Levin Capital Strategies L.P. Sells 6,313 Shares of The Progressive Corporation $PGR

Levin Capital Strategies L.P. decreased its stake in shares of The Progressive Corporation (NYSE:PGR) by 17.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 29,334 shares of the insurance provider’s stock after selling 6,313 shares during the period. Levin Capital Strategies L.P.’s holdings in Progressive were worth $5,815,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Allstate Corp raised its position in shares of Progressive by 106.1% in the fourth quarter. Allstate Corp now owns 44,513 shares of the insurance provider’s stock valued at $10,136,000 after purchasing an additional 22,915 shares during the period. Norges Bank bought a new stake in shares of Progressive during the 4th quarter worth $1,836,094,000. Investment House LLC bought a new stake in shares of Progressive during the 4th quarter worth $8,447,000. Sumitomo Mitsui Trust Group Inc. grew its stake in Progressive by 5.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock valued at $411,506,000 after buying an additional 97,275 shares during the last quarter. Finally, Van Cleef Asset Management Inc grew its stake in Progressive by 1.2% in the 4th quarter. Van Cleef Asset Management Inc now owns 761,587 shares of the insurance provider’s stock valued at $173,429,000 after buying an additional 9,017 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PGR has been the subject of a number of research analyst reports. Mizuho boosted their target price on shares of Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wells Fargo & Company lowered their price target on Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a research report on Thursday, July 16th. UBS Group lifted their price objective on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. William Blair reissued a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Finally, Weiss Ratings downgraded Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $235.05.

Progressive Stock Down 0.6%

Shares of PGR opened at $204.57 on Thursday. The company has a 50-day simple moving average of $209.39 and a 200-day simple moving average of $205.90. The firm has a market capitalization of $119.54 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.77 and a beta of 0.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.32. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s payout ratio is currently 2.01%.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to bundle RV insurance solutions with Winnebago’s vehicles, which could strengthen customer acquisition, expand its RV insurance business, and support cross-selling opportunities. Article Title
• Positive Sentiment: The company also secured a jersey sponsorship with Cleveland’s future WNBA team, giving Progressive another brand-visibility win and reinforcing its marketing reach. Article Title
• Neutral Sentiment: Research firm DOWLING & PARTN lowered its FY2028 EPS estimate for Progressive to $15.88, below the current consensus of $17.55, which may reinforce investor caution around future earnings growth. Article Title
• Neutral Sentiment: Some broader market commentary continues to note that Progressive’s EPS growth may not be fully reflected in the share price, suggesting investors still see upside potential but are waiting for more proof. Article Title
• Negative Sentiment: Compared with peers, Travelers’ strong earnings-driven rally may be drawing attention to underwriting execution in the property-casualty sector, which could make investors more selective on Progressive until it shows similarly strong results. Article Title

Insider Activity at Progressive

In other Progressive news, Director Jeffrey D. Kelly sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the transaction, the director owned 22,546 shares of the company’s stock, valued at $4,877,376.18. This represents a 23.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares of the company’s stock, valued at $8,258,000. This represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,230 shares of company stock worth $3,165,817 over the last three months. Company insiders own 0.32% 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.