Brown Brothers Harriman & Co. Sells 26,689 Shares of The Progressive Corporation $PGR

Key Points

• Brown Brothers Harriman reduced its stake in The Progressive Corporation by 2.6%, selling 26,689 shares and now holds 1,002,661 shares (about $247.6M), making PGR its 18th-largest holding.
• Company insiders have sold 12,761 shares worth roughly $2.66M in the past 90 days (including sales by Maribel Pumarejo and CIO Jonathan S. Bauer), leaving insiders with about 0.34% ownership.
• Analysts hold a consensus "Hold" rating with a $241.94 average price target amid mixed analyst moves (BMO cut to $208, Bank of America cautious); Progressive also announced a quarterly dividend of $0.10 per share (0.2% yield) and the CFO’s upcoming retirement.

Brown Brothers Harriman & Co. decreased its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,002,661 shares of the insurance provider's stock after selling 26,689 shares during the quarter. Progressive comprises 1.5% of Brown Brothers Harriman & Co.'s holdings, making the stock its 18th largest holding. Brown Brothers Harriman & Co. owned 0.17% of Progressive worth $247,607,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its position in Progressive by 30.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider's stock worth $25,381,000 after acquiring an additional 23,833 shares during the last quarter. Allstate Corp raised its holdings in Progressive by 1,614.1% in the 3rd quarter. Allstate Corp now owns 21,598 shares of the insurance provider's stock worth $5,334,000 after purchasing an additional 20,338 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Progressive by 91.7% in the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider's stock worth $2,892,000 after buying an additional 5,600 shares during the period. Mather Group LLC. boosted its position in shares of Progressive by 40.6% during the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider's stock valued at $4,159,000 after purchasing an additional 4,865 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Progressive by 471.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider's stock worth $5,556,000 after buying an additional 18,558 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Insider Activity at Progressive

In other news, insider Maribel Pumarejo sold 739 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $203.25, for a total value of $150,201.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $634,506.75. Following the sale, the executive owned 26,249 shares of the company's stock, valued at $5,363,983.15. This represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,761 shares of company stock worth $2,659,420 in the last 90 days. Company insiders own 0.34% 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

Progressive Trading Up 0.0%

Shares of NYSE:PGR opened at $205.22 on Friday. The stock has a 50 day moving average of $206.96 and a 200 day moving average of $222.64. The company has a market cap 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. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Progressive Dividend Announcement

The company also recently disclosed 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. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive's dividend payout ratio (DPR) is presently 2.08%.

Analysts Set New Price Targets

Several research analysts have issued reports on PGR shares. JPMorgan Chase & Co. decreased their target price on shares of Progressive from $303.00 to $275.00 and set an "overweight" rating for the company in a report on Wednesday, January 7th. Barclays upgraded shares of Progressive from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $257.00 to $265.00 in a research note on Thursday, January 8th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Progressive in a research note on Monday, December 29th. Jefferies Financial Group set a $216.00 price target on Progressive in a research note on Wednesday, February 11th. Finally, BMO Capital Markets reduced their price objective on Progressive from $232.00 to $208.00 and set a "market perform" rating for the company in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Progressive has an average rating of "Hold" and a consensus price target of $241.94.

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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