31,407 Shares in The Progressive Corporation $PGR Acquired by Danica Pension Livsforsikringsaktieselskab

Key Points

• Danica Pension opened a new position in Progressive during the first quarter, buying 31,407 shares valued at about $6.23 million.
• Institutional interest in Progressive remains heavy, with large investors like Norges Bank and Wellington Management holding sizable stakes; overall, institutions own 85.34% of the stock.
• Analysts are mostly cautious on the insurer, with Progressive carrying an average “Hold” rating and an average price target of $235.05, while shares recently traded around $204.57.

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of The Progressive Corporation (NYSE:PGR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,407 shares of the insurance provider's stock, valued at approximately $6,226,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Progressive during the fourth quarter worth about $1,836,094,000. Wellington Management Group LLP increased its holdings in shares of Progressive by 181.8% in the fourth quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider's stock worth $1,481,615,000 after acquiring an additional 4,197,212 shares in the last quarter. Diamant Asset Management Inc. increased its holdings in shares of Progressive by 19,724.0% in the first quarter. Diamant Asset Management Inc. now owns 4,068,876 shares of the insurance provider's stock worth $806,614,000 after acquiring an additional 4,048,351 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Progressive during the fourth quarter worth about $353,906,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Progressive by 193.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,206,742 shares of the insurance provider's stock valued at $502,519,000 after purchasing an additional 1,454,111 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $250.00 price objective on shares of Progressive in a research report on Tuesday, July 14th. HSBC lifted their price target on shares of Progressive from $214.00 to $221.00 and gave the company a "hold" rating in a research note on Monday, July 6th. BMO Capital Markets reduced their price target on shares of Progressive from $220.00 to $205.00 and set a "market perform" rating for the company in a report on Thursday, July 16th. William Blair reissued a "market perform" rating on shares of Progressive in a research report on Wednesday, July 15th. Finally, Bank of America dropped their price objective 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. Five investment 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. According to MarketBeat.com, Progressive presently has an average rating of "Hold" and an average target price of $235.05.

Progressive Stock Performance

Shares of PGR stock opened at $204.57 on Thursday. The company 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 quick ratio of 0.27 and a current ratio of 0.32. The company has a 50-day simple moving average of $209.39 and a 200 day simple moving average of $205.90. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive's payout ratio is presently 2.01%.

Insider Activity

In related news, insider John Jo Murphy sold 5,916 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the transaction, the insider directly owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 dated Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total transaction 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. This represents 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 sold 15,230 shares of company stock valued at $3,165,817. 0.32% of the stock is owned by company 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

Progressive 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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