PCM Encore LLC Takes Position in The Progressive Corporation $PGR

PCM Encore LLC bought a new position in The Progressive Corporation (NYSE:PGR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,751 shares of the insurance provider’s stock, valued at approximately $601,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Klingman & Associates LLC boosted its position in Progressive by 1.7% in 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. Pines Wealth Management LLC increased its holdings in shares of Progressive by 3.9% during the 4th quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock valued at $319,000 after purchasing an additional 52 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of 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 purchasing an additional 52 shares in the last quarter. Phillips Wealth Planners LLC lifted its stake in shares of Progressive by 2.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,916 shares of the insurance provider’s stock valued at $436,000 after purchasing an additional 52 shares during the period. Finally, Sumitomo Life Insurance Co. lifted its stake in shares of Progressive by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 4,307 shares of the insurance provider’s stock valued at $981,000 after purchasing an additional 52 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded PGR to “outperform” from “market perform” and raised its price target to $250 from $226, implying meaningful upside from recent trading levels. KBW upgrades Progressive
• Positive Sentiment: July operating growth remained solid: net premiums written and earned both rose 5% year over year, while total policies in force increased 7% to 40.3 million. Personal auto policies were particularly strong, with direct auto policies up 9%. Progressive July 2026 results
• Neutral Sentiment: Analyst views remain mixed. Wells Fargo raised its price target modestly to $201 from $198 but retained an “underweight” rating, while William Blair maintained a “hold” stance, citing earnings deceleration and slower growth. Wells Fargo rating update
• Negative Sentiment: July earnings weakened despite premium growth. Net income fell 12% to $961 million and earnings per share declined 11% to $1.65. The combined ratio worsened to 86.8 from 85.3, indicating lower underwriting profitability, while realized securities results swung to a $47 million loss from a $79 million gain. Progressive July earnings analysis
• Negative Sentiment: Reported insider activity may weigh on sentiment: available data showed multiple company insiders selling shares over the past six months and no reported insider purchases.

Progressive Price Performance

Shares of NYSE PGR opened at $220.60 on Friday. The firm has a market cap of $128.25 billion, a PE ratio of 11.06, a PEG ratio of 2.93 and a beta of 0.27. The firm has a fifty day moving average of $215.20 and a 200 day moving average of $206.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a one year low of $189.20 and a one year high of $252.82.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $5.40 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that The Progressive Corporation will post 17.55 EPS for the current fiscal year.

Progressive Announces Dividend

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

Analyst Upgrades and Downgrades

PGR has been the topic of several analyst reports. HSBC raised their price target on shares of Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Morgan Stanley upgraded shares of Progressive from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $190.00 to $210.00 in a research report on Friday, July 24th. Mizuho set a $236.00 target price on shares of Progressive in a research note on Wednesday, August 5th. Royal Bank Of Canada set a $208.00 target price on Progressive in a research report on Friday, May 22nd. Finally, Roth Capital restated a “buy” rating and issued a $245.00 price target on shares of Progressive in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $236.05.

Insider Transactions at Progressive

In other Progressive news, CEO Susan Patricia Griffith sold 37,338 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.71, for a total transaction of $7,942,165.98. Following the completion of the transaction, the chief executive officer owned 522,776 shares of the company’s stock, valued at $111,199,682.96. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,224 shares of company stock worth $17,416,438 in the last three months. 0.32% of the stock is owned by corporate insiders.

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.