First Trust Advisors LP Increases Stake in The Progressive Corporation $PGR

First Trust Advisors LP boosted its stake in shares of The Progressive Corporation (NYSE:PGR) by 17.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,453,827 shares of the insurance provider’s stock after acquiring an additional 212,902 shares during the period. First Trust Advisors LP’s holdings in Progressive were worth $288,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its holdings in Progressive by 235.1% during 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. purchased a new stake in shares of Progressive during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC raised its holdings in shares of Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 126 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of Progressive during the 4th quarter worth approximately $29,000. Finally, Entrust Financial LLC bought a new position in shares of Progressive during the 4th quarter valued at approximately $33,000. 85.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a report on Thursday, July 16th. HSBC upped their price target on shares of Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Mizuho increased their price objective on shares of Progressive from $217.00 to $243.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Evercore set a $240.00 price objective on shares of Progressive in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $250.00 target price on shares of Progressive in a report on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $235.05.

Insider Activity at Progressive

In related news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction on 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 trade represents a 23.69% decrease in their position. The transaction 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 transaction of $236,907.32. Following the sale, the insider owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Company insiders own 0.32% of the company’s stock.

Key Progressive News

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

Progressive Stock Performance

Shares of Progressive stock opened at $204.57 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. The stock’s fifty day moving average price is $209.39 and its 200-day moving average price is $205.90. The firm has a market cap of $119.54 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.77 and a beta of 0.26. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $254.93.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

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.