Cardiff Park Advisors LLC Buys 3,000 Shares of The Progressive Corporation $PGR

Cardiff Park Advisors LLC boosted its stake in shares of The Progressive Corporation (NYSE:PGR) by 339.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,885 shares of the insurance provider’s stock after acquiring an additional 3,000 shares during the period. Cardiff Park Advisors LLC’s holdings in Progressive were worth $770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bogart Wealth LLC boosted its holdings in shares of Progressive by 235.1% during the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Bard Associates Inc. purchased a new position in shares of Progressive during the fourth quarter valued at about $27,000. HHM Wealth Advisors LLC increased its holdings in shares of Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 126 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of Progressive in the fourth quarter worth about $29,000. Finally, Entrust Financial LLC purchased a new stake in shares of Progressive in the fourth quarter worth about $33,000. 85.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Progressive news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at $5,633,152.36. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the transaction, the insider owned 41,290 shares in the company, valued at $8,258,000. This trade represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,230 shares of company stock valued at $3,165,817. 0.32% of the stock is currently owned by insiders.

Progressive Trading Up 0.0%

Shares of PGR stock opened at $213.85 on Monday. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $254.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $209.88 and its two-hundred day simple moving average is $205.87. The company has a market cap of $124.96 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 2.88 and a beta of 0.26.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s payout ratio is currently 2.01%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PGR shares. Evercore set a $240.00 price target on Progressive in a report on Friday, July 10th. Weiss Ratings downgraded Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company cut their target price on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating for the company in a report on Thursday, July 16th. HSBC boosted their price target on shares of Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Finally, Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a research report on Friday, May 22nd. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $236.11.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.