Bank of New York Mellon Corp Sells 656,287 Shares of The Progressive Corporation $PGR

Bank of New York Mellon Corp lowered its position in The Progressive Corporation (NYSE:PGR) by 17.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,157,185 shares of the insurance provider’s stock after selling 656,287 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of Progressive worth $779,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC grew its holdings in shares of Progressive by 13.4% during the 2nd quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 40 shares during the last quarter. CVA Family Office LLC boosted its position in Progressive by 4.2% during the second quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock valued at $281,000 after buying an additional 42 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Progressive by 20.8% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $68,000 after buying an additional 44 shares during the last quarter. Maia Wealth LLC increased its holdings in shares of Progressive by 5.4% in the second quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock worth $229,000 after buying an additional 44 shares during the period. Finally, Trail Ridge Investment Advisors LLC lifted its stake in shares of Progressive by 1.6% in the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock valued at $775,000 after acquiring an additional 45 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company decreased their price target on Progressive from $242.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Mizuho set a $240.00 target price on shares of Progressive in a research note on Wednesday, January 14th. UBS Group lowered their price target on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. William Blair lowered shares of Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Finally, Citigroup lowered their price objective on shares of Progressive from $301.38 to $300.60 and set a “buy” rating for the company in a research note on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $259.39.

Progressive Trading Up 2.3%

NYSE:PGR opened at $212.94 on Thursday. The company has a 50-day moving average price of $220.33 and a 200-day moving average price of $231.34. The stock has a market cap of $124.87 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.27 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 Progressive Corporation has a 12 month low of $198.50 and a 12 month high of $292.99.

Progressive Dividend Announcement

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 dividend of $0.10 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is 2.19%.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 27,698 shares in the company, valued at $6,323,176.42. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief financial officer directly owned 223,024 shares in the company, valued at approximately $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,788 shares of company stock worth $3,018,961 over the last 90 days. 0.33% of the stock is currently owned by insiders.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 results beat expectations: Progressive reported stronger-than-expected quarterly earnings and revenue, driven by higher premiums and improved underwriting performance (reported combined ratio ~87%), supporting margin resilience. Progressive (PGR) Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Analyst upgrade: A recent analysis upgraded PGR to “Buy,” citing de‑risked valuation (~12x earnings), disciplined underwriting, and a favorable outlook on margins despite slower premium growth. Progressive: Margin Fears Are Overdone (Upgrade)
• Neutral Sentiment: CFO succession announced: Longtime CFO John Sauerland will retire July 3, 2026; Chief Strategy Officer Andrew Quigg is named successor and will work with Sauerland for a staged handover — the plan signals internal continuity but still introduces leadership change. Progressive Announces Plans For CFO Transition
• Negative Sentiment: Conflicting analyst view: Zacks issued a downgrade to “strong sell” earlier, creating some opposing short‑term pressure and mixed analyst signals for investors to weigh. Zacks downgrade / TickerReport
• Negative Sentiment: Notable insider selling highlighted in third‑party trackers may concern some investors, though the company attributes the CFO change to retirement and has an internal successor lined up. The Progressive Corporation Announces Retirement of CFO John Sauerland, Successor Named

Progressive 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.