The Progressive Corporation $PGR is Confluence Investment Management LLC’s 8th Largest Position

Confluence Investment Management LLC boosted its stake in shares of The Progressive Corporation (NYSE:PGR) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,858 shares of the insurance provider’s stock after acquiring an additional 43,587 shares during the quarter. Progressive comprises about 2.0% of Confluence Investment Management LLC’s investment portfolio, making the stock its 8th biggest position. Confluence Investment Management LLC owned 0.10% of Progressive worth $136,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Progressive in the 2nd quarter valued at approximately $2,156,939,000. Capital International Investors increased its position in shares of 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 holdings in Progressive by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock valued at $2,928,141,000 after buying an additional 2,709,417 shares during the period. Capital Research Global Investors lifted its position in Progressive by 26.1% in the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after buying an additional 2,314,864 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position 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 buying an additional 731,207 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Trading Up 0.6%

Shares of PGR opened at $202.34 on Friday. The firm has a market capitalization of $118.55 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 8.76 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 $289.96. The company has a 50-day moving average of $206.25 and a 200 day moving average of $221.44.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.08%.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: BofA kept a Buy rating and only trimmed its target slightly (from $308 to $305), leaving a large implied upside versus current levels — supports bullish investor sentiment. Article Title
• Positive Sentiment: Wells Fargo raised its target from $214 to $217 and kept an Equal Weight view, a modest positive signal from another large shop. Article Title TickerReport
• Positive Sentiment: Progressive’s February operating update showed revenue/premium momentum: net premiums written +5% Y/Y, net premiums earned +8%, net income +2%, and policies in force +10% — supportive for top-line growth and pricing power. Investment-related realized losses improved sharply. Company Release
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its target to $227 and moved to Market Perform — a cautious stance but still shows modest upside relative to current prices. Article Title
• Neutral Sentiment: Market commentary and valuation pieces (Yahoo/Seeking Alpha/TipRanks) are prompting reassessments of PGR’s fair value after recent share weakness; these may influence medium-term sentiment but aren’t new company-specific catalysts. Yahoo Article
• Neutral Sentiment: Progressive issued a formal February performance update (company release / TipRanks coverage) — important for transparency but largely reiterative of monthly metrics. TipRanks
• Negative Sentiment: The combined ratio widened to 85.7 from 82.6 Y/Y, indicating underwriting profitability softened — a clear profit-margin headwind for an insurer. Company Release
• Negative Sentiment: Data shows significant insider selling and large institutional shifts (notably UBS removing a large block), which can weigh on sentiment and signal portfolio rebalancing or concern from major holders. QuiverQuant
• Negative Sentiment: Market headlines note intraday stock weakness in some sessions (MSN coverage), reflecting short-term volatility as investors digest the mixed signals. MSN

Wall Street Analyst Weigh In

A number of research firms recently commented on PGR. Wells Fargo & Company lifted their price target on shares of Progressive from $214.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. UBS Group cut their target price on Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $259.00 price target on shares of Progressive in a report on Monday, March 2nd. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Progressive has an average rating of “Hold” and a consensus target price of $240.67.

Insider Activity

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $336,973.15. Following the sale, the insider directly owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,417 shares of company stock valued at $2,357,289. Insiders own 0.34% of the company’s stock.

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.