The Progressive Corporation $PGR Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. reduced its position in The Progressive Corporation (NYSE:PGR) by 26.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,633 shares of the insurance provider’s stock after selling 3,431 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Progressive were worth $1,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGR. Allstate Corp lifted its position in shares of Progressive by 106.1% in the 4th quarter. Allstate Corp now owns 44,513 shares of the insurance provider’s stock worth $10,136,000 after buying an additional 22,915 shares during the last quarter. Norges Bank bought a new stake in shares of Progressive during the 4th quarter valued at about $1,836,094,000. Mariner LLC grew its position in shares of Progressive by 7.9% during the 3rd quarter. Mariner LLC now owns 644,636 shares of the insurance provider’s stock valued at $159,183,000 after buying an additional 47,248 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Progressive by 5.7% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock worth $411,506,000 after acquiring an additional 97,275 shares during the period. Finally, Investment House LLC bought a new position in Progressive in the fourth quarter worth about $8,447,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays set a $247.00 target price on Progressive in a research note on Wednesday, March 18th. Royal Bank Of Canada set a $208.00 price target on Progressive in a research report on Friday, May 22nd. Evercore set a $240.00 price target on Progressive in a report on Friday. Keefe, Bruyette & Woods boosted their price objective on Progressive from $210.00 to $231.00 and gave the company a “market perform” rating in a research report on Wednesday, July 8th. Finally, UBS Group upped their price objective on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $238.05.

Progressive Price Performance

NYSE PGR opened at $230.59 on Monday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The stock has a market cap of $134.74 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 4.36 and a beta of 0.26. The company has a 50-day moving average price of $206.90 and a two-hundred day moving average price of $206.76.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. The company had revenue of $22.19 billion for 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 business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.37 earnings per share. Analysts forecast that The Progressive Corporation will post 17.3 EPS for the current year.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were given 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 (DPR) is currently 2.03%.

Key Stories Impacting Progressive

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

Insider Activity at Progressive

In other Progressive news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the sale, the director owned 22,546 shares of the company’s stock, valued at $4,877,376.18. The trade was a 23.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Broz sold 1,157 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,230 shares of company stock worth $3,165,817 in the last three months. 0.32% of the stock is owned by company insiders.

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.