The Progressive Corporation $PGR is LFL Advisers LLC’s 7th Largest Position

LFL Advisers LLC raised its position in The Progressive Corporation (NYSE:PGR) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 121,251 shares of the insurance provider’s stock after buying an additional 3,160 shares during the quarter. Progressive accounts for 10.4% of LFL Advisers LLC’s holdings, making the stock its 7th biggest position. LFL Advisers LLC’s holdings in Progressive were worth $29,943,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PGR. Vanguard Group Inc. increased its holdings in Progressive by 0.3% in the third quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider’s stock valued at $13,500,146,000 after buying an additional 151,240 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Progressive by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 15,513,188 shares of the insurance provider’s stock worth $4,128,055,000 after acquiring an additional 301,371 shares in the last quarter. Capital International Investors increased its holdings in shares of Progressive by 78.9% in the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock valued at $3,384,082,000 after acquiring an additional 6,045,732 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after acquiring an additional 2,314,864 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in 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 purchasing an additional 2,709,417 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive is expanding its market presence in North America, which supports longer-term premium growth and distribution reach. Progressive Insurance Expands Market Presence In North America
• Positive Sentiment: Bank of America kept a Buy stance while slightly trimming its price target (from $315 to $308), which signals continued analyst confidence in the company’s longer-term earnings power despite near-term headwinds. Bank of America PT Cut
• Positive Sentiment: Progressive announced a small quarterly dividend (record April 2; payable April 10). While the yield is modest, the payout and prior special dividends highlight management’s willingness to return capital, which can support income-oriented holders. Progressive Dividend Announcement
• Positive Sentiment: Featured investor commentary continues to highlight Progressive as a high-conviction, dividend-oriented name due to strong underwriting, data advantages and market-share resilience. (This bolsters buy-side narratives even as growth moderates.) Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: A recent analysis notes Progressive’s fundamentals remain intact but growth is moderating, which helps explain mixed near-term sentiment: profitable and well-capitalized, but with slower top-line momentum. Progressive: Moderating Growth But Intact Fundamentals
• Neutral Sentiment: Note: a press item about Progressive Planet (ticker PLAN) releasing low-carbon cement is unrelated to PGR and can cause ticker confusion in headlines. Progressive Planet Unveils Low-Carbon LCD Cement
• Negative Sentiment: BMO Capital Markets cut its price target to $208 and moved to a “market perform” rating, increasing near-term downside risk perception and likely contributing to selling pressure. BMO Lowers PT to $208
• Negative Sentiment: Insider selling: Chief Accounting Officer Carl Joyce disclosed a sale (141 shares) and another recent insider (Karen Bailo) sold shares — small transactions but they can weigh on sentiment when paired with analyst caution. Carl Joyce Form 4 Karen Bailo Sale

Wall Street Analyst Weigh In

Several equities analysts have commented on PGR shares. Keefe, Bruyette & Woods increased their price target on shares of Progressive from $225.00 to $232.00 and gave the company a “market perform” rating in a research note on Thursday, February 19th. Citigroup lowered their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Wells Fargo & Company decreased their price objective on shares of Progressive from $220.00 to $214.00 and set an “equal weight” rating for the company in a research note on Thursday, February 19th. Finally, William Blair lowered Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $241.94.

Progressive Stock Down 2.8%

Shares of NYSE:PGR opened at $201.19 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $117.88 billion, a P/E ratio of 10.46, a P/E/G ratio of 9.00 and a beta of 0.33. The Progressive Corporation has a 1-year low of $197.92 and a 1-year high of $292.99. The firm has a fifty day moving average price of $207.56 and a 200 day moving average price of $223.03.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s payout ratio is 2.08%.

Insider Activity

In other news, insider Maribel Pumarejo sold 739 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 2,266 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $203.05, for a total transaction of $460,111.30. Following the transaction, the executive directly owned 26,250 shares of the company’s stock, valued at $5,330,062.50. This represents a 7.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,761 shares of company stock worth $2,659,420 over the last quarter. 0.34% of the stock is owned by insiders.

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.