Sky Investment Group LLC Raises Stake in The Progressive Corporation $PGR

Sky Investment Group LLC lifted its stake in shares of The Progressive Corporation (NYSE:PGR) by 55.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,181 shares of the insurance provider’s stock after purchasing an additional 4,707 shares during the quarter. Sky Investment Group LLC’s holdings in Progressive were worth $3,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PGR. Brighton Jones LLC increased its holdings in Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after buying an additional 457 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive in the 4th quarter worth approximately $269,000. Bison Wealth LLC increased its stake in Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. Summit Financial LLC increased its stake in Progressive by 4.8% in the 1st quarter. Summit Financial LLC now owns 4,896 shares of the insurance provider’s stock valued at $1,386,000 after purchasing an additional 224 shares in the last quarter. Finally, CW Advisors LLC raised its holdings in Progressive by 1.8% during the first quarter. CW Advisors LLC now owns 10,961 shares of the insurance provider’s stock worth $3,093,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

PGR has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on Progressive from $246.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Progressive from $256.00 to $253.00 and set a “market perform” rating on the stock in a research report on Thursday. UBS Group lowered their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. HSBC set a $259.00 target price on shares of Progressive and gave the company an “underperform” rating in a report on Monday, November 17th. Finally, William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $264.68.

Insider Buying and Selling at Progressive

In related news, CFO John P. Sauerland sold 5,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the completion of the transaction, the chief financial officer directly owned 223,024 shares in the company, valued at approximately $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,345 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $228.29, for a total value of $307,050.05. Following the transaction, the insider owned 27,698 shares in the company, valued at $6,323,176.42. This trade represents a 4.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,690 shares of company stock valued at $1,745,350 over the last quarter. 0.34% of the stock is currently owned by insiders.

Progressive Price Performance

NYSE:PGR opened at $224.30 on Friday. The Progressive Corporation has a 12-month low of $199.90 and a 12-month high of $292.99. The firm has a market cap of $131.53 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.26 and a beta of 0.36. The company’s 50-day moving average is $222.77 and its two-hundred day moving average is $241.15. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.19.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same quarter last year, the firm earned $3.58 earnings per share. Research analysts expect that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s payout ratio is 2.19%.

Key Stores Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on PGR to $250 and kept a “market perform” rating — a modest vote of confidence that implies upside from current levels. KBW price target raise
• Neutral Sentiment: BMO Capital Markets trimmed its target slightly (from $256 to $253) but maintained a “market perform” view; the change is small and keeps implied upside intact. BMO target change
• Neutral Sentiment: Brokerage consensus remains around “Hold” for PGR, per a recent aggregation — this keeps expectations cautious rather than bullish. Brokerage consensus
• Neutral Sentiment: Investor attention to PGR is high (search and site-traffic notes), which can amplify moves but doesn’t by itself change fundamentals. Investor interest
• Neutral Sentiment: Some headlines discuss dividend implications and a sector downgrade that could alter the investment case — watch for follow-up on capital return policy and whether downgrades spread across insurers. Dividend/sector piece
• Neutral Sentiment: Be aware of name confusion in newsfeeds: unrelated companies (e.g., a drug approval for “JASCAYD” and results from “Progressive Planet”) reference “Progressive” but do not affect PGR’s insurance business. JASCAYD approval (unrelated) Progressive Planet (unrelated)
• Negative Sentiment: Analyst skepticism: Morgan Stanley (and commentary aggregated on TipRanks) reiterated concerns — citing decelerating growth, rising competition and smaller buybacks — and kept a Sell stance, which likely weighs on sentiment and downside risk. Morgan Stanley sell thesis
• Negative Sentiment: Recent coverage notes PGR shares slipped despite a stronger market — short-term technical/flow factors and the negative analyst narrative are contributing to the decline. Price drop article

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.