Catalyst Financial Partners LLC Decreases Stake in The Progressive Co. (NYSE:PGR)

Catalyst Financial Partners LLC lessened its stake in shares of The Progressive Co. (NYSE:PGR) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,662 shares of the insurance provider’s stock after selling 92 shares during the period. Catalyst Financial Partners LLC’s holdings in Progressive were worth $1,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Davis Capital Management acquired a new position in shares of Progressive in the 3rd quarter valued at $25,000. WR Wealth Planners LLC increased its holdings in shares of Progressive by 119.6% in the second quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 67 shares during the period. DiNuzzo Private Wealth Inc. boosted its holdings in Progressive by 114.1% in the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. Hilltop National Bank grew its position in Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 92 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Progressive during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Price Performance

Shares of PGR opened at $243.02 on Thursday. The firm has a market capitalization of $142.33 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.67 and a beta of 0.35. The firm’s fifty day simple moving average is $250.80 and its 200-day simple moving average is $226.29. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, October 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, October 3rd. Progressive’s dividend payout ratio is presently 2.91%.

Insiders Place Their Bets

In related news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $252.28, for a total transaction of $549,970.40. Following the completion of the sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the completion of the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dyke Kahina Van sold 2,180 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the sale, the director now directly owns 13,723 shares of the company’s stock, valued at $3,462,038.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock valued at $18,674,912 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Barclays lifted their target price on shares of Progressive from $267.00 to $277.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Bank of America upped their price target on shares of Progressive from $319.00 to $331.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI lifted their price objective on Progressive from $243.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.19.

About Progressive

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.