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

Cardiff Park Advisors LLC raised its holdings in shares of The Progressive Corporation (NYSE:PGR) by 339.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,885 shares of the insurance provider’s stock after purchasing an additional 3,000 shares during the quarter. Cardiff Park Advisors LLC’s holdings in Progressive were worth $770,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PGR. Brighton Jones LLC grew its position in Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after acquiring an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Progressive in the fourth quarter worth $269,000. Bison Wealth LLC lifted its position in shares of Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the last quarter. HUB Investment Partners LLC boosted its stake in shares of Progressive by 7.8% during the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after purchasing an additional 166 shares during the period. Finally, Diversify Wealth Management LLC boosted its stake in shares of Progressive by 12.0% during the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after purchasing an additional 1,622 shares during the period. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Up 0.0%

Shares of Progressive stock opened at $213.85 on Monday. 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 has a market cap of $124.96 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 2.88 and a beta of 0.26. The firm’s 50-day moving average is $209.88 and its two-hundred day moving average is $205.87. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $254.93.

Progressive Dividend Announcement

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

Analysts Set New Price Targets

PGR has been the topic of several recent analyst reports. Royal Bank Of Canada set a $208.00 price target on shares of Progressive in a research note on Friday, May 22nd. Morgan Stanley raised shares of Progressive from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $190.00 to $210.00 in a research report on Friday. BMO Capital Markets dropped their target price on shares of Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, July 16th. William Blair reaffirmed a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Finally, Evercore set a $240.00 price target on shares of Progressive in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $236.11.

Insider Activity

In other Progressive news, insider Steven Broz sold 1,157 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider owned 27,511 shares in the company, valued at $5,633,152.36. This represents 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 at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider directly owned 41,290 shares in the company, valued at $8,258,000. This trade represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,230 shares of company stock worth $3,165,817. Corporate insiders own 0.32% of the company’s stock.

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.