Richard Bernstein Advisors LLC Sells 2,528 Shares of The Progressive Corporation $PGR

Richard Bernstein Advisors LLC lessened its holdings in shares of The Progressive Corporation (NYSE:PGR) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,509 shares of the insurance provider’s stock after selling 2,528 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Progressive were worth $1,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Capital Management acquired a new position in Progressive during the 3rd quarter worth approximately $25,000. Ameriflex Group Inc. lifted its stake in Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Progressive in the second quarter valued at approximately $33,000. Howard Hughes Medical Institute bought a new position in Progressive during the second quarter worth $34,000. Finally, TruNorth Capital Management LLC grew its stake in Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock valued at $41,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Analyst / dividend bullishness — A Seeking Alpha piece highlights PGR as a high-conviction, dividend-friendly insurance pick, citing Progressive’s data-driven underwriting, market-share gains and attractive total yield — a constructive narrative for long-term investors. Seeking Alpha: Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: Bank of America lowered its price target from $315 to $308 but kept a “buy” rating — still signaling conviction but trimming upside expectations vs. prior targets. This is supportive but slightly less bullish than before. Benzinga: BofA price target update
• Neutral Sentiment: Quarterly dividend declared — Progressive announced a $0.10 quarterly common-share dividend (payable Apr. 10; record Apr. 2). The yield is small (~0.2%), so it’s a modest income signal rather than a major catalyst. GlobeNewswire: Dividend Announcement
• Neutral Sentiment: Unrelated company news — Progressive Planet Solutions (TSE: PLAN) unveiled low‑carbon cement and R&D expansion. This concerns a different firm (PLAN) and is not material to PGR’s insurance fundamentals. TipRanks: Progressive Planet product release
• Negative Sentiment: Insider selling — Two execs disclosed sales: CFO/CAO Carl Joyce sold 141 shares and senior executive Karen Bailo sold 3,517 shares (both at ~$212), reducing their stakes. Insider dispositions can create short-term selling pressure or signal profit-taking. SEC Form 4 (Carl Joyce) SEC Form 4 (Karen Bailo)
• Negative Sentiment: Recent price weakness — Coverage notes and market commentary flagged a recent intraday dip (PGR down vs. market gains), underscoring near-term volatility as analysts refine views. Zacks: Stock Dips While Market Gains

Insider Buying and Selling at Progressive

In related news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the completion of the transaction, the executive directly owned 26,249 shares of the company’s stock, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 12,761 shares of company stock worth $2,659,420. 0.33% of the stock is owned by corporate insiders.

Progressive Trading Up 0.0%

Shares of PGR stock opened at $206.90 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $121.23 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 9.00 and a beta of 0.33. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99. The company has a 50-day simple moving average of $208.09 and a two-hundred day simple moving average of $223.19.

Progressive Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PGR shares. Wells Fargo & Company lowered their price target on shares of Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. William Blair downgraded Progressive from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 18th. Keefe, Bruyette & Woods increased their target price on Progressive from $225.00 to $232.00 and gave the company a “market perform” rating in a research report on Thursday, February 19th. Roth Mkm set a $235.00 price target on Progressive in a research note on Thursday, February 19th. Finally, Mizuho set a $240.00 target price on Progressive in a research note on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $243.28.

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.