The Progressive Corporation $PGR Shares Sold by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 34.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 6,918 shares of the insurance provider’s stock after selling 3,640 shares during the period. CHICAGO TRUST Co NA’s holdings in Progressive were worth $1,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in Progressive by 15.6% in the 4th 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 purchased a new stake in Progressive during the 4th quarter worth approximately $269,000. Bison Wealth LLC raised its holdings in shares of Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the last quarter. Summit Financial LLC lifted its position in shares of Progressive by 4.8% in the first quarter. Summit Financial LLC now owns 4,896 shares of the insurance provider’s stock valued at $1,386,000 after acquiring an additional 224 shares in the last quarter. Finally, CW Advisors LLC boosted its stake in shares of Progressive by 1.8% in the first quarter. CW Advisors LLC now owns 10,961 shares of the insurance provider’s stock worth $3,093,000 after acquiring an additional 194 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Down 0.2%

Shares of 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 capitalization of $131.53 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.26 and a beta of 0.36. The firm has a 50-day moving average price of $222.77 and a 200 day moving average price of $240.83. 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 posted its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing the consensus estimate of $5.04 by ($0.59). The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same quarter in the previous year, the firm earned $3.58 earnings per share. Sell-side analysts forecast that The Progressive Corporation will post 14.68 EPS for the current year.

Progressive Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America reduced their price objective on Progressive from $350.00 to $348.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progressive in a report on Wednesday. William Blair cut shares of Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday. BMO Capital Markets lowered their price target 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Progressive from $246.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Hold” and an average target price of $264.68.

Progressive News Roundup

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

Insiders Place Their Bets

In other 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 transaction, the chief financial officer owned 223,024 shares of the company’s stock, valued at $50,956,523.52. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Broz sold 1,345 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $6,323,176.42. This represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,690 shares of company stock worth $1,745,350 in the last 90 days. Company insiders own 0.34% 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.