Andra AP fonden Sells 52,367 Shares of The Progressive Corporation $PGR

Andra AP fonden decreased its holdings in The Progressive Corporation (NYSE:PGR) by 77.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 15,033 shares of the insurance provider’s stock after selling 52,367 shares during the quarter. Andra AP fonden’s holdings in Progressive were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PGR. 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. bought a new position in shares of Progressive in the fourth quarter worth about $27,000. HHM Wealth Advisors LLC lifted its position in shares of Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after buying an additional 126 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of Progressive during the 4th quarter valued at about $29,000. Finally, Entrust Financial LLC purchased a new stake in shares of Progressive in the fourth quarter worth $33,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Trading Down 0.6%

Shares of NYSE PGR opened at $204.57 on Thursday. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The business’s 50 day moving average is $209.39 and its two-hundred day moving average is $205.90. The stock has a market capitalization of $119.54 billion, a P/E ratio of 10.26, a PEG ratio of 2.77 and a beta of 0.26.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to bundle RV insurance solutions with Winnebago’s vehicles, which could strengthen customer acquisition, expand its RV insurance business, and support cross-selling opportunities. Article Title
• Positive Sentiment: The company also secured a jersey sponsorship with Cleveland’s future WNBA team, giving Progressive another brand-visibility win and reinforcing its marketing reach. Article Title
• Neutral Sentiment: Research firm DOWLING & PARTN lowered its FY2028 EPS estimate for Progressive to $15.88, below the current consensus of $17.55, which may reinforce investor caution around future earnings growth. Article Title
• Neutral Sentiment: Some broader market commentary continues to note that Progressive’s EPS growth may not be fully reflected in the share price, suggesting investors still see upside potential but are waiting for more proof. Article Title
• Negative Sentiment: Compared with peers, Travelers’ strong earnings-driven rally may be drawing attention to underwriting execution in the property-casualty sector, which could make investors more selective on Progressive until it shows similarly strong results. Article Title

Insider Activity

In other news, Director Jeffrey D. Kelly sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the sale, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $236,907.32. Following the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 15,230 shares of company stock valued at $3,165,817. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PGR has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on Progressive from $205.00 to $198.00 and set an “underweight” rating for the company in a research report on Thursday, July 16th. Bank of America reduced their price objective on shares of Progressive from $313.00 to $308.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. UBS Group upped their target price on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating for the company in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $235.05.

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.