CIBC Asset Management Inc Boosts Position in The Progressive Corporation $PGR

CIBC Asset Management Inc raised its holdings in shares of The Progressive Corporation (NYSE:PGR) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,402 shares of the insurance provider’s stock after buying an additional 10,859 shares during the period. CIBC Asset Management Inc’s holdings in Progressive were worth $25,288,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PGR. Vanguard Group Inc. boosted its position in Progressive by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 54,516,288 shares of the insurance provider’s stock worth $14,548,217,000 after purchasing an additional 493,332 shares during the period. Geode Capital Management LLC lifted its stake in shares of Progressive by 2.0% during the second quarter. Geode Capital Management LLC now owns 15,513,188 shares of the insurance provider’s stock worth $4,128,055,000 after purchasing an additional 301,371 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Progressive by 32.8% in the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after buying an additional 2,709,417 shares during the period. Norges Bank acquired a new stake in shares of Progressive in the second quarter valued at about $2,156,939,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Progressive by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,129,069 shares of the insurance provider’s stock valued at $1,101,883,000 after buying an additional 42,909 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of PGR stock opened at $206.04 on Monday. The stock has a market capitalization of $120.82 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.26 and a beta of 0.34. The Progressive Corporation has a one year low of $198.50 and a one year high of $292.99. The company’s 50-day simple moving average is $221.22 and its 200-day simple moving average is $232.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29.

Progressive Dividend Announcement

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

Progressive News Roundup

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

Insider Transactions at Progressive

In other Progressive news, CFO John P. Sauerland sold 5,000 shares of the stock in a transaction on Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the sale, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at approximately $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider owned 39,626 shares in the company, valued at approximately $8,097,573.10. The trade was a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,788 shares of company stock valued at $3,018,961. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Progressive from $250.00 to $252.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Bank of America decreased their target price on shares of 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, December 17th. HSBC set a $259.00 price target on shares of Progressive and gave the stock an “underperform” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive has an average 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.