Clark Capital Management Group Inc. Sells 18,631 Shares of The Progressive Corporation $PGR

Key Points

• Clark Capital Management Group Inc. reduced its stake in The Progressive Corporation by 9.0%, selling 18,631 shares and leaving 189,457 shares valued at about $46.8 million at the end of the quarter.
• Other institutions made big moves — Vanguard modestly added shares while Capital International Investors and Capital Research Global Investors increased holdings by roughly 78.9% and 26.1% respectively — leaving institutions owning ~85.34% of PGR.
• Progressive declared a quarterly dividend of $0.10 (annualized $0.40, ~0.2% yield; ex-dividend April 2) and trades near $205 with a $120.2B market cap; analysts have an average rating of "Hold" and a consensus price target of $241.94 amid recent price-target cuts.

Clark Capital Management Group Inc. decreased its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,457 shares of the insurance provider's stock after selling 18,631 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Progressive were worth $46,786,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Progressive by 0.3% in the third quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider's stock worth $13,500,146,000 after acquiring an additional 151,240 shares during the period. Capital International Investors grew its position in shares of Progressive by 78.9% during the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider's stock valued at $3,384,082,000 after acquiring an additional 6,045,732 shares during the period. Capital Research Global Investors grew its position in shares of Progressive by 26.1% during the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider's stock valued at $2,757,905,000 after acquiring an additional 2,314,864 shares during the period. Alliancebernstein L.P. increased its stake in shares of Progressive by 32.8% in the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider's stock worth $2,928,141,000 after purchasing an additional 2,709,417 shares in the last quarter. Finally, Norges Bank bought a new position in Progressive in the 2nd quarter worth $2,156,939,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Stock Up 0.0%

NYSE PGR opened at $205.22 on Monday. 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. The stock has a market cap of $120.24 billion, a PE ratio of 10.67, a P/E/G ratio of 8.94 and a beta of 0.33. The stock's 50 day moving average is $206.96 and its 200 day moving average is $222.32.

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 $0.10 dividend. 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 payout ratio is 2.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America cut their price target on Progressive from $315.00 to $308.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. Citigroup decreased their price objective on Progressive from $300.60 to $261.00 and set a "buy" rating on the stock in a research note on Tuesday, February 3rd. Zacks Research raised Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. UBS Group cut their price objective on Progressive from $226.00 to $218.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Progressive from $220.00 to $214.00 and set an "equal weight" rating for the company in a report on Thursday, February 19th. Seven equities research 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's stock. According to data from MarketBeat, Progressive has an average rating of "Hold" and a consensus price target of $241.94.

Insider Transactions at Progressive

In other Progressive news, 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 in the company, valued at approximately $8,097,573.10. The trade was a 4.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karen Bailo sold 3,517 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 12,761 shares of company stock valued at $2,659,420. 0.33% of the stock is owned by corporate insiders.

Progressive News Roundup

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.