Consulta Ltd Purchases New Shares in The Progressive Corporation $PGR

Key Points

• Consulta Ltd disclosed a new stake in Progressive, buying 276,435 shares valued at about $62.95 million. The position represents roughly 3.1% of its portfolio and is its 13th-largest holding.
• Progressive’s recent operating trends were strong, with May 2026 net income up 36%, premiums written up 6%, and its combined ratio improving to 82.1 from 86.9 a year earlier. Policies in force also rose 8% year over year to 39.97 million.
• Insider activity was mixed but leaned toward selling: insiders sold 7,343 shares over the last three months, including a June sale by Steven Broz under a pre-arranged trading plan. Meanwhile, analysts currently have a Hold consensus on PGR, with a consensus price target of $238.11.

Consulta Ltd purchased a new stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 276,435 shares of the insurance provider's stock, valued at approximately $62,950,000. Progressive makes up about 3.1% of Consulta Ltd's investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. Klingman & Associates LLC raised its stake in Progressive by 1.7% during the fourth quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider's stock valued at $667,000 after purchasing an additional 48 shares in the last quarter. Revisor Wealth Management LLC raised its stake in Progressive by 2.7% during the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider's stock valued at $395,000 after purchasing an additional 50 shares in the last quarter. Cullen Investment Group LTD. raised its stake in Progressive by 0.7% during the fourth quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider's stock valued at $1,606,000 after purchasing an additional 52 shares in the last quarter. Pines Wealth Management LLC raised its stake in Progressive by 3.9% during the fourth quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider's stock valued at $319,000 after purchasing an additional 52 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in Progressive by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider's stock valued at $4,267,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Buying and Selling

In related news, insider Steven Broz sold 1,157 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $231,400.00. Following the completion of the sale, the insider directly owned 28,668 shares of the company's stock, valued at $5,733,600. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Carl G. Joyce sold 270 shares of the company's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the sale, the chief accounting officer directly owned 558 shares of the company's stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,343 shares of company stock valued at $1,470,355 over the last three months. 0.32% of the stock is owned by company insiders.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported solid May 2026 results, with net premiums written up 6%, net premiums earned up 10%, net income up 36%, and the combined ratio improving to 82.1 from 86.9 a year ago, signaling stronger profitability and underwriting performance. Progressive Reports May 2026 Results
• Positive Sentiment: Policies in force rose 8% year over year to 39.97 million, showing continued growth in Progressive’s auto and personal lines business. Progressive names new leadership structure as profit jumps
• Positive Sentiment: BofA reportedly raised its price target on PGR to $331 and kept a Buy rating, reinforcing the bullish case after the strong monthly update. BofA Raises PT on The Progressive Corporation (PGR) Stock
• Neutral Sentiment: Progressive announced management changes, including the planned January 2027 retirement of Personal Lines President Pat Callahan and new roles for Lori Niederst and Heather Day; the succession plan is orderly, but it adds a layer of transition risk. Progressive Announces Management Changes
• Negative Sentiment: Jim Cramer said the “group is under a lot of pressure,” reflecting broader investor concern that auto insurers like Progressive may face margin pressure if inflation or claims trends worsen. Jim Cramer on Progressive Corporation: “That Group Is Under a Lot of Pressure”

Analysts Set New Price Targets

A number of research analysts have weighed in on PGR shares. UBS Group boosted their price objective on shares of Progressive from $218.00 to $220.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Evercore reiterated a "negative" rating on shares of Progressive in a research report on Wednesday, March 18th. Roth Mkm set a $235.00 price objective on shares of Progressive in a research report on Thursday, February 19th. Zacks Research upgraded shares of Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley cut their price objective 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. Six investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $238.11.

Progressive Trading Down 0.0%

NYSE PGR opened at $204.64 on Thursday. The company's 50-day moving average price is $199.73 and its 200-day moving average price is $207.42. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The stock has a market cap of $119.58 billion, a PE ratio of 10.40, a PEG ratio of 5.93 and a beta of 0.28. The Progressive Corporation has a 12 month low of $189.20 and a 12 month high of $267.92.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly 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. The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.37 earnings per share. Equities research analysts forecast that The Progressive Corporation will post 16.34 earnings per share for the current year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a 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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