First Trust Advisors LP Purchases 212,902 Shares of The Progressive Corporation $PGR

First Trust Advisors LP grew its position in shares of The Progressive Corporation (NYSE:PGR) by 17.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,453,827 shares of the insurance provider’s stock after buying an additional 212,902 shares during the quarter. First Trust Advisors LP owned 0.25% of Progressive worth $288,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock worth $12,584,067,000 after acquiring an additional 593,612 shares during the last quarter. State Street Corp boosted its stake in Progressive by 0.3% during the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock valued at $6,373,474,000 after purchasing an additional 78,374 shares during the last quarter. Capital International Investors boosted its stake in Progressive by 8.9% during the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock valued at $3,398,123,000 after purchasing an additional 1,217,527 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Progressive by 11.7% in the 4th quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock worth $2,375,706,000 after purchasing an additional 1,092,151 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Progressive in the 4th quarter worth $1,836,094,000. Institutional investors own 85.34% of the company’s stock.

Progressive Price Performance

NYSE PGR opened at $204.57 on Thursday. The business’s fifty day moving average price is $209.39 and its 200-day moving average price is $205.90. The stock has a market capitalization of $119.54 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.77 and a beta of 0.26. 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.

Progressive Dividend Announcement

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

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction 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 transaction, the insider directly owned 27,511 shares in the company, valued at approximately $5,633,152.36. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of Progressive 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 transaction, the director directly owned 22,546 shares in the company, valued at approximately $4,877,376.18. The trade was a 23.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,230 shares of company stock valued at $3,165,817. 0.32% of the stock is owned by company insiders.

Key Headlines Impacting Progressive

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 Analysts Forecast Growth

PGR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $250.00 price target on shares of Progressive in a report on Tuesday, July 14th. Bank of America reduced their price objective on Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a report on Thursday, July 16th. HSBC boosted their target price on Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Mizuho upped their target price on shares of Progressive from $217.00 to $243.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progressive presently has an average rating of “Hold” and an average price target 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.