The Progressive Corporation $PGR Position Decreased by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lowered its holdings in The Progressive Corporation (NYSE:PGR) by 17.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,334 shares of the insurance provider’s stock after selling 6,313 shares during the period. Levin Capital Strategies L.P.’s holdings in Progressive were worth $5,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allstate Corp lifted its holdings in shares of Progressive by 106.1% during the fourth quarter. Allstate Corp now owns 44,513 shares of the insurance provider’s stock valued at $10,136,000 after purchasing an additional 22,915 shares during the last quarter. Norges Bank purchased a new position in Progressive in the 4th quarter worth about $1,836,094,000. Investment House LLC purchased a new position in Progressive in the 4th quarter worth about $8,447,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Progressive by 5.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock worth $411,506,000 after buying an additional 97,275 shares during the period. Finally, Van Cleef Asset Management Inc raised its holdings in Progressive by 1.2% during the 4th quarter. Van Cleef Asset Management Inc now owns 761,587 shares of the insurance provider’s stock worth $173,429,000 after buying an additional 9,017 shares during the period. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Down 0.6%

Progressive stock opened at $204.57 on Thursday. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.32. The firm has a market cap of $119.54 billion, a PE ratio of 10.26, a P/E/G ratio of 2.77 and a beta of 0.26. The firm’s 50 day moving average price is $209.39 and its two-hundred day moving average price is $205.90.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s payout ratio is 2.01%.

Insiders Place Their Bets

In other news, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares of the company’s stock, valued at $8,258,000. This trade represents a 12.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the sale, the director owned 22,546 shares of the company’s stock, valued at approximately $4,877,376.18. This represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,230 shares of company stock valued at $3,165,817 in the last three months. Insiders own 0.32% of the company’s stock.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to bundle RV insurance solutions with Winnebago’s vehicles, which could strengthen customer acquisition, expand its RV insurance business, and support cross-selling opportunities. Article Title
• Positive Sentiment: The company also secured a jersey sponsorship with Cleveland’s future WNBA team, giving Progressive another brand-visibility win and reinforcing its marketing reach. Article Title
• Neutral Sentiment: Research firm DOWLING & PARTN lowered its FY2028 EPS estimate for Progressive to $15.88, below the current consensus of $17.55, which may reinforce investor caution around future earnings growth. Article Title
• Neutral Sentiment: Some broader market commentary continues to note that Progressive’s EPS growth may not be fully reflected in the share price, suggesting investors still see upside potential but are waiting for more proof. Article Title
• Negative Sentiment: Compared with peers, Travelers’ strong earnings-driven rally may be drawing attention to underwriting execution in the property-casualty sector, which could make investors more selective on Progressive until it shows similarly strong results. Article Title

Analyst Ratings Changes

Several brokerages have commented on PGR. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $250.00 target price on shares of Progressive in a report on Tuesday, July 14th. HSBC boosted their price target on shares of Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a report on Monday, July 6th. Bank of America reduced their price target on shares of Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a research note on Friday, May 22nd. Finally, William Blair reiterated a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Progressive currently has an average rating of “Hold” and an average target price of $235.05.

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.