Carnegie Investment Counsel Trims Stake in The Progressive Corporation $PGR

Carnegie Investment Counsel lessened its holdings in shares of The Progressive Corporation (NYSE:PGR) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,104 shares of the insurance provider’s stock after selling 3,486 shares during the quarter. Progressive makes up 1.1% of Carnegie Investment Counsel’s portfolio, making the stock its 16th largest holding. Carnegie Investment Counsel’s holdings in Progressive were worth $56,519,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Bogart Wealth LLC lifted its position in Progressive by 235.1% during the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Bard Associates Inc. purchased a new stake in Progressive in the fourth quarter worth about $27,000. Dagco Inc. purchased a new stake in Progressive in the fourth quarter worth about $28,000. HHM Wealth Advisors LLC raised its stake in shares of Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after buying an additional 126 shares during the period. Finally, IFC & Insurance Marketing Inc. bought a new position in shares of Progressive in the fourth quarter worth about $29,000. Institutional investors own 85.34% of the company’s stock.

Analysts Set New Price Targets

PGR has been the subject of a number of recent research reports. Royal Bank Of Canada set a $208.00 price objective on Progressive in a research note on Friday, May 22nd. Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Wells Fargo & Company lowered shares of Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target for the company. in a research report on Monday, June 29th. Morgan Stanley reduced their price objective on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research note on Tuesday, March 31st. Finally, Barclays set a $247.00 target price on shares of Progressive in a research note on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $238.05.

Insiders Place Their Bets

In related news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the completion of the transaction, the insider owned 27,511 shares in the company, valued at approximately $5,633,152.36. This trade represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the sale, the director directly owned 22,546 shares in the company, valued at $4,877,376.18. The trade was a 23.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,230 shares of company stock valued at $3,165,817 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Progressive Price Performance

Progressive stock traded up $1.07 during midday trading on Friday, reaching $230.59. 1,477,630 shares of the stock traded hands, compared to its average volume of 3,432,770. The stock has a market cap of $134.74 billion, a P/E ratio of 11.72, a PEG ratio of 4.36 and a beta of 0.26. The stock’s fifty day moving average is $206.90 and its 200-day moving average is $206.90. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $254.93.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same period in the prior year, the firm earned $4.37 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that The Progressive Corporation will post 17.3 EPS for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.03%.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the insurer’s near-term upside. Mizuho Raises Progressive Price Target
• Positive Sentiment: DOWLING & PARTNERS increased its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the broader consensus of $17.28, which suggests analysts see continued earnings strength. Progressive Analyst Estimate Increase
• Positive Sentiment: One recent commentary piece argued that improving underwriting trends and a possible index-exit effect could be a “game changer” for Progressive, reinforcing the bullish view that fundamentals may support the stock. Index Exit and Upbeat Underwriting Trends Could Be A Game Changer For Progressive
• Neutral Sentiment: Another article said Progressive still looks fully valued after Russell Growth Index exits, which could limit enthusiasm even though it does not change the company’s operating outlook. Progressive After Russell Growth Index Exits Still Looks Fully Valued
• Neutral Sentiment: A comparison piece versus Allstate argued that Progressive’s valuation remains premium relative to peers, highlighting a potential headwind for multiple expansion rather than a direct business concern. Allstate Vs. Progressive: Buy Allstate’s Deep-Value Multiple Not Progressive’s Premium Run

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.