Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 88,328 The Progressive Corporation $PGR

Posted by Geri Gentry on Aug 26th, 2026

Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Progressive Corporation (NYSE:PGR – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 88,328 shares of the insurance provider’s stock, valued at approximately $19,295,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Progressive during the 2nd quarter worth about $10,496,271,000. Norges Bank bought a new position in shares of Progressive in the 4th quarter valued at about $1,836,094,000. GQG Partners LLC bought a new position in shares of Progressive in the 2nd quarter valued at about $1,538,570,000. Deutsche Bank AG acquired a new stake in shares of Progressive during the 2nd quarter worth approximately $1,098,838,000. Finally, Wellington Management Group LLP grew its position in shares of Progressive by 181.8% during the 4th quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider’s stock worth $1,481,615,000 after buying an additional 4,197,212 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Buying and Selling

In other news, CFO Andrew J. Quigg sold 3,499 shares of Progressive stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $220.00, for a total transaction of $769,780.00. Following the transaction, the chief financial officer directly owned 42,595 shares of the company’s stock, valued at $9,370,900. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori A. Niederst sold 7,339 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $209.29, for a total transaction of $1,535,979.31. Following the completion of the transaction, the insider directly owned 42,567 shares of the company’s stock, valued at $8,908,847.43. This trade represents a 14.71% 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 quarter, insiders sold 83,449 shares of company stock valued at $17,685,203. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PGR. Weiss Ratings reissued a “hold (c)” rating on shares of Progressive in a research note on Monday, August 3rd. Evercore set a $240.00 price objective on shares of Progressive in a research note on Friday, July 10th. Keefe, Bruyette & Woods raised shares of Progressive from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $226.00 to $250.00 in a report on Thursday, August 20th. Mizuho set a $236.00 target price on shares of Progressive in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald cut their price target on Progressive from $220.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, August 17th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $236.05.

Read Our Latest Report on PGR

Progressive Stock Performance

Shares of PGR stock opened at $221.77 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $128.93 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.99 and a beta of 0.27. The stock has a 50-day moving average of $216.29 and a 200-day moving average of $206.94. The Progressive Corporation has a one year low of $189.20 and a one year high of $249.83.

Progressive (NYSE:PGR – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.64 by $1.03. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The business had revenue of $23.61 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period last year, the company posted $5.40 EPS. Progressive’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that The Progressive Corporation will post 17.72 earnings per share for the current year.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.01%.

About Progressive

(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.