Banco Bilbao Vizcaya Argentaria S.A. Sells 22,995 Shares of The Progressive Corporation $PGR

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. trimmed its stake in The Progressive Corporation by 24.7%, selling 22,995 shares and ending the quarter with 70,044 shares worth about $17.29 million.
• Progressive declared a quarterly dividend of $0.10 per share (annualized $0.40), with an ex-dividend and record date of April 2 and a payment date of April 10, implying a yield of roughly 0.2%.
• Market and analyst sentiment is mixed—Goldman Sachs and others highlight strength, but several firms have cut targets and Progressive’s CFO is retiring; the consensus rating is Hold with an average price target of $241.94.

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 24.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,044 shares of the insurance provider's stock after selling 22,995 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Progressive were worth $17,292,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bell Investment Advisors Inc grew its stake in shares of Progressive by 20.8% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider's stock worth $68,000 after buying an additional 44 shares in the last quarter. Maia Wealth LLC raised its position in shares of Progressive by 5.4% during the 2nd quarter. Maia Wealth LLC now owns 857 shares of the insurance provider's stock valued at $229,000 after buying an additional 44 shares in the last quarter. Selective Wealth Management Inc. lifted its holdings in shares of Progressive by 2.1% in the 3rd quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider's stock valued at $538,000 after acquiring an additional 45 shares during the last quarter. Liberty One Investment Management LLC grew its position in Progressive by 3.8% in the third quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider's stock worth $319,000 after acquiring an additional 47 shares in the last quarter. Finally, True Wealth Design LLC grew its position in Progressive by 20.8% in the third quarter. True Wealth Design LLC now owns 279 shares of the insurance provider's stock worth $69,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Progressive Stock Performance

Shares of Progressive stock opened at $205.22 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock's fifty day moving average is $206.96 and its two-hundred day moving average is $222.32. The Progressive Corporation has a 52 week low of $197.92 and a 52 week high of $292.99. The company has a market capitalization of $120.24 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 8.94 and a beta of 0.33.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive's dividend payout ratio (DPR) is 2.08%.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Goldman Sachs and other outlets continue to highlight Progressive as an attractive insurance investment, reaffirming confidence in the company’s strong 2025 results and long-term growth prospects. Goldman Sachs Names The Progressive Corporation (PGR) among Appealing Insurance Investments
• Positive Sentiment: MarketBeat’s roundup places Progressive alongside Chubb and Arch as defensive, cash-generative insurers benefiting from steady premiums and rising investment income—supporting investor interest in PGR as a sector play. Looking to Insure Your Portfolio? Start With These 3 Stocks
• Neutral Sentiment: Comparative analysis pieces reviewing Progressive vs. peers provide context for investors but contain no new company-specific catalysts; useful for positioning and valuation checks. Head-To-Head Analysis: First American Financial NYSE: FAF & Progressive NYSE: PGR
• Neutral Sentiment: Press about Progressive Planet Solutions (a different ticker, PLAN) reporting record Q3 revenue is unrelated to PGR’s fundamentals but can cause occasional ticker-confusion among retail investors. Progressive Planet Posts Record Q3 Revenue but Takes One-Time Charges to Fund Growth
• Negative Sentiment: Progressive announced that CFO John Sauerland will retire after a 35-year tenure. Leadership transitions at the finance level can raise short-term uncertainty around execution and capital allocation. Progressive (PGR) CFO John Sauerland to Retire After 35-Year Tenure
• Negative Sentiment: BMO Capital Markets cut its PGR price target to $208, signaling reduced near-term upside and contributing to analyst-driven selling pressure. Progressive NYSE: PGR Price Target Cut to $208.00 by Analysts at BMO Capital Markets
• Negative Sentiment: Bank of America published a pessimistic forecast for PGR’s stock, adding to downside sentiment from institutional analysts. Bank of America Issues Pessimistic Forecast for Progressive NYSE: PGR Stock Price
• Negative Sentiment: Some commentary (The Motley Fool) suggests Progressive’s exceptional 2025 results “may have been too good to last,” raising concerns about reversion to mean in underwriting or investment results. 3 Dirt-Cheap Stocks to Buy With $1,000 Right Now

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Bank of America decreased their price objective on Progressive from $315.00 to $308.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. The Goldman Sachs Group reiterated a "buy" rating and issued a $225.00 target price on shares of Progressive in a report on Monday, February 23rd. Roth Mkm set a $235.00 target price on Progressive in a research report on Thursday, February 19th. Keefe, Bruyette & Woods raised their price target on Progressive from $225.00 to $232.00 and gave the stock a "market perform" rating in a research report on Thursday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Progressive from $220.00 to $214.00 and set an "equal weight" rating for the company in a research note on Thursday, February 19th. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Progressive currently has a consensus rating of "Hold" and an average price target of $241.94.

Insider Activity

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the firm's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total transaction of $150,201.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $336,973.15. Following the sale, the insider directly owned 39,626 shares of the company's stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,761 shares of company stock valued at $2,659,420. Insiders own 0.33% of the company's stock.

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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