Atria Wealth Solutions Inc. Sells 9,301 Shares of The Progressive Co. (NYSE:PGR)

Atria Wealth Solutions Inc. decreased its stake in The Progressive Co. (NYSE:PGR - Free Report) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,876 shares of the insurance provider's stock after selling 9,301 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Progressive were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of Progressive by 5.0% in the fourth quarter. Venturi Wealth Management LLC now owns 63,128 shares of the insurance provider's stock worth $15,126,000 after acquiring an additional 2,989 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Progressive by 0.8% in the fourth quarter. D.A. Davidson & CO. now owns 17,741 shares of the insurance provider's stock worth $4,251,000 after acquiring an additional 149 shares in the last quarter. Citizens & Northern Corp bought a new stake in shares of Progressive in the fourth quarter worth about $222,000. Empower Advisory Group LLC increased its holdings in shares of Progressive by 9,038.5% in the fourth quarter. Empower Advisory Group LLC now owns 241,714 shares of the insurance provider's stock worth $57,917,000 after acquiring an additional 239,069 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Progressive by 7.3% in the fourth quarter. Truist Financial Corp now owns 337,841 shares of the insurance provider's stock worth $80,950,000 after acquiring an additional 22,885 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Insider Buying and Selling

In other news, CFO John P. Sauerland sold 10,000 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now directly owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the company's stock in a transaction dated Friday, January 3rd. The stock was 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 $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,361 shares of company stock worth $13,983,575 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Progressive Trading Up 0.0 %

Shares of PGR traded up $0.04 during mid-day trading on Friday, reaching $267.71. 1,065,818 shares of the company were exchanged, compared to its average volume of 2,459,854. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $270.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a market capitalization of $156.82 billion, a PE ratio of 18.59, a PEG ratio of 0.68 and a beta of 0.42. The business has a 50 day simple moving average of $246.61 and a two-hundred day simple moving average of $248.49.

Progressive (NYSE:PGR - Get Free Report) 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%. On average, analysts predict that The Progressive Co. will post 14.5 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.15%. The ex-dividend date was Friday, January 10th. Progressive's payout ratio is 2.78%.

Analysts Set New Price Targets

PGR has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Progressive from $251.00 to $256.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. Barclays increased their price objective on Progressive from $261.00 to $264.00 and gave the stock an "equal weight" rating in a report on Tuesday. Morgan Stanley increased their price objective on Progressive from $300.00 to $307.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. BMO Capital Markets decreased their price objective on Progressive from $273.00 to $267.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Finally, HSBC cut Progressive from a "buy" rating to a "hold" rating and set a $267.00 price objective 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.12.

About Progressive

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.