17,346 Shares in The Progressive Corporation $PGR Bought by Ibex Wealth Advisors

Key Points

• Ibex Wealth Advisors bought a new stake in The Progressive Corporation during the first quarter, purchasing 17,346 shares valued at about $3.44 million.
• Progressive reported quarterly earnings of $4.80 per share, beating analyst estimates, while revenue rose 6.5% year over year to $22.19 billion. The company also continues to show strong profitability, with a 33.47% return on equity.
• The company announced a quarterly dividend of $0.10 per share, and analyst sentiment remains mixed but generally cautious, with an average Hold rating and a consensus price target of $237.53.

Ibex Wealth Advisors bought a new stake in The Progressive Corporation (NYSE:PGR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,346 shares of the insurance provider's stock, valued at approximately $3,439,000.

A number of other large investors have also added to or reduced their stakes in PGR. Bogart Wealth LLC increased 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 valued at $25,000 after purchasing an additional 87 shares during the last quarter. Bard Associates Inc. bought a new stake in Progressive in the 4th quarter worth approximately $27,000. Dagco Inc. bought a new stake in Progressive in the 4th quarter worth approximately $28,000. IFC & Insurance Marketing Inc. purchased a new stake in Progressive in the fourth quarter worth approximately $29,000. Finally, HHM Wealth Advisors LLC boosted its stake in Progressive by 700.0% in the first 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. Hedge funds and other institutional investors own 85.34% of the company's stock.

Progressive Stock Performance

NYSE:PGR opened at $229.16 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $254.93. The firm has a market cap of $133.91 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 4.40 and a beta of 0.26. The business has a 50 day moving average price of $206.30 and a 200-day moving average price of $206.74.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the previous year, the firm earned $4.37 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that The Progressive Corporation will post 17.28 earnings per share for the current year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive's payout ratio is presently 2.03%.

Insider Buying and Selling at Progressive

In related news, Director Jeffrey D. Kelly sold 7,000 shares of the firm's 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 sale, the director directly owned 22,546 shares of the company's stock, valued at $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Broz sold 1,157 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were 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 in the company, valued at approximately $5,633,152.36. This represents a 4.04% 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. Over the last quarter, insiders have sold 15,230 shares of company stock worth $3,165,817. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PGR has been the topic of several research reports. Barclays set a $247.00 price target on shares of Progressive in a research note on Wednesday, March 18th. HSBC upped their price objective on shares of Progressive from $214.00 to $221.00 and gave the company a "hold" rating in a research note on Monday. UBS Group increased their target price on shares of Progressive from $220.00 to $230.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Weiss Ratings cut shares of Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $220.00 price target on shares of Progressive in a research note on Wednesday, May 20th. Six equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $237.53.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the shares. Benzinga report on Mizuho price target increase
• Positive Sentiment: DOWLING & PARTN boosted its FY2026 EPS estimate for Progressive to $18.00 from $17.75, above the broader consensus of $17.26, which suggests analysts still see solid earnings power ahead. MarketBeat Progressive report
• Neutral Sentiment: Keefe, Bruyette & Woods also lifted its price target to $231 from $210, but maintained only a market perform rating, implying limited upside from current levels. Tickerreport article on KBW target increase
• Neutral Sentiment: Recent commentary noted Progressive may remain fully valued after its Russell Growth Index exit, reinforcing the idea that valuation is capping enthusiasm despite strong fundamentals. Yahoo Finance article on valuation after Russell Growth Index exit
• Negative Sentiment: A comparison piece argued that Progressive’s premium valuation looks stretched versus Allstate, especially as Allstate’s underwriting improved while Progressive’s combined ratio did not show similar progress. 247WallSt comparison of Allstate vs. Progressive

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.

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