Cyndeo Wealth Partners LLC Has $2.67 Million Stock Holdings in The Progressive Co. (NYSE:PGR)

Cyndeo Wealth Partners LLC increased its stake in shares of The Progressive Co. (NYSE:PGR) by 11.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,148 shares of the insurance provider’s stock after buying an additional 1,145 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Progressive were worth $2,671,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in Progressive during the 3rd quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. boosted its stake in Progressive by 114.1% during the third quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 73 shares in the last quarter. Kimelman & Baird LLC bought a new position in Progressive during the second quarter worth $36,000. Friedenthal Financial bought a new position in Progressive during the third quarter worth $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Progressive during the third quarter worth $49,000. 85.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PGR. Morgan Stanley lowered their price objective on shares of Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Progressive from $251.00 to $256.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Hsbc Global Res lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group raised their price objective on shares of Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, HSBC downgraded shares of Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.65.

Insider Activity at Progressive

In other news, CEO Susan Patricia Griffith sold 9,066 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $2,194,878.60. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at approximately $114,691,485.60. The trade was a 1.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,506 shares of company stock worth $10,531,159 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Progressive Stock Down 0.4 %

Shares of NYSE PGR opened at $238.58 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Progressive Co. has a 52 week low of $175.50 and a 52 week high of $270.62. The firm’s fifty day moving average is $248.27 and its 200 day moving average is $243.31. The company has a market cap of $139.76 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.62 and a beta of 0.41.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

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.