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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Progressive by 1.3% during the third quarter. State Street Corp now owns 24,683,807 shares of the insurance provider’s stock valued at $6,263,763,000 after acquiring an additional 315,411 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Progressive by 13.2% during the third quarter. Geode Capital Management LLC now owns 14,425,792 shares of the insurance provider’s stock valued at $3,652,235,000 after buying an additional 1,682,213 shares during the period. FMR LLC increased its position in shares of Progressive by 1.6% during the third quarter. FMR LLC now owns 10,518,615 shares of the insurance provider’s stock valued at $2,669,204,000 after buying an additional 170,618 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 valued at $1,286,036,000 after buying an additional 330,667 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Progressive by 21.6% during the third quarter. Jennison Associates LLC now owns 4,749,628 shares of the insurance provider’s stock valued at $1,205,266,000 after buying an additional 842,109 shares during the period. 85.34% of the stock is owned by institutional investors.

Progressive Trading Up 2.2 %

NYSE:PGR opened at $269.71 on Thursday. The stock has a market cap of $158.00 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.66 and a beta of 0.42. The company’s 50 day moving average price is $246.11 and its 200-day moving average price is $248.36. The Progressive Co. has a 52 week low of $186.94 and a 52 week high of $270.79. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%. On average, equities research analysts forecast that The Progressive Co. will post 14.44 earnings per share for the current fiscal year.

Progressive Announces Dividend

The business also recently disclosed 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. 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 0.15%. Progressive’s dividend payout ratio (DPR) is 2.78%.

Insider Activity at Progressive

In other Progressive news, insider Andrew J. Quigg sold 681 shares of the 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 $164,870.10. Following the transaction, the insider now directly owns 33,612 shares in the company, valued at approximately $8,137,465.20. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 3,982 shares in the company, 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 have sold a total of 56,361 shares of company stock worth $13,983,575 over the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PGR shares. Raymond James upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research report on Thursday, December 26th. Barclays boosted their price target on shares of Progressive from $261.00 to $264.00 and gave the company an “equal weight” rating in a research report on Tuesday. TD Cowen boosted their price target on shares of Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets cut their price objective on shares of Progressive from $273.00 to $267.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Evercore ISI upped their price objective on shares of Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and an average price target of $275.88.

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.