Bank of America Corp DE Decreases Stake in The Progressive Corporation $PGR

Posted by Geri Gentry on Jul 30th, 2026

Bank of America Corp DE lessened its position in shares of The Progressive Corporation (NYSE:PGR – Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,874,152 shares of the insurance provider’s stock after selling 522,798 shares during the period. Bank of America Corp DE owned about 2.20% of Progressive worth $2,552,172,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bogart Wealth LLC lifted its position in shares of Progressive by 235.1% during the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Bard Associates Inc. acquired a new position in shares of Progressive during the fourth quarter worth $27,000. HHM Wealth Advisors LLC increased its holdings in Progressive by 700.0% in the first 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 during the last quarter. IFC & Insurance Marketing Inc. acquired a new stake in Progressive in the fourth quarter valued at $29,000. Finally, Entrust Financial LLC acquired a new stake in Progressive in the fourth quarter valued at $33,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

Positive Sentiment: The scheduled nature of the transactions reduces the likelihood that the sales signal a current deterioration in Progressive’s business outlook. Despite the sales, executives continue to hold substantial positions in the company.
Positive Sentiment: Analyst sentiment remains broadly supportive. Progressive has an average rating of “Hold” and a consensus price target of $236.11, above its recent trading level. UBS raised its target to $230, while Morgan Stanley upgraded the stock to “Equal Weight.”
Neutral Sentiment: Progressive recently paid a quarterly dividend of $0.10 per share, equivalent to a $0.40 annualized payout and a roughly 0.2% yield. The dividend provides limited income support because of its small size.
Neutral Sentiment: Institutional investors own approximately 85.34% of Progressive, and several smaller investment firms modestly increased their holdings. This indicates continued institutional participation but is not a major new catalyst.
Negative Sentiment: Progressive insiders reported significant selling. CEO Susan Patricia Griffith sold 37,338 shares for about $7.94 million; Karen Bailo sold 8,452 shares; CIO Jonathan Bauer sold 2,242 shares; John Jo Murphy sold 8,124 shares; and CFO Andrew J. Quigg sold 3,499 shares for about $770,000. The sales reduce individual holdings by approximately 6.7% to 20.7% and could create a cautious near-term signal, even though they were planned in advance. Progressive CFO insider-sale filing

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PGR shares. HSBC lifted their price target on Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a report on Monday, July 6th. Mizuho raised their target price on Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. William Blair restated a “market perform” rating on shares of Progressive in a research note on Wednesday, July 15th. Weiss Ratings cut Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Progressive in a report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $236.11.

View Our Latest Report on Progressive

Insiders Place Their Bets

In related news, CFO Andrew J. Quigg sold 3,499 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $220.00, for a total value of $769,780.00. Following the completion of the sale, the chief financial officer directly owned 42,595 shares of the company’s stock, valued at $9,370,900. This represents a 7.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $1,797,824.92. Following the transaction, the insider owned 32,348 shares in the company, valued at $6,880,743.08. This represents a 20.72% decrease in their position. 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. In the last three months, insiders sold 74,885 shares of company stock worth $15,880,459. Corporate insiders own 0.32% of the company’s stock.

Progressive Price Performance

Shares of PGR opened at $220.52 on Thursday. 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 Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The stock has a market cap of $128.86 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 2.96 and a beta of 0.26. The firm has a fifty day moving average price of $210.81 and a 200 day moving average price of $206.02.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s payout ratio is presently 2.01%.

Progressive Profile

(Free Report)

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.