Leonteq Securities AG Makes New $1.15 Million Investment in The Progressive Corporation $PGR

Key Points

• Leonteq Securities AG opened a new position in Progressive, buying 5,027 shares worth about $1.15 million in the fourth quarter.
• Progressive recently reported better-than-expected quarterly earnings of $4.80 per share, though revenue came in below analyst estimates. The company also said April net premiums written rose 6% year over year, but its combined ratio worsened to 90.2.
• The stock was trading down about 1.7% around $199, and analysts currently have a Hold consensus with a target price of $239.78. Progressive also declared a quarterly dividend of $0.10 per share, payable July 10.

Leonteq Securities AG purchased a new position in The Progressive Corporation (NYSE:PGR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,027 shares of the insurance provider's stock, valued at approximately $1,145,000.

A number of other institutional investors have also bought and sold shares of PGR. Dagco Inc. purchased a new position in shares of Progressive during the fourth quarter valued at about $28,000. Ameriflex Group Inc. grew its position in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 65 shares in the last quarter. Entrust Financial LLC purchased a new position in shares of Progressive during the fourth quarter valued at about $33,000. Bangor Savings Bank grew its position in shares of Progressive by 60.4% during the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider's stock valued at $35,000 after purchasing an additional 58 shares in the last quarter. Finally, Riverview Trust Co grew its position in shares of Progressive by 48.6% during the fourth quarter. Riverview Trust Co now owns 162 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Progressive Trading Down 1.7%

PGR opened at $199.08 on Friday. The firm has a market cap of $116.33 billion, a P/E ratio of 10.12, a P/E/G ratio of 5.85 and a beta of 0.31. The Progressive Corporation has a 12 month low of $191.75 and a 12 month high of $289.96. 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 50-day moving average of $200.50 and a 200 day moving average of $210.29.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping the consensus estimate of $4.67 by $0.13. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $4.37 earnings per share. As a group, research analysts forecast that The Progressive Corporation will post 16.41 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a $0.10 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive's dividend payout ratio (DPR) is currently 2.03%.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported April net premiums written rose 6% year over year to $7.28 billion, while net income increased 10% and EPS climbed to $1.86, signaling continued top-line growth and profitability. Progressive Reports April 2026 Results
• Positive Sentiment: Wells Fargo raised its price target on PGR to $222 from $218, suggesting some Wall Street confidence in the stock’s valuation. Benzinga coverage of Wells Fargo target raise
• Neutral Sentiment: Analyst and investor attention has been elevated, with recent coverage benchmarking Progressive against other property & casualty insurers and highlighting the stock’s strong operating track record.
• Negative Sentiment: The company’s combined ratio worsened to 90.2 from 84.9 a year earlier, indicating higher losses/expenses relative to premiums and raising questions about underwriting efficiency. Progressive April 2026 Financial Results
• Negative Sentiment: Revenue came in below some expectations in the company’s prior quarterly report, which may be tempering enthusiasm despite the strong April update.

Insider Buying and Selling

In related news, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Carl G. Joyce sold 270 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the transaction, the chief accounting officer owned 558 shares of the company's stock, valued at $115,227. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 6,933 shares of company stock worth $1,441,564. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PGR. Roth Mkm set a $235.00 price objective on Progressive in a research report on Thursday, February 19th. UBS Group raised their price objective on Progressive from $218.00 to $220.00 and gave the company a "neutral" rating in a research report on Monday, March 23rd. Morgan Stanley cut their price objective on Progressive from $205.00 to $190.00 and set an "underweight" rating for the company in a research report on Tuesday, March 31st. Mizuho cut their price objective on Progressive from $235.00 to $223.00 and set a "neutral" rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings lowered Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $239.78.

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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