Bank of New York Mellon Corp Sells 67,904 Shares of The Progressive Corporation $PGR

Bank of New York Mellon Corp decreased its stake in The Progressive Corporation (NYSE:PGR) by 2.2% during the 1st quarter, HoldingsChannel reports. The fund owned 3,023,558 shares of the insurance provider’s stock after selling 67,904 shares during the period. Bank of New York Mellon Corp’s holdings in Progressive were worth $599,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Illinois Municipal Retirement Fund raised its position in shares of Progressive by 28.3% during the first quarter. Illinois Municipal Retirement Fund now owns 114,669 shares of the insurance provider’s stock valued at $22,732,000 after buying an additional 25,259 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Progressive during the first quarter worth about $149,000. Sanctuary Advisors LLC increased its stake in Progressive by 2.8% during the first quarter. Sanctuary Advisors LLC now owns 85,240 shares of the insurance provider’s stock valued at $16,898,000 after acquiring an additional 2,322 shares during the period. Sigma Planning Corp raised its holdings in Progressive by 10.0% in the 1st quarter. Sigma Planning Corp now owns 2,454 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 224 shares in the last quarter. Finally, 1ST Source Bank raised its holdings in Progressive by 34.6% in the 1st quarter. 1ST Source Bank now owns 1,608 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

Shares of PGR stock opened at $206.14 on Friday. The stock’s fifty day simple moving average is $208.49 and its 200 day simple moving average is $206.49. The Progressive Corporation has a one year low of $189.20 and a one year high of $254.93. The firm has a market cap of $120.46 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 3.85 and a beta of 0.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.37 earnings per share. On average, analysts expect that The Progressive Corporation will post 17.41 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio is presently 2.03%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PGR shares. BMO Capital Markets decreased their price objective on Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday. Royal Bank Of Canada set a $208.00 target price on Progressive in a research note on Friday, May 22nd. Evercore set a $240.00 target price on Progressive in a research report on Friday, July 10th. Wells Fargo & Company decreased their price target on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $250.00 price target on shares of Progressive in a report on Tuesday. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Progressive has an average rating of “Hold” and an average price target of $235.05.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported Q2 earnings above estimates and continued to expand its business, with net premiums written up 5% for the quarter and total policies in force up 7% year over year. Progressive Reports June 2026 Results
• Positive Sentiment: Analysts at Bank of America still rate PGR a buy, even after trimming their price target, suggesting Wall Street still sees meaningful upside from current levels. Benzinga report on Bank of America price target cut
• Neutral Sentiment: Several research firms lowered price targets after the quarter, but most kept market-perform or equivalent ratings, indicating cautious sentiment rather than a strong bearish call. Progressive Analysts Slash Their Forecasts After Q2 Results
• Negative Sentiment: Net income fell 31% in June and the combined ratio worsened, raising concerns that underwriting margins are under pressure in a softer, more competitive insurance environment. Reuters report on quarterly profit and auto insurance demand
• Negative Sentiment: Other commentary highlighted that shares sold off after the earnings release because investors were disappointed by margin concerns and weaker-than-expected profit quality despite the top-line growth. Seeking Alpha news on Q2 results

Insider Buying and Selling

In related news, insider Steven Broz sold 1,157 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider owned 27,511 shares in the company, valued at $5,633,152.36. This trade represents a 4.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of Progressive stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the transaction, the insider directly owned 41,290 shares of the company’s stock, valued at $8,258,000. This represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,230 shares of company stock worth $3,165,817 in the last quarter. 0.32% of the stock is owned by corporate 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.