Citizens Business Bank Buys New Shares in The Progressive Corporation $PGR

Citizens Business Bank purchased a new position in The Progressive Corporation (NYSE:PGR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,403 shares of the insurance provider’s stock, valued at approximately $4,545,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc grew its stake in shares of Progressive by 20.8% in the 2nd 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 period. Maia Wealth LLC raised its stake in Progressive by 5.4% during the 2nd 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. Trail Ridge Investment Advisors LLC boosted its holdings in Progressive by 1.6% in the second quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock worth $775,000 after acquiring an additional 45 shares in the last quarter. Selective Wealth Management Inc. grew its stake in Progressive by 2.1% in the third quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock valued at $538,000 after acquiring an additional 45 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in Progressive by 0.9% in the second quarter. Parkside Financial Bank & Trust now owns 5,130 shares of the insurance provider’s stock valued at $1,369,000 after acquiring an additional 46 shares during the period. 85.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PGR shares. Keefe, Bruyette & Woods increased their target price on Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a report on Thursday, February 19th. William Blair downgraded shares of Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Citigroup dropped their price objective on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Zacks Research downgraded shares of Progressive from a “hold” rating to a “strong sell” rating in a research report on Monday, January 26th. Finally, Roth Mkm set a $235.00 price target on shares of Progressive in a research report on Thursday, February 19th. Six analysts have rated the stock with a Buy rating, twelve have issued 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 a consensus price target of $244.71.

Progressive Trading Down 0.8%

Shares of PGR stock opened at $204.35 on Thursday. The Progressive Corporation has a 52-week low of $197.92 and a 52-week high of $292.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.29 and a current ratio of 0.38. The company has a 50-day simple moving average of $211.04 and a two-hundred day simple moving average of $225.72. The company has a market capitalization of $119.83 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 8.99 and a beta of 0.32.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders 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 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.08%.

Insider Activity at Progressive

In related news, CIO Jonathan S. Bauer sold 2,266 shares of Progressive stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $203.05, for a total transaction of $460,111.30. Following the sale, the executive directly owned 26,250 shares in the company, valued at approximately $5,330,062.50. This trade represents a 7.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven Broz sold 1,344 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the transaction, the insider directly owned 26,354 shares in the company, valued at approximately $5,924,379.20. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,103 shares of company stock valued at $3,026,324 in the last ninety days. Insiders own 0.34% of the company’s stock.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive will host an Investor Relations event on March 3 (45-minute presentation on capital & investments, followed by Q&A with the CEO and CFO); Progressive will file its Form 10‑K on March 2 — a near-term transparency event that could reset expectations. Progressive Announces Investor Relations Event
• Neutral Sentiment: Industry/valuation narrative is shifting as analysts recalibrate fair value for PGR; coverage remains mixed (some trims to targets, some buys) — this is creating divergent guidance for the stock rather than a unanimous directional signal. How The Progressive (PGR) Narrative Is Shifting
• Negative Sentiment: BofA cut its price target on PGR to $315 from $329 (but kept a Buy rating) — a downgrade to the target reduces upside expectations and may weigh on sentiment. BofA Lowers its Price Target on The Progressive Corporation (PGR)
• Negative Sentiment: Insider selling: CIO Jonathan Bauer sold 2,266 shares (~$460k) on Feb. 23 and insider Maribel Pumarejo sold 739 shares (~$150k) on Feb. 24 — continued executive sales can pressure the stock and signal liquidity-taking by insiders. Progressive (NYSE:PGR) CIO Sells $460,111.30 in Stock
• Negative Sentiment: Institutional reshuffling: recent large reductions (e.g., UBS AM and FMR trimming Q4 positions) indicate some major holders are cutting exposure — this can amplify downside pressure until fresh buying appears. The Progressive Corporation to Host Investor Relations Event on March 3, 2026

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.