Brevan Howard Capital Management LP Has $4.01 Million Position in The Progressive Corporation $PGR

Key Points

• Brevan Howard Capital Management LP cut its stake in The Progressive Corporation by 87.2% in Q3, selling 110,448 shares and retaining 16,240 shares valued at $4.01 million.
• Investor and analyst activity is mixed: several institutional buyers (e.g., Capitolis, Bank of Nova Scotia) increased positions while analysts have trimmed targets and ratings, leaving a consensus Hold with an average price target of $241.94.
• Progressive said CFO John Sauerland will retire, a move that may create short-term uncertainty, and announced a quarterly dividend of $0.10 (annualized $0.40, ~0.2% yield) with an ex-dividend date of April 2.

Brevan Howard Capital Management LP cut its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 87.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,240 shares of the insurance provider's stock after selling 110,448 shares during the quarter. Brevan Howard Capital Management LP's holdings in Progressive were worth $4,010,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capitolis Liquid Global Markets LLC raised its holdings in Progressive by 13.9% in the 3rd quarter. Capitolis Liquid Global Markets LLC now owns 674,500 shares of the insurance provider's stock valued at $166,568,000 after acquiring an additional 82,300 shares during the period. Ausdal Financial Partners Inc. boosted its holdings in shares of Progressive by 36.4% during the third quarter. Ausdal Financial Partners Inc. now owns 1,462 shares of the insurance provider's stock worth $361,000 after acquiring an additional 390 shares during the period. Bridgefront Capital LLC boosted its holdings in shares of Progressive by 144.1% during the third quarter. Bridgefront Capital LLC now owns 4,420 shares of the insurance provider's stock worth $1,092,000 after acquiring an additional 2,609 shares during the period. Chilton Investment Co. Inc. grew its position in shares of Progressive by 17.2% in the third quarter. Chilton Investment Co. Inc. now owns 656,569 shares of the insurance provider's stock valued at $162,140,000 after purchasing an additional 96,238 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Progressive by 71.9% in the third quarter. Bank of Nova Scotia now owns 657,228 shares of the insurance provider's stock valued at $162,301,000 after purchasing an additional 274,851 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Key Stories Impacting Progressive

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 Analysts Forecast Growth

PGR has been the subject of several research reports. Zacks Research raised Progressive from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Citigroup decreased their price objective on Progressive from $300.60 to $261.00 and set a "buy" rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Progressive in a research report on Monday, December 29th. Jefferies Financial Group set a $216.00 target price on Progressive in a report on Wednesday, February 11th. Finally, Morgan Stanley reduced their target price on shares of Progressive from $214.00 to $205.00 and set an "underweight" rating for the company in a research report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Progressive has an average rating of "Hold" and a consensus price target of $241.94.

Progressive Trading Up 0.0%

Shares of NYSE:PGR opened at $205.22 on Monday. The business's 50 day simple moving average is $206.96 and its 200 day simple moving average is $222.32. The Progressive Corporation has a 1 year low of $197.92 and a 1 year high of $292.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $120.24 billion, a P/E ratio of 10.67, a P/E/G ratio of 8.94 and a beta of 0.33.

Progressive Dividend Announcement

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive's dividend payout ratio is 2.08%.

Insider Buying and Selling

In other Progressive news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Broz sold 1,344 shares of the firm's stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the transaction, the insider directly owned 26,354 shares in the company, valued at approximately $5,924,379.20. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,761 shares of company stock valued at $2,659,420 in the last ninety days. 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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