Earnest Partners LLC Sells 25,310 Shares of The Progressive Corporation $PGR

Key Points

• Earnest Partners LLC trimmed its stake in The Progressive Corporation by 6.4%, selling 25,310 shares in Q3 and now holds 371,098 shares valued at about $91.6 million.
• Other institutions were net buyers—Capital International Investors added roughly 6.05 million shares and Norges Bank established a new position worth about $2.16 billion—leaving institutions owning 85.34% of PGR.
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and a $241.94 target; Progressive also announced a quarterly dividend of $0.10 (0.2% yield) while insiders modestly reduced holdings.

Earnest Partners LLC trimmed its holdings in The Progressive Corporation (NYSE:PGR - Free Report) by 6.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 371,098 shares of the insurance provider's stock after selling 25,310 shares during the quarter. Earnest Partners LLC owned about 0.06% of Progressive worth $91,643,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PGR. Norges Bank acquired a new position in shares of Progressive during the second quarter worth approximately $2,156,939,000. Capital International Investors increased its holdings in shares of Progressive by 78.9% in the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider's stock valued at $3,384,082,000 after purchasing an additional 6,045,732 shares in the last quarter. Alliancebernstein L.P. raised its position in 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 during the last quarter. Capital Research Global Investors raised its position in Progressive by 26.1% in the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider's stock worth $2,757,905,000 after purchasing an additional 2,314,864 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Progressive by 185.4% during the 3rd quarter. Two Sigma Investments LP now owns 928,549 shares of the insurance provider's stock worth $229,305,000 after buying an additional 603,208 shares in the last quarter. Institutional investors own 85.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PGR. The Goldman Sachs Group reiterated a "buy" rating and issued a $225.00 price objective on shares of Progressive in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Progressive in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their price objective on Progressive from $303.00 to $275.00 and set an "overweight" rating for the company in a research report on Wednesday, January 7th. Roth Mkm set a $235.00 price objective on Progressive in a research report on Thursday, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Progressive from $220.00 to $214.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of "Hold" and a consensus target price of $241.94.

Insiders Place Their Bets

In other news, insider Steven Broz sold 1,344 shares of Progressive stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the sale, the insider directly owned 26,354 shares in the company, valued at $5,924,379.20. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maribel Pumarejo sold 739 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,761 shares of company stock worth $2,659,420 in the last quarter. Insiders own 0.34% of the company's stock.

Progressive Stock Performance

PGR stock opened at $205.22 on Friday. The stock's 50 day simple moving average is $206.96 and its 200 day simple moving average is $222.48. 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 Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The stock has a market capitalization 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.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive's dividend payout ratio (DPR) is presently 2.08%.

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 Company 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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