Geneos Wealth Management Inc. lowered its holdings in shares of The Progressive Corporation (NYSE:PGR – Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,111 shares of the insurance provider’s stock after selling 4,170 shares during the period. Geneos Wealth Management Inc.’s holdings in Progressive were worth $7,555,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Klingman & Associates LLC increased its stake in shares of Progressive by 1.7% during the 4th quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 48 shares in the last quarter. Revisor Wealth Management LLC raised its position in shares of Progressive by 2.7% during the 4th quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock worth $395,000 after purchasing an additional 50 shares during the last quarter. Cullen Investment Group LTD. lifted its stake in Progressive by 0.7% in the 4th quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider’s stock valued at $1,606,000 after buying an additional 52 shares in the last quarter. Pines Wealth Management LLC lifted its stake in Progressive by 3.9% in the 4th quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock valued at $319,000 after buying an additional 52 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in Progressive by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock valued at $4,267,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Insider Activity
In other news, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the transaction, the director directly owned 22,546 shares in the company, valued at $4,877,376.18. This represents a 23.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Broz sold 1,157 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider directly owned 27,511 shares in the company, valued at $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,230 shares of company stock valued at $3,165,817 in the last 90 days. 0.32% of the stock is currently owned by insiders.
Progressive News Roundup
- Positive Sentiment: Progressive reported Q2 earnings above estimates and continued to expand its business, with net premiums written up 5% for the quarter and total policies in force up 7% year over year. Progressive Reports June 2026 Results
- Positive Sentiment: Analysts at Bank of America still rate PGR a buy, even after trimming their price target, suggesting Wall Street still sees meaningful upside from current levels. Benzinga report on Bank of America price target cut
- Neutral Sentiment: Several research firms lowered price targets after the quarter, but most kept market-perform or equivalent ratings, indicating cautious sentiment rather than a strong bearish call. Progressive Analysts Slash Their Forecasts After Q2 Results
- Negative Sentiment: Net income fell 31% in June and the combined ratio worsened, raising concerns that underwriting margins are under pressure in a softer, more competitive insurance environment. Reuters report on quarterly profit and auto insurance demand
- Negative Sentiment: Other commentary highlighted that shares sold off after the earnings release because investors were disappointed by margin concerns and weaker-than-expected profit quality despite the top-line growth. Seeking Alpha news on Q2 results
Wall Street Analysts Forecast Growth
Several research firms have weighed in on PGR. Weiss Ratings downgraded Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Morgan Stanley decreased their price objective on Progressive from $205.00 to $190.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group dropped their price objective on Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research report on Tuesday, March 24th. HSBC boosted their target price on shares of Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday, July 6th. Finally, Bank of America decreased their price target on shares of Progressive from $313.00 to $308.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $235.05.
View Our Latest Research Report on PGR
Progressive Price Performance
Shares of NYSE:PGR opened at $206.14 on Friday. The company has a market cap of $120.46 billion, a P/E ratio of 10.34, a P/E/G ratio of 3.85 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The business has a fifty day simple moving average of $208.49 and a 200-day simple moving average of $206.49.
Progressive (NYSE:PGR – Get Free Report) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the prior year, the business posted $4.37 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts forecast that The Progressive Corporation will post 17.41 EPS for the current year.
Progressive Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.03%.
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.
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