Alamar Capital Management LLC Makes New Investment in The Progressive Corporation $PGR

Alamar Capital Management LLC purchased a new stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,550 shares of the insurance provider's stock, valued at approximately $3,083,000. Progressive accounts for 1.9% of Alamar Capital Management LLC's holdings, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 raised its position 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 lifted its holdings in Progressive by 8.9% in the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider's stock worth $3,398,123,000 after buying an additional 1,217,527 shares during the period. GQG Partners LLC lifted its holdings in 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 buying an additional 1,092,151 shares during the period. Finally, Norges Bank bought a new position in shares of Progressive during the fourth quarter valued at approximately $1,836,094,000. 85.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Steven Broz sold 1,157 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed 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 the stock in a transaction that occurred on 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 completion of the transaction, the director owned 22,546 shares in the company, valued at $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 quarter, insiders have sold 15,230 shares of company stock worth $3,165,817. 0.32% of the stock is owned by insiders.

Progressive Stock Performance

Shares of PGR opened at $204.57 on Thursday. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $254.93. The business's fifty day simple moving average is $209.39 and its two-hundred day simple moving average is $205.90. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $119.54 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.77 and a beta of 0.26.

Progressive Announces Dividend

The business 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. The ex-dividend date was Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's dividend payout ratio is 2.01%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. UBS Group raised their price objective on shares of Progressive from $220.00 to $230.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $250.00 price objective on shares of Progressive in a research report on Tuesday, July 14th. William Blair reiterated a "market perform" rating on shares of Progressive in a report on Wednesday, July 15th. Finally, Evercore set a $240.00 price objective on Progressive in a research report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $235.05.

More Progressive News

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

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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