A Director at Progressive (PGR) is Selling Shares

Yesterday, a Director at Progressive (PGR), Stuart Burgdoerfer, sold shares of PGR for $1.65M.

This is Burgdoerfer’s first transaction since reporting a Sell transaction on LB back in March 2018

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Based on Progressive’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $10.97 billion and quarterly net profit of $1.79 billion. In comparison, last year the company earned revenue of $9.44 billion and had a net profit of $979 million. PGR’s market cap is $55.03 billion and the company has a P/E ratio of 12.40.

Based on 10 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $97.30, reflecting a -3.3% downside.

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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. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The Other Indemnity segment manages run-off businesses. The company was founded in 1965 and is headquartered in Mayfield Village, OH.

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