The Progressive Corporation $PGR is LFL Advisers LLC’s 7th Largest Position

LFL Advisers LLC grew its holdings in The Progressive Corporation (NYSE:PGR) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,251 shares of the insurance provider’s stock after purchasing an additional 3,160 shares during the quarter. Progressive comprises approximately 10.4% of LFL Advisers LLC’s portfolio, making the stock its 7th largest holding. LFL Advisers LLC’s holdings in Progressive were worth $29,943,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Progressive by 0.3% in the third quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider’s stock valued at $13,500,146,000 after purchasing an additional 151,240 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $4,128,055,000 after buying an additional 301,371 shares in the last quarter. Capital International Investors increased its stake in shares of Progressive by 78.9% in the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after acquiring an additional 6,045,732 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Progressive by 26.1% during the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after acquiring an additional 2,314,864 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Progressive by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock valued at $2,928,141,000 after acquiring an additional 2,709,417 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive is expanding its market presence in North America, which supports longer-term premium growth and distribution reach. Progressive Insurance Expands Market Presence In North America
• Positive Sentiment: Bank of America kept a Buy stance while slightly trimming its price target (from $315 to $308), which signals continued analyst confidence in the company’s longer-term earnings power despite near-term headwinds. Bank of America PT Cut
• Positive Sentiment: Progressive announced a small quarterly dividend (record April 2; payable April 10). While the yield is modest, the payout and prior special dividends highlight management’s willingness to return capital, which can support income-oriented holders. Progressive Dividend Announcement
• Positive Sentiment: Featured investor commentary continues to highlight Progressive as a high-conviction, dividend-oriented name due to strong underwriting, data advantages and market-share resilience. (This bolsters buy-side narratives even as growth moderates.) Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: A recent analysis notes Progressive’s fundamentals remain intact but growth is moderating, which helps explain mixed near-term sentiment: profitable and well-capitalized, but with slower top-line momentum. Progressive: Moderating Growth But Intact Fundamentals
• Neutral Sentiment: Note: a press item about Progressive Planet (ticker PLAN) releasing low-carbon cement is unrelated to PGR and can cause ticker confusion in headlines. Progressive Planet Unveils Low-Carbon LCD Cement
• Negative Sentiment: BMO Capital Markets cut its price target to $208 and moved to a “market perform” rating, increasing near-term downside risk perception and likely contributing to selling pressure. BMO Lowers PT to $208
• Negative Sentiment: Insider selling: Chief Accounting Officer Carl Joyce disclosed a sale (141 shares) and another recent insider (Karen Bailo) sold shares — small transactions but they can weigh on sentiment when paired with analyst caution. Carl Joyce Form 4 Karen Bailo Sale

Progressive Price Performance

PGR opened at $201.19 on Thursday. The stock’s 50-day moving average price is $207.56 and its 200 day moving average price is $223.03. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The firm has a market cap of $117.88 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 9.00 and a beta of 0.33. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Progressive Announces Dividend

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 is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s payout ratio is 2.08%.

Insider Activity

In related news, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the sale, the insider directly owned 32,348 shares of the company’s stock, valued at $6,857,776. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,761 shares of company stock worth $2,659,420 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PGR. UBS Group reduced their target price on shares of Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. BMO Capital Markets decreased their price objective on Progressive from $232.00 to $208.00 and set a “market perform” rating on the stock in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $259.00 price objective on shares of Progressive in a research report on Monday, March 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $225.00 target price on shares of Progressive in a research note on Monday, February 23rd. Finally, Morgan Stanley decreased their price target on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Progressive has a consensus rating of “Hold” and an average target price of $241.94.

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.