Today, the Vice Pres & Chief Acct Officer of Progressive (NYSE: PGR), Jeffrey Basch, sold shares of PGR for $665.9K.
Following Jeffrey Basch’s last PGR Sell transaction on October 20, 2017, the stock climbed by 12.5%. In addition to Jeffrey Basch, one other PGR executive reported Sell trades in the last month.
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Based on Progressive’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $7.42 billion and quarterly net profit of $718 million. In comparison, last year the company earned revenue of $6.32 billion and had a net profit of $424 million. PGR’s market cap is $35.15B and the company has a P/E ratio of 18.80. Currently, Progressive has an average volume of 4.82M.
Nine different firms, including Barclays and Citigroup, currently also have a Sell rating on the stock. Based on 6 analyst ratings, the analyst consensus is Hold with an average price target of $63.33, reflecting a -3.8% downside.
The insider sentiment on Progressive has been negative according to 74 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.
