A Director at Progressive (NYSE: PGR) is Buying Shares

By Carrie Williams

Today, a Director at Progressive (NYSE: PGR), Barbara Snyder, bought shares of PGR for $8,624.

This is Snyder’s first transaction since reporting a Buy transaction on KEY back in February 2016 Following this transaction Barbara Snyder’s holding in the company was increased by 1.12% to a total of $764.1K.

Based on Progressive’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $7.12 billion and quarterly net profit of $576 million. In comparison, last year the company earned revenue of $6.15 billion and had a net profit of $383 million. The company has a one-year high of $58.25 and a one-year low of $37.29. PGR’s market cap is $30.47B and the company has a P/E ratio of 19.26.

11 different firms, including Barclays and Citigroup, currently also have a Buy rating on the stock. Based on 10 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $57.75, reflecting a -9.8% downside.

The insider sentiment on Progressive has been negative according to 67 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Barbara Snyder’s trades have generated a 48.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Progressive Corp. is specialized in insurance products primarily related to motor vehicles. It offers insurance solutions for personal and commercial property casualty. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.