Strs Ohio Has $41.92 Million Stake in The Progressive Corporation $PGR

Strs Ohio lowered its holdings in shares of The Progressive Corporation (NYSE:PGR) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,742 shares of the insurance provider’s stock after selling 4,388 shares during the quarter. Strs Ohio’s holdings in Progressive were worth $41,918,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PGR. Vanguard Group Inc. increased its stake in Progressive by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 54,516,288 shares of the insurance provider’s stock worth $14,548,217,000 after purchasing an additional 493,332 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Progressive by 2.0% in the second quarter. Geode Capital Management LLC now owns 15,513,188 shares of the insurance provider’s stock valued at $4,128,055,000 after buying an additional 301,371 shares during the period. Alliancebernstein L.P. increased its position in shares of Progressive by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after acquiring an additional 2,709,417 shares in the last quarter. Norges Bank acquired a new stake in shares of Progressive during the second quarter worth $2,156,939,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Progressive by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,129,069 shares of the insurance provider’s stock worth $1,101,883,000 after acquiring an additional 42,909 shares during the period. Institutional investors own 85.34% of the company’s stock.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive showed relative strength versus the broader market in the latest session, which can support short?term buying interest ahead of earnings. Progressive (PGR) Beats Stock Market Upswing: What Investors Need to Know
• Neutral Sentiment: Q4 earnings preview: analysts expect earnings growth, but the Zacks preview flags items beyond headline EPS — underwriting trends, combined ratio and pricing momentum will determine whether Progressive delivers a beat or conservative guidance. This makes the print a binary near?term catalyst. Progressive (PGR) Q4 Earnings Preview
• Neutral Sentiment: Valuation/strategy check: a Yahoo Finance piece questions whether Progressive’s long?term growth is being priced appropriately after the recent pullback — useful context for value investors given PGR’s relatively low P/E (~11) but shorter?term technical weakness (50?day < 200?day MA). Is Progressive (PGR) Pricing Its Long Term Growth Potential Correctly After Recent Pullback
• Negative Sentiment: Competitive threat — Lemonade’s new partnership with Tesla to offer steep discounts on FSD miles creates a potential pricing innovation that could win lower?loss, tech?savvy customers and put pressure on legacy insurers’ pricing and margins if scaled. This raises longer?term competitive risk for Progressive’s auto franchise. Lemonade’s Tesla Deal Could Rewrite How Auto Insurance Is Priced
• Negative Sentiment: Insider selling: recent open?market sales by CIO Jonathan Bauer and Andrew Quigg were disclosed (multiple transactions at ~\$204/share). While not huge relative to company size, clustered insider sales ahead of earnings can be perceived negatively by some investors. Progressive Insider Sells
• Negative Sentiment: Analyst/expectations risk: several firms have trimmed price targets or kept neutral/underweight calls; Zacks flags that while growth is expected, there may be limited obvious upside from an earnings?beat narrative, so a miss or cautious guidance could drive further downside. Progressive (PGR) Reports Next Week

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Wells Fargo & Company reduced their price objective on Progressive from $242.00 to $240.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Raymond James Financial decreased their price objective on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. The Goldman Sachs Group set a $227.00 target price on Progressive in a research note on Wednesday, January 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of Progressive in a research report on Wednesday, December 17th. Seven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $259.39.

Progressive Stock Performance

PGR opened at $206.04 on Friday. The business’s 50-day simple moving average is $221.22 and its 200 day simple moving average is $232.28. The Progressive Corporation has a 52-week low of $198.50 and a 52-week high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $120.82 billion, a PE ratio of 11.30, a PEG ratio of 1.26 and a beta of 0.34.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Friday, January 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio is presently 2.19%.

Insider Activity

In other news, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares of the company’s stock, valued at $5,363,983.15. This trade represents a 10.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John P. Sauerland sold 5,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the transaction, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,788 shares of company stock valued at $3,018,961 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Progressive Profile

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.