Carnegie Investment Counsel Sells 3,486 Shares of The Progressive Corporation $PGR

Carnegie Investment Counsel lessened its stake in The Progressive Corporation (NYSE:PGR) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 285,104 shares of the insurance provider’s stock after selling 3,486 shares during the period. Progressive accounts for approximately 1.1% of Carnegie Investment Counsel’s investment portfolio, making the stock its 16th largest holding. Carnegie Investment Counsel’s holdings in Progressive were worth $56,519,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PGR. Bogart Wealth LLC boosted its holdings in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares in the last quarter. Bard Associates Inc. bought a new position in shares of Progressive during the 4th quarter worth approximately $27,000. Dagco Inc. purchased a new stake in Progressive during the fourth quarter valued at approximately $28,000. HHM Wealth Advisors LLC boosted its stake in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 126 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. purchased a new position in Progressive in the fourth quarter worth $29,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the transaction, the director owned 22,546 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 15,230 shares of company stock worth $3,165,817. 0.32% of the stock is owned by company insiders.

Progressive Stock Performance

Shares of NYSE PGR traded up $1.07 during mid-day trading on Friday, hitting $230.59. The stock had a trading volume of 1,477,630 shares, compared to its average volume of 3,432,770. The firm has a market cap of $134.74 billion, a PE ratio of 11.72, a PEG ratio of 4.36 and a beta of 0.26. 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 company has a 50 day moving average of $206.90 and a two-hundred day moving average of $206.90. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.37 EPS. Research analysts predict that The Progressive Corporation will post 17.3 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s dividend payout ratio is 2.03%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PGR shares. Evercore set a $240.00 price target on Progressive in a research report on Friday. UBS Group boosted their target price on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. HSBC increased their price target on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Wells Fargo & Company lowered Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target on the stock. in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Progressive from $210.00 to $231.00 and gave the company a “market perform” rating in a report on Wednesday. Six research 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $238.05.

More Progressive News

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 insurer’s near-term upside. Mizuho Raises Progressive Price Target
• Positive Sentiment: DOWLING & PARTNERS increased its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the broader consensus of $17.28, which suggests analysts see continued earnings strength. Progressive Analyst Estimate Increase
• Positive Sentiment: One recent commentary piece argued that improving underwriting trends and a possible index-exit effect could be a “game changer” for Progressive, reinforcing the bullish view that fundamentals may support the stock. Index Exit and Upbeat Underwriting Trends Could Be A Game Changer For Progressive
• Neutral Sentiment: Another article said Progressive still looks fully valued after Russell Growth Index exits, which could limit enthusiasm even though it does not change the company’s operating outlook. Progressive After Russell Growth Index Exits Still Looks Fully Valued
• Neutral Sentiment: A comparison piece versus Allstate argued that Progressive’s valuation remains premium relative to peers, highlighting a potential headwind for multiple expansion rather than a direct business concern. Allstate Vs. Progressive: Buy Allstate’s Deep-Value Multiple Not Progressive’s Premium Run

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.