Catalyst Financial Partners LLC Sells 92 Shares of The Progressive Co. (NYSE:PGR)

Catalyst Financial Partners LLC cut its stake in shares of The Progressive Co. (NYSE:PGR) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,662 shares of the insurance provider’s stock after selling 92 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in PGR. Cornerstone Wealth Group LLC bought a new stake in shares of Progressive during the 3rd quarter valued at $232,000. Oak Harvest Investment Services purchased a new position in Progressive during the third quarter valued at $6,752,000. SteelPeak Wealth LLC increased its holdings in Progressive by 739.9% in the 3rd quarter. SteelPeak Wealth LLC now owns 8,693 shares of the insurance provider’s stock valued at $2,206,000 after acquiring an additional 7,658 shares during the last quarter. Sunburst Financial Group LLC purchased a new stake in Progressive in the 3rd quarter worth $204,000. Finally, Diversify Wealth Management LLC bought a new position in shares of Progressive during the 3rd quarter valued at about $3,251,000. Institutional investors own 85.34% of the company’s stock.

Progressive Trading Up 0.6 %

Shares of NYSE PGR opened at $243.02 on Thursday. The Progressive Co. has a twelve month low of $149.14 and a twelve month high of $260.46. The firm has a market cap of $142.33 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35. The business has a fifty day simple moving average of $250.80 and a two-hundred day simple moving average of $226.29. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors 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 (DPR) is presently 2.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PGR shares. StockNews.com raised Progressive from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Piper Sandler upped their target price on shares of Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. BMO Capital Markets dropped their price target on Progressive from $239.00 to $237.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Hsbc Global Res raised Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Evercore ISI boosted their target price on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a research 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 stock. According to data from MarketBeat, Progressive currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.19.

Insiders Place Their Bets

In other news, insider Steven Broz sold 6,122 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the sale, the insider now owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Steven Broz sold 6,122 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $235.19, for a total value of $1,439,833.18. Following the completion of the transaction, the insider now directly owns 32,316 shares of the company’s stock, valued at approximately $7,600,400.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Jo Murphy sold 9,512 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $237.50, for a total value of $2,259,100.00. Following the sale, the insider now directly owns 45,787 shares in the company, valued at approximately $10,874,412.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $18,674,912 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Progressive Profile

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.