City National Bank of Florida MSD Acquires New Stake in The Progressive Corporation $PGR

City National Bank of Florida MSD acquired a new stake in The Progressive Corporation (NYSE:PGR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 6,404 shares of the insurance provider’s stock, valued at approximately $1,458,000. Progressive makes up 1.0% of City National Bank of Florida MSD’s holdings, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PGR. Norges Bank purchased a new stake in shares of Progressive in the 4th quarter valued at $1,836,094,000. Capital International Investors raised its holdings 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 valued at $3,384,082,000 after buying an additional 6,045,732 shares during the period. Capital Research Global Investors raised its holdings in shares of Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after buying an additional 2,314,864 shares during the period. Life Cycle Investment Partners Ltd purchased a new stake in shares of Progressive in the 4th quarter valued at $353,906,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Progressive by 193.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,206,742 shares of the insurance provider’s stock valued at $502,519,000 after buying an additional 1,454,111 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Activity

In other news, insider John Jo Murphy sold 5,916 shares of the stock in a transaction dated 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 transaction, the insider owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $231,400.00. Following the completion of the transaction, the insider owned 28,668 shares in the company, valued at approximately $5,733,600. The trade was a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,343 shares of company stock worth $1,470,355. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PGR has been the topic of several recent research reports. Weiss Ratings downgraded Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Evercore restated a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Royal Bank Of Canada set a $208.00 price target on Progressive in a report on Friday, May 22nd. Wells Fargo & Company upped their price target on Progressive from $218.00 to $222.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, Mizuho cut their price target on Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus target price of $238.11.

Progressive Trading Down 0.0%

PGR opened at $204.64 on Thursday. The Progressive Corporation has a one year low of $189.20 and a one year high of $267.92. The company has a market cap of $119.58 billion, a P/E ratio of 10.40, a PEG ratio of 5.93 and a beta of 0.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50-day simple moving average is $199.73 and its 200-day simple moving average is $207.42.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same quarter in the prior year, the business posted $4.37 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that The Progressive Corporation will post 16.34 EPS for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is presently 2.03%.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported solid May 2026 results, with net premiums written up 6%, net premiums earned up 10%, net income up 36%, and the combined ratio improving to 82.1 from 86.9 a year ago, signaling stronger profitability and underwriting performance. Progressive Reports May 2026 Results
• Positive Sentiment: Policies in force rose 8% year over year to 39.97 million, showing continued growth in Progressive’s auto and personal lines business. Progressive names new leadership structure as profit jumps
• Positive Sentiment: BofA reportedly raised its price target on PGR to $331 and kept a Buy rating, reinforcing the bullish case after the strong monthly update. BofA Raises PT on The Progressive Corporation (PGR) Stock
• Neutral Sentiment: Progressive announced management changes, including the planned January 2027 retirement of Personal Lines President Pat Callahan and new roles for Lori Niederst and Heather Day; the succession plan is orderly, but it adds a layer of transition risk. Progressive Announces Management Changes
• Negative Sentiment: Jim Cramer said the “group is under a lot of pressure,” reflecting broader investor concern that auto insurers like Progressive may face margin pressure if inflation or claims trends worsen. Jim Cramer on Progressive Corporation: “That Group Is Under a Lot of Pressure”

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.