Midwest Trust Co Sells 8,452 Shares of The Progressive Corporation $PGR

Key Points

• Midwest Trust Co reduced its stake in Progressive by 25.6% in Q1, selling 8,452 shares and leaving it with 24,558 shares worth about $4.87 million.
• Other institutional activity was mixed, but institutions and hedge funds still own a large majority of the stock, at 85.34%.
• Progressive continues to draw attention from analysts: Mizuho raised its price target to $243 and the company reported better-than-expected quarterly EPS of $4.80, though revenue came in below estimates.

Midwest Trust Co trimmed its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 25.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,558 shares of the insurance provider's stock after selling 8,452 shares during the quarter. Midwest Trust Co's holdings in Progressive were worth $4,868,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PGR. Brighton Jones LLC increased its holdings in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock worth $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Progressive in the fourth quarter valued at $269,000. Bison Wealth LLC grew its position in shares of Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock valued at $615,000 after acquiring an additional 80 shares during the period. HUB Investment Partners LLC increased its stake in shares of Progressive by 7.8% during the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider's stock worth $609,000 after purchasing an additional 166 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in shares of Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider's stock valued at $3,681,000 after purchasing an additional 1,622 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Insiders Place Their Bets

In related news, Director Jeffrey D. Kelly sold 7,000 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 1,157 shares of the business's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total value of $236,907.32. Following the completion of the transaction, the insider directly owned 27,511 shares of the company's stock, valued at approximately $5,633,152.36. This trade represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,230 shares of company stock worth $3,165,817 in the last 90 days. Company insiders own 0.32% of the company's stock.

Key Progressive News

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 Performance

PGR opened at $230.59 on Monday. The business has a fifty day simple moving average of $206.90 and a 200 day simple moving average of $206.76. The company has a market capitalization of $134.74 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 4.36 and a beta of 0.26. The Progressive Corporation has a 1 year low of $189.20 and a 1 year high of $254.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27.

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

Progressive Dividend Announcement

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

Analyst Ratings Changes

PGR has been the subject of several recent analyst reports. Wells Fargo & Company downgraded shares of Progressive from an "equal weight" rating to an "underweight" rating and set a $205.00 target price for the company. in a research note on Monday, June 29th. Mizuho upped their price objective on Progressive from $217.00 to $243.00 and gave the company a "neutral" rating in a research note on Thursday. 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. Weiss Ratings downgraded Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada set a $208.00 target price on Progressive in a report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $238.05.

Progressive 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.

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.