Jonathan Bauer Sells 3,105 Shares of Progressive (NYSE:PGR) Stock

The Progressive Corporation (NYSE:PGR) CIO Jonathan Bauer sold 3,105 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Progressive Trading Down 0.4%

Shares of PGR stock opened at $206.04 on Friday. The stock has a market capitalization of $120.82 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.26 and a beta of 0.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $221.22 and its 200 day moving average is $232.28. The Progressive Corporation has a 12-month low of $198.50 and a 12-month high of $292.99.

Progressive Announces Dividend

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

Hedge Funds Weigh In On Progressive

A number of institutional investors and hedge funds have recently modified their holdings of PGR. Norges Bank purchased a new position in Progressive during the second quarter worth $2,156,939,000. Capital International Investors grew its holdings in Progressive by 78.9% during the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock valued at $3,384,082,000 after purchasing an additional 6,045,732 shares during the last quarter. Alliancebernstein L.P. raised its position in Progressive by 32.8% in the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after purchasing an additional 2,709,417 shares during the period. Capital Research Global Investors raised its position in Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after purchasing an additional 2,314,864 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Progressive by 2,012.0% in the third quarter. CIBC Private Wealth Group LLC now owns 767,549 shares of the insurance provider’s stock worth $189,546,000 after purchasing an additional 731,207 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PGR shares. Zacks Research downgraded shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Bank of America cut their price objective on shares of Progressive from $350.00 to $348.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. Raymond James Financial cut their price target on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. The Goldman Sachs Group set a $227.00 price target on Progressive in a research note on Wednesday, January 7th. Finally, William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $259.39.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive showed relative strength versus the broader market in the latest session, which can support short‑term buying interest ahead of earnings. Progressive (PGR) Beats Stock Market Upswing: What Investors Need to Know
• Neutral Sentiment: Q4 earnings preview: analysts expect earnings growth, but the Zacks preview flags items beyond headline EPS — underwriting trends, combined ratio and pricing momentum will determine whether Progressive delivers a beat or conservative guidance. This makes the print a binary near‑term catalyst. Progressive (PGR) Q4 Earnings Preview
• Neutral Sentiment: Valuation/strategy check: a Yahoo Finance piece questions whether Progressive’s long‑term growth is being priced appropriately after the recent pullback — useful context for value investors given PGR’s relatively low P/E (~11) but shorter‑term technical weakness (50‑day < 200‑day MA). Is Progressive (PGR) Pricing Its Long Term Growth Potential Correctly After Recent Pullback
• Negative Sentiment: Competitive threat — Lemonade’s new partnership with Tesla to offer steep discounts on FSD miles creates a potential pricing innovation that could win lower‑loss, tech‑savvy customers and put pressure on legacy insurers’ pricing and margins if scaled. This raises longer‑term competitive risk for Progressive’s auto franchise. Lemonade’s Tesla Deal Could Rewrite How Auto Insurance Is Priced
• Negative Sentiment: Insider selling: recent open‑market sales by CIO Jonathan Bauer and Andrew Quigg were disclosed (multiple transactions at ~\$204/share). While not huge relative to company size, clustered insider sales ahead of earnings can be perceived negatively by some investors. Progressive Insider Sells
• Negative Sentiment: Analyst/expectations risk: several firms have trimmed price targets or kept neutral/underweight calls; Zacks flags that while growth is expected, there may be limited obvious upside from an earnings‑beat narrative, so a miss or cautious guidance could drive further downside. Progressive (PGR) Reports Next Week

About Progressive

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.