Summit Securities Group LLC Sells 18,663 Shares of The Progressive Corporation $PGR

Summit Securities Group LLC trimmed its holdings in The Progressive Corporation (NYSE:PGR) by 94.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 996 shares of the insurance provider’s stock after selling 18,663 shares during the quarter. Summit Securities Group LLC’s holdings in Progressive were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PGR. Norges Bank acquired a new position in Progressive in the fourth quarter valued at approximately $1,836,094,000. Wellington Management Group LLP boosted its holdings in shares of Progressive by 181.8% during the 4th quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider’s stock worth $1,481,615,000 after buying an additional 4,197,212 shares in the last quarter. Diamant Asset Management Inc. grew its position in shares of Progressive by 19,724.0% during the 1st quarter. Diamant Asset Management Inc. now owns 4,068,876 shares of the insurance provider’s stock worth $806,614,000 after buying an additional 4,048,351 shares during the period. Life Cycle Investment Partners Ltd acquired a new stake in shares of Progressive during the 4th quarter worth approximately $353,906,000. Finally, Arrowstreet Capital Limited Partnership increased its stake 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 acquiring an additional 1,454,111 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PGR shares. Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada set a $208.00 price target on shares of Progressive in a report on Friday, May 22nd. Mizuho lifted their price target on shares of Progressive from $217.00 to $243.00 and gave the company a “neutral” rating in a research note on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a $220.00 price objective on shares of Progressive in a report on Wednesday, May 20th. Finally, UBS Group increased their price objective on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $237.53.

Progressive Price Performance

Shares of PGR opened at $229.16 on Friday. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93. The business’s fifty day moving average is $206.30 and its 200 day moving average is $206.74. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The stock has a market cap of $133.91 billion, a P/E ratio of 11.65, a P/E/G ratio of 4.40 and a beta of 0.26.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. Progressive’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.37 EPS. Sell-side analysts anticipate that The Progressive Corporation will post 17.28 earnings per share for the current fiscal year.

Progressive Announces Dividend

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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.03%.

Insider Activity

In related news, Director Jeffrey D. Kelly sold 7,000 shares of the firm’s 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 transaction, the director owned 22,546 shares of the company’s stock, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider owned 27,511 shares of the company’s stock, valued at $5,633,152.36. This trade represents a 4.04% 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. Insiders sold 15,230 shares of company stock worth $3,165,817 over the last three months. 0.32% of the stock is currently owned by insiders.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the shares. Benzinga report on Mizuho price target increase
• Positive Sentiment: DOWLING & PARTN boosted its FY2026 EPS estimate for Progressive to $18.00 from $17.75, above the broader consensus of $17.26, which suggests analysts still see solid earnings power ahead. MarketBeat Progressive report
• Neutral Sentiment: Keefe, Bruyette & Woods also lifted its price target to $231 from $210, but maintained only a market perform rating, implying limited upside from current levels. Tickerreport article on KBW target increase
• Neutral Sentiment: Recent commentary noted Progressive may remain fully valued after its Russell Growth Index exit, reinforcing the idea that valuation is capping enthusiasm despite strong fundamentals. Yahoo Finance article on valuation after Russell Growth Index exit
• Negative Sentiment: A comparison piece argued that Progressive’s premium valuation looks stretched versus Allstate, especially as Allstate’s underwriting improved while Progressive’s combined ratio did not show similar progress. 247WallSt comparison of Allstate vs. Progressive

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.