Candriam S.C.A. Decreases Position in The Progressive Corporation $PGR

Key Points

• Candriam S.C.A. cut its stake in The Progressive Corporation by 46% in the first quarter, leaving it with 130,199 shares worth about $25.8 million.
• Several other institutional investors and hedge funds adjusted their positions in Progressive (PGR), and the stock remains heavily owned by institutions at 85.34%.
• Analyst sentiment is mixed but mostly cautious: the consensus rating is Hold, with a consensus price target of $238.05, while recent target changes ranged from underweight to neutral and higher price objectives.

Candriam S.C.A. lessened its position in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 46.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,199 shares of the insurance provider's stock after selling 110,848 shares during the quarter. Candriam S.C.A.'s holdings in Progressive were worth $25,811,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PGR. Allstate Corp raised its stake in Progressive by 106.1% in the 4th quarter. Allstate Corp now owns 44,513 shares of the insurance provider's stock valued at $10,136,000 after purchasing an additional 22,915 shares during the last quarter. Norges Bank acquired a new stake in shares of Progressive during the 4th quarter worth about $1,836,094,000. Mariner LLC grew its holdings in shares of Progressive by 7.9% during the third quarter. Mariner LLC now owns 644,636 shares of the insurance provider's stock worth $159,183,000 after buying an additional 47,248 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Progressive by 5.7% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider's stock valued at $411,506,000 after buying an additional 97,275 shares during the last quarter. Finally, Investment House LLC purchased a new position in shares of Progressive during the fourth quarter valued at approximately $8,447,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the transaction, the insider directly owned 41,290 shares of the company's stock, valued at $8,258,000. The trade was a 12.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the firm'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 owned 27,511 shares in the company, valued at $5,633,152.36. The trade was a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,230 shares of company stock worth $3,165,817 in the last three months. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group boosted their price objective on Progressive from $220.00 to $230.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. Wells Fargo & Company cut Progressive from an "equal weight" rating to an "underweight" rating and set a $205.00 price target for the company. in a report on Monday, June 29th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $220.00 price objective on shares of Progressive in a research report on Wednesday, May 20th. Morgan Stanley reduced their target price on shares of Progressive from $205.00 to $190.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Mizuho upped their target price on shares of Progressive from $217.00 to $243.00 and gave the company a "neutral" rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $238.05.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the insurer’s near-term upside. Mizuho Raises Progressive Price Target
• Positive Sentiment: DOWLING & PARTNERS increased its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the broader consensus of $17.28, which suggests analysts see continued earnings strength. Progressive Analyst Estimate Increase
• Positive Sentiment: One recent commentary piece argued that improving underwriting trends and a possible index-exit effect could be a “game changer” for Progressive, reinforcing the bullish view that fundamentals may support the stock. Index Exit and Upbeat Underwriting Trends Could Be A Game Changer For Progressive
• Neutral Sentiment: Another article said Progressive still looks fully valued after Russell Growth Index exits, which could limit enthusiasm even though it does not change the company’s operating outlook. Progressive After Russell Growth Index Exits Still Looks Fully Valued
• Neutral Sentiment: A comparison piece versus Allstate argued that Progressive’s valuation remains premium relative to peers, highlighting a potential headwind for multiple expansion rather than a direct business concern. Allstate Vs. Progressive: Buy Allstate’s Deep-Value Multiple Not Progressive’s Premium Run

Progressive Stock Up 0.5%

Shares of PGR stock traded up $1.07 during trading hours on Friday, hitting $230.59. 1,477,630 shares of the company were exchanged, compared to its average volume of 3,432,770. The stock has a market capitalization of $134.74 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 4.36 and a beta of 0.26. The Progressive Corporation has a one year low of $189.20 and a one year high of $254.93. The business's 50-day simple moving average is $206.90 and its two-hundred day simple moving average is $206.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts' consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same quarter last year, the business posted $4.37 EPS. Progressive's quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts predict that The Progressive Corporation will post 17.3 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive's dividend payout ratio is 2.03%.

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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