iA Global Asset Management Inc. Buys 12,120 Shares of The Progressive Corporation $PGR

iA Global Asset Management Inc. raised its holdings in shares of The Progressive Corporation (NYSE:PGR) by 52.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,286 shares of the insurance provider’s stock after acquiring an additional 12,120 shares during the quarter. iA Global Asset Management Inc.’s holdings in Progressive were worth $8,714,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PGR. Allstate Corp lifted its position in Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after purchasing an additional 20,338 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Progressive by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock valued at $23,420,000 after buying an additional 1,192 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Progressive during the second quarter valued at approximately $306,000. Gateway Investment Advisers LLC raised its position in shares of Progressive by 91.7% during the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after buying an additional 5,600 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Progressive by 40.6% in the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock worth $4,159,000 after buying an additional 4,865 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PGR shares. Raymond James Financial cut their price target on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. UBS Group reduced their price target on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Evercore ISI dropped their price objective on shares of Progressive from $250.00 to $237.00 and set an “in-line” rating for the company in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a report on Monday, December 29th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Progressive in a research report on Wednesday, December 17th. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Progressive presently has a consensus rating of “Hold” and a consensus target price of $259.39.

Progressive Price Performance

PGR opened at $206.04 on Friday. The Progressive Corporation has a 12-month low of $198.50 and a 12-month high of $292.99. The business’s fifty day simple moving average is $221.22 and its 200-day simple moving average is $232.28. The company has a market capitalization of $120.82 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.26 and a beta of 0.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.19.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is presently 2.19%.

Insider Activity

In other Progressive news, CFO John P. Sauerland sold 5,000 shares of Progressive stock in a transaction on Friday, November 28th. The shares were sold at an average price of $228.48, for a total value of $1,142,400.00. Following the transaction, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at approximately $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of the company’s 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 transaction, the executive directly owned 26,249 shares in the company, valued at $5,363,983.15. This represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,788 shares of company stock valued at $3,018,961 in the last ninety days. 0.34% of the stock is currently owned by insiders.

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

About Progressive

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.