The Progressive Corporation declared a $4.50 annual and $0.10 quarterly dividend, payable January 16, 2025.
Quiver AI Summary
The Progressive Corporation's Board of Directors declared an annual dividend of $4.50 per share and a quarterly dividend of $0.10 per share on December 6, 2024. Both dividends are set to be payable on January 16, 2025, to shareholders recorded by the close of business on January 9, 2025. The annual dividend reflects the company's capital position and future capital needs, with expectations to continue declaring quarterly dividends in 2025. Additionally, the record date for the upcoming Annual Meeting of Shareholders is set for March 14, 2025, with the meeting scheduled for May 9, 2025. Progressive Insurance is a prominent provider of various insurance products and services in the U.S., offering flexibility in how customers can access their services.
Potential Positives
- The declaration of a substantial annual common share dividend of $4.50 per share reflects the company's strong capital position and financial health.
- The ongoing commitment to quarterly dividends signals to investors that the company is dedicated to returning value to its shareholders.
- Setting a record date for the upcoming Annual Meeting of Shareholders demonstrates the company's ongoing engagement with its shareholders and governance transparency.
Potential Negatives
- The announcement of dividends may indicate limited capital availability for reinvestment in growth opportunities, which could raise concerns among investors about future expansion and innovation.
- Setting the dividends at this level could be perceived as a lack of confidence in the company's future earnings potential, potentially leading to share price volatility.
- The decision to continue dividends in 2025 may prioritize shareholder returns over strategic investments that could enhance long-term value, raising questions about the company's growth strategy.
FAQ
What is the amount of the declared dividend for Progressive Corporation?
The Board of Directors declared an annual dividend of $4.50 per share and a quarterly dividend of $0.10 per share.
When will the dividends be payable to shareholders?
Both the annual and quarterly dividends are payable on January 16, 2025, to shareholders of record at the close of business on January 9, 2025.
What factors influenced the annual dividend amount for 2024?
The annual dividend amount was determined based on the company's capital position, existing capital resources, and expected current and future capital needs.
When is the Annual Meeting of Shareholders scheduled?
The Annual Meeting of Shareholders will be held on May 9, 2025, with a record date of March 14, 2025.
Where can I find more information about Progressive insurance products?
More information can be found on Progressive's website at progressive.com or by contacting their customer service.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PGR Congressional Stock Trading
Members of Congress have traded $PGR stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here's a breakdown of recent trading of $PGR stock by members of Congress over the last 6 months:
- REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 06/21.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$PGR Insider Trading Activity
$PGR insiders have traded $PGR stock on the open market 23 times in the past 6 months. Of those trades, 0 have been purchases and 23 have been sales.
Here's a breakdown of recent trading of $PGR stock by insiders over the last 6 months:
- JOHN P SAUERLAND (VP and Chief Financial Officer) has traded it 3 times. They made 0 purchases and 3 sales, selling 42,708 shares.
- STEVEN BROZ (Chief Information Officer) has traded it 5 times. They made 0 purchases and 5 sales, selling 18,185 shares.
- DYKE KAHINA VAN sold 2,180 shares.
- PATRICK K CALLAHAN (Personal Lines President) has traded it 3 times. They made 0 purchases and 3 sales, selling 23,323 shares.
- SUSAN PATRICIA GRIFFITH (President and CEO) has traded it 2 times. They made 0 purchases and 2 sales, selling 86,741 shares.
- JOHN JO MURPHY (Claims President) sold 9,512 shares.
- ANDREW J QUIGG (Chief Strategy Officer) sold 3,975 shares.
- JONATHAN S. BAUER (Chief Investment Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 4,514 shares.
- LORI A NIEDERST (CRM President) sold 9,507 shares.
- KAREN BAILO (Commercial Lines President) sold 7,882 shares.
- ROGER N FARAH sold 5,039 shares.
- PHILIP BLESER sold 2,129 shares.
- MARIANN WOJTKUN MARSHALL (Chief Accounting Officer) sold 650 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PGR Hedge Fund Activity
We have seen 851 institutional investors add shares of $PGR stock to their portfolio, and 694 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GQG PARTNERS LLC added 3,085,668 shares (+inf%) to their portfolio in Q3 2024
- CAPITAL RESEARCH GLOBAL INVESTORS added 2,500,350 shares (+124.4%) to their portfolio in Q3 2024
- BANK OF AMERICA CORP /DE/ removed 2,498,898 shares (-14.7%) from their portfolio in Q3 2024
- GEODE CAPITAL MANAGEMENT, LLC added 1,682,213 shares (+13.2%) to their portfolio in Q3 2024
- APG ASSET MANAGEMENT N.V. removed 1,680,047 shares (-88.9%) from their portfolio in Q3 2024
- D. E. SHAW & CO., INC. removed 1,401,652 shares (-57.7%) from their portfolio in Q3 2024
- UBS ASSET MANAGEMENT AMERICAS LLC added 1,181,986 shares (+33.2%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MAYFIELD VILLAGE, OHIO, Dec. 09, 2024 (GLOBE NEWSWIRE) -- On December 6, 2024, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared an annual common share dividend, in the amount of $4.50 per share, and a quarterly common share dividend, in the amount of $0.10 per share.
Both the annual and quarterly dividends are payable January 16, 2025, to shareholders of record at the close of business on January 9, 2025. The annual dividend amount for 2024 was determined by the Board based on our capital position, existing capital resources, and expected current and future capital needs. The Board is expected to continue to declare quarterly dividends for 2025.
The Board also set the close of business on March 14, 2025, as the record date for the determination of shareholders entitled to notice of, and to vote at, Progressive's Annual Meeting of Shareholders, which will be held on May 9, 2025.
About Progressive
Progressive Insurance
makes it easy to understand, buy and use
car insurance
,
home insurance
, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them — online at
progressive.com
, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of
commercial
auto,
motorcycle
, and
boat
insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price
, Snapshot
, and HomeQuote Explorer
.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.
Company Contact:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
