C WorldWide Group Holding A S Lowers Holdings in The Progressive Corporation $PGR

Key Points

• C WorldWide Group Holding A S cut its Progressive stake by 8.2% in the first quarter, selling 61,795 shares and leaving it with 687,769 shares valued at about $136.3 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 85.34% of Progressive’s shares. Several funds added to positions, even as C WorldWide trimmed its stake.
• Analysts remain cautious overall: recent price target changes were mostly modest, and MarketBeat shows Progressive with an average rating of “Hold” and an average target price of $235.05.

C WorldWide Group Holding A S lowered its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 687,769 shares of the insurance provider's stock after selling 61,795 shares during the quarter. Progressive accounts for 2.9% of C WorldWide Group Holding A S's investment portfolio, making the stock its 14th largest holding. C WorldWide Group Holding A S owned 0.12% of Progressive worth $136,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PGR. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Progressive in the first quarter valued at about $4,834,000. Bessemer Group Inc. increased its position in Progressive by 19.4% during the 1st quarter. Bessemer Group Inc. now owns 27,683 shares of the insurance provider's stock worth $5,489,000 after purchasing an additional 4,492 shares during the period. Avalon Trust Co raised its stake in shares of Progressive by 0.7% during the 1st quarter. Avalon Trust Co now owns 120,024 shares of the insurance provider's stock worth $23,794,000 after buying an additional 799 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Progressive during the 1st quarter worth approximately $520,000. Finally, Enterprise Financial Services Corp lifted its holdings in shares of Progressive by 28.9% in the 1st quarter. Enterprise Financial Services Corp now owns 2,340 shares of the insurance provider's stock valued at $464,000 after buying an additional 524 shares during the period. Hedge funds and other institutional investors own 85.34% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PGR. Weiss Ratings downgraded Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $250.00 price objective on shares of Progressive in a research report on Tuesday. Bank of America reduced their target price on Progressive from $313.00 to $308.00 and set a "buy" rating for the company in a report on Thursday. Morgan Stanley lowered their price target 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. Finally, UBS Group increased their price target on shares of Progressive from $220.00 to $230.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $235.05.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported Q2 earnings above estimates and continued to expand its business, with net premiums written up 5% for the quarter and total policies in force up 7% year over year. Progressive Reports June 2026 Results
• Positive Sentiment: Analysts at Bank of America still rate PGR a buy, even after trimming their price target, suggesting Wall Street still sees meaningful upside from current levels. Benzinga report on Bank of America price target cut
• Neutral Sentiment: Several research firms lowered price targets after the quarter, but most kept market-perform or equivalent ratings, indicating cautious sentiment rather than a strong bearish call. Progressive Analysts Slash Their Forecasts After Q2 Results
• Negative Sentiment: Net income fell 31% in June and the combined ratio worsened, raising concerns that underwriting margins are under pressure in a softer, more competitive insurance environment. Reuters report on quarterly profit and auto insurance demand
• Negative Sentiment: Other commentary highlighted that shares sold off after the earnings release because investors were disappointed by margin concerns and weaker-than-expected profit quality despite the top-line growth. Seeking Alpha news on Q2 results

Insider Buying and Selling

In related news, insider John Jo Murphy sold 5,916 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider owned 41,290 shares of the company's stock, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the sale, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,230 shares of company stock worth $3,165,817 in the last ninety days. Insiders own 0.32% of the company's stock.

Progressive Stock Performance

NYSE:PGR opened at $206.14 on Friday. 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 firm has a 50-day moving average price of $208.49 and a two-hundred day moving average price of $206.49. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93. The company has a market capitalization of $120.46 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 3.85 and a beta of 0.26.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.37 earnings per share. As a group, research analysts expect that The Progressive Corporation will post 17.41 earnings per share for the current fiscal year.

Progressive Dividend Announcement

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. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive's payout ratio is currently 2.03%.

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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