Daymark Wealth Partners LLC Lowers Stock Holdings in The Progressive Co. (NYSE:PGR)

Daymark Wealth Partners LLC lowered its position in shares of The Progressive Co. (NYSE:PGR) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,974 shares of the insurance provider’s stock after selling 2,199 shares during the period. Progressive accounts for about 1.4% of Daymark Wealth Partners LLC’s holdings, making the stock its 18th biggest position. Daymark Wealth Partners LLC’s holdings in Progressive were worth $41,686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its holdings in shares of Progressive by 98.2% in the fourth quarter. Versant Capital Management Inc now owns 789 shares of the insurance provider’s stock worth $189,000 after purchasing an additional 391 shares during the period. Townsquare Capital LLC increased its stake in Progressive by 90.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,813 shares of the insurance provider’s stock worth $1,983,000 after acquiring an additional 3,720 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Progressive by 84.3% in the 3rd quarter. Diversified Trust Co now owns 25,738 shares of the insurance provider’s stock valued at $6,531,000 after acquiring an additional 11,770 shares in the last quarter. Sycomore Asset Management boosted its position in shares of Progressive by 9.5% during the 2nd quarter. Sycomore Asset Management now owns 28,128 shares of the insurance provider’s stock valued at $5,856,000 after acquiring an additional 2,450 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Progressive by 7.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,067,924 shares of the insurance provider’s stock worth $1,286,036,000 after purchasing an additional 330,667 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of NYSE:PGR opened at $240.64 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $249.42 and a 200-day moving average price of $243.16. The company has a market cap of $140.97 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 0.63 and a beta of 0.41. The Progressive Co. has a 12 month low of $169.57 and a 12 month high of $270.62.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders 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 of this dividend was Friday, January 10th. Progressive’s dividend payout ratio (DPR) is currently 2.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PGR shares. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America lifted their price objective on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Morgan Stanley reduced their target price on Progressive from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday. BMO Capital Markets dropped their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, TD Cowen increased their price objective on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.65.

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $238.66, for a total transaction of $2,386,600.00. Following the transaction, the chief financial officer now owns 282,958 shares in the company, valued at approximately $67,530,756.28. This represents a 3.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,938 shares of company stock worth $7,473,490. 0.34% of the stock is currently owned by insiders.

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.