The Progressive Corporation $PGR Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in The Progressive Corporation (NYSE:PGR) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 701,442 shares of the insurance provider’s stock after selling 35,035 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of Progressive worth $173,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new stake in Progressive in the second quarter valued at about $33,000. Westside Investment Management Inc. boosted its holdings in Progressive by 900.0% in the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Howard Hughes Medical Institute acquired a new position in Progressive during the 2nd quarter worth approximately $34,000. Finally, Richardson Financial Services Inc. increased its position in Progressive by 1,885.7% during the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 132 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Steven Broz sold 1,344 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $224.80, for a total transaction of $302,131.20. Following the sale, the insider owned 26,354 shares in the company, valued at $5,924,379.20. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CIO Jonathan S. Bauer sold 3,105 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the transaction, the executive owned 26,249 shares of the company’s stock, valued at $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,788 shares of company stock worth $3,018,961 in the last three months. 0.33% of the stock is owned by insiders.

Progressive Stock Performance

Progressive stock opened at $212.94 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a fifty-two week low of $198.50 and a fifty-two week high of $292.99. The stock has a fifty day moving average of $220.33 and a two-hundred day moving average of $231.34. The company has a market capitalization of $124.87 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.27 and a beta of 0.34.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.19%.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 results beat estimates — Progressive reported stronger-than-expected December/Q4 results with solid underwriting (an ~87% combined ratio reported by some outlets), revenue and EPS above consensus, and premium growth while prioritizing margins. This underpins near-term profitability and investor confidence. Progressive reports strong Q4 2025 results, announces CFO transition
• Positive Sentiment: Bank of America reiterates Buy and lifts price target to $334 — BofA’s upgrade/continued Buy stance with a much higher target signals analyst conviction in upside given sustained policy momentum and elevated profitability. That upgrade likely helped buying interest today. Progressive: Sustained Policy Momentum, Elevated Profitability, and Valuation Upside Support Buy Rating
• Positive Sentiment: Analyst upgrades citing de‑risked margins — Independent analysis (Seeking Alpha) upgraded PGR, arguing margin fears are overdone after the beat and highlighting disciplined underwriting and attractive valuation (~12x earnings). Progressive: Margin Fears Are Overdone (Upgrade)
• Neutral Sentiment: CFO retirement with internal successor announced — CFO John Sauerland will retire July 3, 2026; Andrew Quigg (Chief Strategy Officer) is named successor and will work with Sauerland for a transition. Internal succession reduces disruption risk but still introduces leadership change. Progressive Announces Plans For CFO Transition
• Neutral Sentiment: Mixed analyst landscape and targets — While some firms (e.g., BofA, Barclays) are positive, others have trimmed targets or ratings recently; the median 6‑month target sits around $252, showing divergent views on growth vs. margin tradeoffs. Is Progressive Corporation (PGR) One of the Best Inexpensive Stocks to Buy Now?
• Negative Sentiment: Some downgrades and negative calls — Zacks moved to a negative stance (reported as a downgrade to “strong sell” by some feeds) and firms like HSBC and BMO have cut ratings/targets recently; these may cap upside and add selling pressure for more cautious investors. Zacks.com
• Negative Sentiment: Insider selling and mixed institutional activity — Recent disclosures show notable insider sales and significant rebalancing among large institutions, which could worry some investors about near-term sentiment even if institutional ownership remains large. The Progressive Corporation Announces Retirement of CFO John Sauerland, Successor Named

Wall Street Analyst Weigh In

Several analysts have recently commented on PGR shares. UBS Group reduced their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley reaffirmed an “underweight” rating on shares of Progressive in a research note on Wednesday. Evercore ISI decreased their price objective on shares of Progressive from $250.00 to $237.00 and set an “in-line” rating on the stock in a report on Wednesday, January 7th. Finally, Zacks Research cut shares of Progressive from a “hold” rating to a “strong sell” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Progressive currently has a consensus rating of “Hold” and an average price target of $259.39.

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.