Danica Pension Livsforsikringsaktieselskab Invests $6.23 Million in The Progressive Corporation $PGR

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of The Progressive Corporation (NYSE:PGR) during the 1st quarter, Holdings Channel.com reports. The firm purchased 31,407 shares of the insurance provider’s stock, valued at approximately $6,226,000.

A number of other hedge funds have also added to or reduced their stakes in PGR. Bard Associates Inc. bought a new stake in Progressive during the fourth quarter worth $27,000. Bogart Wealth LLC increased its stake in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of Progressive during the 4th quarter worth $29,000. HHM Wealth Advisors LLC raised its holdings 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 worth $29,000 after buying an additional 126 shares in the last quarter. Finally, Acumen Wealth Advisors LLC bought a new stake in shares of Progressive during the 4th quarter worth $33,000. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of PGR opened at $204.57 on Thursday. 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 stock has a market cap of $119.54 billion, a PE ratio of 10.26, a PEG ratio of 2.77 and a beta of 0.26. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93. The business has a 50-day simple moving average of $209.39 and a two-hundred day simple moving average of $205.90.

Progressive Announces Dividend

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

Insider Buying and Selling

In other news, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 22,546 shares of the company’s stock, valued at approximately $4,877,376.18. This represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 1,157 shares of the firm’s 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 transaction, the insider owned 27,511 shares of the company’s stock, valued at $5,633,152.36. This trade 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 have sold a total of 15,230 shares of company stock valued at $3,165,817 over the last 90 days. 0.32% of the stock is owned by insiders.

Progressive News Summary

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

Wall Street Analyst Weigh In

PGR has been the topic of a number of recent analyst reports. William Blair reiterated a “market perform” rating on shares of Progressive in a research report on Wednesday, July 15th. Mizuho increased their target price on shares of Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company reduced their price target on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, July 16th. 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 report on Thursday, July 16th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $250.00 price objective on shares of Progressive in a research report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $235.05.

Progressive Company 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.