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Sell-side analysts predict that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.15%. Progressive's dividend payout ratio is currently 2.70%.

Analysts Set New Price Targets

PGR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Progressive from $267.00 to $287.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Barclays raised their target price on shares of Progressive from $285.00 to $297.00 and gave the company an "equal weight" rating in a report on Friday, April 11th. UBS Group lifted their price objective on shares of Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Wells Fargo & Company upped their target price on Progressive from $320.00 to $324.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, StockNews.com downgraded Progressive from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Progressive currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.76.

Hedge Funds Weigh In On Progressive

A number of hedge funds have recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in shares of Progressive during the 3rd quarter valued at about $55,000. Sunbelt Securities Inc. increased its stake in shares of Progressive by 50.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 394 shares of the insurance provider's stock valued at $100,000 after acquiring an additional 132 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Progressive during the 3rd quarter valued at $2,566,000. SkyView Investment Advisors LLC grew its holdings in Progressive by 2.2% in the third quarter. SkyView Investment Advisors LLC now owns 8,054 shares of the insurance provider's stock worth $2,044,000 after purchasing an additional 171 shares during the period. Finally, Anchor Investment Management LLC raised its holdings in shares of Progressive by 55.0% during the third quarter. Anchor Investment Management LLC now owns 1,583 shares of the insurance provider's stock valued at $402,000 after purchasing an additional 562 shares during the period. Institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In other Progressive news, insider Andrew J. Quigg sold 962 shares of the business's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $234,044.98. Following the completion of the sale, the insider now owns 34,787 shares in the company, valued at approximately $8,463,329.23. The trade was a 2.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Susan Patricia Griffith sold 11,021 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the transaction, the chief executive officer now owns 473,736 shares in the company, valued at approximately $115,255,231.44. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,317 shares of company stock valued at $14,844,282 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

About Representative Donalds

Byron Donalds (Republican Party) is a member of the U.S. House, representing Florida's 19th Congressional District. He assumed office on January 3, 2021. His current term ends on January 3, 2027. Donalds (Republican Party) is running for re-election to the U.S. House to represent Florida's 19th Congressional District. He declared candidacy for the 2026 election. Byron Donalds was born in Brooklyn, New York, and lives in Naples, Florida. Donalds earned a bachelor's degree in finance and marketing from Florida State University in 2002. His career experience includes working as a commercial credit officer in banking and as a portfolio manager in financial services.

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.