PCM Encore LLC Takes Position in The Progressive Corporation $PGR

PCM Encore LLC purchased a new position in The Progressive Corporation (NYSE:PGR) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,751 shares of the insurance provider’s stock, valued at approximately $601,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Trillium Asset Management LLC purchased a new stake in Progressive during the 2nd quarter valued at about $8,756,000. Vise Technologies Inc. acquired a new stake in Progressive in the 2nd quarter valued at about $5,629,000. E Fund Management Co. Ltd. purchased a new position in Progressive in the 2nd quarter worth approximately $453,000. Aurora Investment Counsel purchased a new position in Progressive in the 2nd quarter worth approximately $2,326,000. Finally, Madison Asset Management LLC acquired a new position in shares of Progressive during the 2nd quarter worth approximately $73,911,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Stock Performance

Progressive stock opened at $220.60 on Friday. The firm has a 50 day simple moving average of $215.20 and a 200-day simple moving average of $206.55. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $252.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $128.25 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.93 and a beta of 0.27.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 EPS for the quarter, beating the consensus estimate of $4.64 by $1.03. The firm had revenue of $23.61 billion for the quarter, compared to analyst estimates of $19.49 billion. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.40 EPS. On average, analysts expect that The Progressive Corporation will post 17.55 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.01%.

Analysts Set New Price Targets

PGR has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price target on Progressive from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group reiterated a “hold” rating and set a $228.00 price objective on shares of Progressive in a research report on Wednesday. Evercore set a $240.00 price objective on Progressive in a research note on Friday, July 10th. Morgan Stanley upgraded Progressive from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $190.00 to $210.00 in a report on Friday, July 24th. Finally, UBS Group raised 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. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $236.05.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded PGR to “outperform” from “market perform” and raised its price target to $250 from $226, implying meaningful upside from recent trading levels. KBW upgrades Progressive
• Positive Sentiment: July operating growth remained solid: net premiums written and earned both rose 5% year over year, while total policies in force increased 7% to 40.3 million. Personal auto policies were particularly strong, with direct auto policies up 9%. Progressive July 2026 results
• Neutral Sentiment: Analyst views remain mixed. Wells Fargo raised its price target modestly to $201 from $198 but retained an “underweight” rating, while William Blair maintained a “hold” stance, citing earnings deceleration and slower growth. Wells Fargo rating update
• Negative Sentiment: July earnings weakened despite premium growth. Net income fell 12% to $961 million and earnings per share declined 11% to $1.65. The combined ratio worsened to 86.8 from 85.3, indicating lower underwriting profitability, while realized securities results swung to a $47 million loss from a $79 million gain. Progressive July earnings analysis
• Negative Sentiment: Reported insider activity may weigh on sentiment: available data showed multiple company insiders selling shares over the past six months and no reported insider purchases.

Insider Activity at Progressive

In other Progressive news, insider Karen Bailo sold 8,452 shares of Progressive stock in a transaction on Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $1,797,824.92. Following the sale, the insider owned 32,348 shares in the company, valued at $6,880,743.08. The trade was a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew J. Quigg sold 3,499 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $220.00, for a total value of $769,780.00. Following the completion of the transaction, the chief financial officer directly owned 42,595 shares in the company, valued at approximately $9,370,900. This trade represents a 7.59% decrease in their position. 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 have sold 82,224 shares of company stock valued at $17,416,438 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Progressive Company 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.