Gryphon Financial Partners LLC Has $446,000 Stock Holdings in The Progressive Co. (NYSE:PGR)

Gryphon Financial Partners LLC lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 33.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,863 shares of the insurance provider’s stock after selling 940 shares during the period. Gryphon Financial Partners LLC’s holdings in Progressive were worth $446,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PGR. Chicago Partners Investment Group LLC raised its holdings in Progressive by 17.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,308 shares of the insurance provider’s stock valued at $323,000 after acquiring an additional 191 shares in the last quarter. BSW Wealth Partners raised its holdings in Progressive by 75.3% in the 3rd quarter. BSW Wealth Partners now owns 2,067 shares of the insurance provider’s stock valued at $524,000 after acquiring an additional 888 shares in the last quarter. TrueWealth Advisors LLC acquired a new position in Progressive in the 3rd quarter valued at approximately $221,000. Robeco Institutional Asset Management B.V. raised its holdings in Progressive by 13.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 301,917 shares of the insurance provider’s stock valued at $76,614,000 after acquiring an additional 35,800 shares in the last quarter. Finally, KG&L Capital Management LLC raised its holdings in Progressive by 31.1% in the 3rd quarter. KG&L Capital Management LLC now owns 2,219 shares of the insurance provider’s stock valued at $563,000 after acquiring an additional 527 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Up 1.0 %

NYSE PGR opened at $284.95 on Tuesday. The firm has a market cap of $166.93 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.70 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $251.13 and its 200 day simple moving average is $251.57. The Progressive Co. has a one year low of $187.32 and a one year high of $285.28.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. As a group, sell-side analysts forecast that The Progressive Co. will post 14.68 earnings per share for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 9th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.14%. Progressive’s payout ratio is 2.78%.

Insider Buying and Selling at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the completion of the sale, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction on Friday, February 28th. The stock was sold at an average price of $279.94, for a total value of $2,799,400.00. Following the sale, the chief financial officer now directly owns 269,566 shares of the company’s stock, valued at approximately $75,462,306.04. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,361 shares of company stock worth $14,102,075. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

PGR has been the subject of several recent research reports. Raymond James raised Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price for the company. in a report on Tuesday, December 10th. Evercore ISI increased their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets dropped their target price on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company increased their target price on Progressive from $313.00 to $317.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Progressive has an average rating of “Moderate Buy” and a consensus price target of $277.59.

Progressive Company 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.