ABN Amro Investment Solutions Increases Stock Position in The Progressive Corporation $PGR

Key Points

• ABN Amro Investment Solutions boosted its Progressive stake by 341.1% in the fourth quarter, ending with 31,310 shares valued at about $7.13 million.
• Progressive’s recent operating update was solid: April net premiums written rose 6% year over year to $7.28 billion, while net income increased 10% and EPS reached $1.86. However, the combined ratio worsened to 90.2, pointing to weaker underwriting efficiency.
• Wall Street remains mixed on PGR, with Wells Fargo raising its price target to $222 but the broader analyst consensus still at Hold with an average target price of $239.78. Insiders also sold shares recently, while the stock was trading around $199.08.

ABN Amro Investment Solutions raised its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 341.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,310 shares of the insurance provider's stock after purchasing an additional 24,212 shares during the period. ABN Amro Investment Solutions' holdings in Progressive were worth $7,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Dagco Inc. purchased a new position in shares of Progressive during the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. lifted its stake in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock valued at $31,000 after buying an additional 65 shares during the period. Entrust Financial LLC purchased a new position in shares of Progressive during the fourth quarter valued at approximately $33,000. Bangor Savings Bank lifted its stake in shares of Progressive by 60.4% during the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider's stock valued at $35,000 after buying an additional 58 shares during the period. Finally, Riverview Trust Co lifted its stake in shares of Progressive by 48.6% during the fourth quarter. Riverview Trust Co now owns 162 shares of the insurance provider's stock valued at $37,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 85.34% of the company's stock.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported April net premiums written rose 6% year over year to $7.28 billion, while net income increased 10% and EPS climbed to $1.86, signaling continued top-line growth and profitability. Progressive Reports April 2026 Results
• Positive Sentiment: Wells Fargo raised its price target on PGR to $222 from $218, suggesting some Wall Street confidence in the stock’s valuation. Benzinga coverage of Wells Fargo target raise
• Neutral Sentiment: Analyst and investor attention has been elevated, with recent coverage benchmarking Progressive against other property & casualty insurers and highlighting the stock’s strong operating track record.
• Negative Sentiment: The company’s combined ratio worsened to 90.2 from 84.9 a year earlier, indicating higher losses/expenses relative to premiums and raising questions about underwriting efficiency. Progressive April 2026 Financial Results
• Negative Sentiment: Revenue came in below some expectations in the company’s prior quarterly report, which may be tempering enthusiasm despite the strong April update.

Analysts Set New Price Targets

Several brokerages recently issued reports on PGR. Wells Fargo & Company upped their price objective on shares of Progressive from $218.00 to $222.00 and gave the company an "equal weight" rating in a research note on Thursday. Evercore reissued a "negative" rating on shares of Progressive in a research note on Wednesday, March 18th. Citigroup reduced their price objective on shares of Progressive from $300.60 to $261.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Argus raised shares of Progressive to a "hold" rating in a research note on Thursday, March 5th. Finally, Morgan Stanley reduced their price objective on shares of Progressive from $205.00 to $190.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $239.78.

Insider Buying and Selling at Progressive

In related news, CAO Carl G. Joyce sold 270 shares of the firm's stock in a transaction on Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the sale, the chief accounting officer directly owned 558 shares of the company's stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Maribel Pumarejo sold 739 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The SEC filing for this sale provides additional information. Insiders sold 6,933 shares of company stock worth $1,441,564 over the last three months. 0.32% of the stock is currently owned by insiders.

Progressive Price Performance

Progressive stock opened at $199.08 on Friday. The Progressive Corporation has a 52-week low of $191.75 and a 52-week high of $289.96. The firm has a fifty day moving average of $200.50 and a 200-day moving average of $210.29. The firm has a market capitalization of $116.33 billion, a P/E ratio of 10.12, a PEG ratio of 5.85 and a beta of 0.31. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (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 during the quarter, compared to analyst estimates of $23.51 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. The business's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, analysts predict that The Progressive Corporation will post 16.41 EPS for the current year.

Progressive Dividend Announcement

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

About Progressive

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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