Diversify Advisory Services LLC Purchases 3,120 Shares of The Progressive Corporation $PGR

Diversify Advisory Services LLC grew its position in shares of The Progressive Corporation (NYSE:PGR) by 339.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,038 shares of the insurance provider’s stock after buying an additional 3,120 shares during the quarter. Diversify Advisory Services LLC’s holdings in Progressive were worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PGR. Illinois Municipal Retirement Fund lifted its stake in shares of Progressive by 30.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock worth $25,381,000 after purchasing an additional 23,833 shares during the period. Allstate Corp grew its position in Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after buying an additional 20,338 shares during the period. Gateway Investment Advisers LLC grew its position in Progressive by 91.7% during the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after buying an additional 5,600 shares during the period. Mather Group LLC. increased its holdings in Progressive by 40.6% during the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after buying an additional 4,865 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Progressive by 471.3% during the third quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock valued at $5,556,000 after buying an additional 18,558 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup dropped their price target 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. UBS Group reduced their price objective on Progressive from $226.00 to $218.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $259.00 target price on shares of Progressive in a report on Monday, March 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their price target on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $241.94.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive is expanding its market presence in North America, which supports longer-term premium growth and distribution reach. Progressive Insurance Expands Market Presence In North America
• Positive Sentiment: Bank of America kept a Buy stance while slightly trimming its price target (from $315 to $308), which signals continued analyst confidence in the company’s longer-term earnings power despite near-term headwinds. Bank of America PT Cut
• Positive Sentiment: Progressive announced a small quarterly dividend (record April 2; payable April 10). While the yield is modest, the payout and prior special dividends highlight management’s willingness to return capital, which can support income-oriented holders. Progressive Dividend Announcement
• Positive Sentiment: Featured investor commentary continues to highlight Progressive as a high-conviction, dividend-oriented name due to strong underwriting, data advantages and market-share resilience. (This bolsters buy-side narratives even as growth moderates.) Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: A recent analysis notes Progressive’s fundamentals remain intact but growth is moderating, which helps explain mixed near-term sentiment: profitable and well-capitalized, but with slower top-line momentum. Progressive: Moderating Growth But Intact Fundamentals
• Neutral Sentiment: Note: a press item about Progressive Planet (ticker PLAN) releasing low-carbon cement is unrelated to PGR and can cause ticker confusion in headlines. Progressive Planet Unveils Low-Carbon LCD Cement
• Negative Sentiment: BMO Capital Markets cut its price target to $208 and moved to a “market perform” rating, increasing near-term downside risk perception and likely contributing to selling pressure. BMO Lowers PT to $208
• Negative Sentiment: Insider selling: Chief Accounting Officer Carl Joyce disclosed a sale (141 shares) and another recent insider (Karen Bailo) sold shares — small transactions but they can weigh on sentiment when paired with analyst caution. Carl Joyce Form 4 Karen Bailo Sale

Progressive Trading Down 2.8%

Progressive stock opened at $201.19 on Thursday. The stock has a market cap of $117.88 billion, a P/E ratio of 10.46, a PEG ratio of 9.00 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The firm’s 50 day moving average price is $207.56 and its 200-day moving average price is $223.03.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s payout ratio is currently 2.08%.

Insider Buying and Selling

In other news, 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 $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CIO Jonathan S. Bauer sold 2,266 shares of Progressive stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $203.05, for a total value of $460,111.30. Following the completion of the sale, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. This trade represents a 7.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,761 shares of company stock worth $2,659,420 in the last 90 days. 0.34% of the stock is owned by company insiders.

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.