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

Bank of New York Mellon Corp lowered its stake in The Progressive Corporation (NYSE:PGR) by 17.2% during the 3rd quarter, HoldingsChannel.com reports. 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’s holdings in Progressive were worth $779,667,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Davis Capital Management purchased a new stake in shares of Progressive in the third quarter worth $25,000. Atlantic Union Bankshares Corp bought a new position in Progressive in the 2nd quarter worth about $33,000. Westside Investment Management Inc. grew its position in Progressive by 900.0% during the 2nd quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in Progressive during the 2nd quarter valued at about $34,000. Finally, Richardson Financial Services Inc. raised its holdings in Progressive by 1,885.7% in the second quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock worth $37,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PGR shares. Citigroup reduced their price target on shares of Progressive from $301.38 to $300.60 and set a “buy” rating for the company in a research report on Monday, December 15th. Mizuho set a $240.00 target price on Progressive in a research note on Wednesday, January 14th. UBS Group decreased their price target on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progressive in a research report on Wednesday, December 17th. Finally, William Blair downgraded Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $259.39.

Progressive Stock Performance

Shares of PGR opened at $212.94 on Thursday. The firm has a market capitalization of $124.87 billion, a P/E ratio of 11.68, a PEG ratio of 1.27 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.29 and a quick ratio of 0.29. The Progressive Corporation has a one year low of $198.50 and a one year high of $292.99. The business has a fifty day moving average of $220.33 and a 200 day moving average of $231.34.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.10 per share. 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 currently 2.19%.

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

Insider Buying and Selling at Progressive

In other Progressive news, CFO John P. Sauerland sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $634,506.75. Following the transaction, the executive owned 26,249 shares in the company, valued at $5,363,983.15. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,788 shares of company stock worth $3,018,961 over the last 90 days. 0.33% of the stock is owned by company insiders.

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.