Primecap Management Co. CA Sells 73,790 Shares of The Progressive Corporation $PGR

Primecap Management Co. CA lessened its position in The Progressive Corporation (NYSE:PGR) by 5.5% during the third quarter, Holdings Channel reports. The fund owned 1,265,690 shares of the insurance provider’s stock after selling 73,790 shares during the period. Primecap Management Co. CA’s holdings in Progressive were worth $312,562,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Progressive by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider’s stock worth $13,500,146,000 after purchasing an additional 151,240 shares in the last quarter. Geode Capital Management LLC lifted its position in Progressive by 2.0% in 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 buying an additional 301,371 shares during the last quarter. Alliancebernstein L.P. lifted its position in Progressive by 32.8% in the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after buying an additional 2,709,417 shares during the last quarter. Norges Bank purchased a new stake in Progressive in the second quarter worth approximately $2,156,939,000. Finally, Charles Schwab Investment Management Inc. grew its position in Progressive by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,129,069 shares of the insurance provider’s stock valued at $1,101,883,000 after acquiring an additional 42,909 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive will host an Investor Relations event on March 3 (45-minute presentation on capital & investments, followed by Q&A with the CEO and CFO); Progressive will file its Form 10‑K on March 2 — a near-term transparency event that could reset expectations. Progressive Announces Investor Relations Event
• Neutral Sentiment: Industry/valuation narrative is shifting as analysts recalibrate fair value for PGR; coverage remains mixed (some trims to targets, some buys) — this is creating divergent guidance for the stock rather than a unanimous directional signal. How The Progressive (PGR) Narrative Is Shifting
• Negative Sentiment: BofA cut its price target on PGR to $315 from $329 (but kept a Buy rating) — a downgrade to the target reduces upside expectations and may weigh on sentiment. BofA Lowers its Price Target on The Progressive Corporation (PGR)
• Negative Sentiment: Insider selling: CIO Jonathan Bauer sold 2,266 shares (~$460k) on Feb. 23 and insider Maribel Pumarejo sold 739 shares (~$150k) on Feb. 24 — continued executive sales can pressure the stock and signal liquidity-taking by insiders. Progressive (NYSE:PGR) CIO Sells $460,111.30 in Stock
• Negative Sentiment: Institutional reshuffling: recent large reductions (e.g., UBS AM and FMR trimming Q4 positions) indicate some major holders are cutting exposure — this can amplify downside pressure until fresh buying appears. The Progressive Corporation to Host Investor Relations Event on March 3, 2026

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PGR shares. HSBC lowered shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Bank of America decreased their target price on shares of Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Morgan Stanley lowered their price target on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating for the company in a research note on Wednesday, January 28th. Barclays upgraded shares of Progressive from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $257.00 to $265.00 in a research report on Thursday, January 8th. Finally, BMO Capital Markets decreased their price objective on Progressive from $239.00 to $232.00 and set a “market perform” rating on the stock in a report on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $244.71.

Progressive Stock Performance

Shares of NYSE:PGR opened at $204.35 on Thursday. The company has a market cap of $119.83 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 8.99 and a beta of 0.32. The company has a 50-day moving average price of $211.04 and a 200-day moving average price of $225.72. The company has a current ratio of 0.38, a quick ratio of 0.29 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 12 month low of $197.92 and a 12 month high of $292.99.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were issued a $0.10 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.08%.

Insider Transactions at Progressive

In related news, insider Maribel Pumarejo sold 739 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Broz sold 1,344 shares of Progressive stock in a transaction on Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the sale, the insider owned 26,354 shares in the company, valued at approximately $5,924,379.20. This trade represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 14,103 shares of company stock worth $3,026,324. Corporate insiders own 0.34% 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.