ProShare Advisors LLC Raises Stock Position in The Progressive Corporation $PGR

Key Points

• ProShare Advisors LLC increased its stake in Progressive by 4.2% in the fourth quarter, adding 5,298 shares and bringing its total holdings to 131,465 shares valued at about $29.9 million.
• Progressive’s latest results showed solid operating growth, with April net premiums written up 6% and net income rising 10% year over year to $1.09 billion, while earnings per share climbed 11% to $1.86.
• Despite the positive growth, underwriting performance weakened as the combined ratio worsened to 90.2 from 84.9 a year earlier, and Wall Street currently rates the stock a consensus “Hold” with an average price target of $238.33.

ProShare Advisors LLC grew its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,465 shares of the insurance provider's stock after purchasing an additional 5,298 shares during the quarter. ProShare Advisors LLC's holdings in Progressive were worth $29,937,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PGR. Brighton Jones LLC boosted its position in Progressive by 15.6% during the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after acquiring an additional 457 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Progressive in the 4th quarter worth approximately $269,000. Bison Wealth LLC raised 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 worth $615,000 after acquiring an additional 80 shares in the last quarter. HUB Investment Partners LLC lifted its stake in shares of Progressive by 7.8% in the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider's stock valued at $609,000 after purchasing an additional 166 shares during the period. Finally, Diversify Wealth Management LLC boosted its position in shares of Progressive by 12.0% during the second 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 in the last quarter. Institutional investors own 85.34% of the company's stock.

Wall Street Analysts Forecast Growth

PGR has been the topic of several recent research reports. Evercore reaffirmed a "negative" rating on shares of Progressive in a research note on Wednesday, March 18th. Weiss Ratings cut shares of Progressive from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Argus raised shares of Progressive to a "hold" rating in a research report on Thursday, March 5th. UBS Group increased their price target on shares of Progressive from $218.00 to $220.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Finally, Zacks Research raised shares of Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. 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, Progressive presently has an average rating of "Hold" and an average price target of $238.33.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: April net premiums written rose 6% year over year to $7.28 billion, while net premiums earned increased 7%, signaling continued top-line growth for Progressive’s insurance business. Progressive Reports April 2026 Results
• Positive Sentiment: Net income increased 10% to $1.09 billion, and earnings per share rose 11% to $1.86, showing stronger profitability year over year. Progressive Releases April 2026 Financial Results Update
• Positive Sentiment: Policies in force grew 8% to 39.77 million, with strength in personal auto and commercial lines suggesting the company is still expanding its customer base. The Progressive Corporation Reports April 2026 Financial Results with Increased Net Income and Premium Growth
• Neutral Sentiment: The combined ratio worsened to 90.2 from 84.9 a year earlier, indicating less favorable underwriting performance and a possible margin headwind.
• Neutral Sentiment: Investor attention has also been elevated, with the stock among the more closely watched names recently, but that alone does not change fundamentals.
• Negative Sentiment: A higher combined ratio and reliance on large securities gains to support earnings may raise questions about how sustainable recent profitability is if investment income normalizes. Progressive sees 6% Y/Y increase in April net premiums written

Insider Activity

In related news, CAO Carl G. Joyce sold 270 shares of the firm'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 transaction of $55,755.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CIO Jonathan S. Bauer sold 2,266 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $203.05, for a total transaction of $460,111.30. Following the completion of the transaction, the executive owned 26,250 shares of the company's stock, valued at approximately $5,330,062.50. The trade was a 7.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,933 shares of company stock valued at $1,441,564 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Progressive Trading Down 0.0%

Progressive stock opened at $202.79 on Thursday. The Progressive Corporation has a 12 month low of $191.75 and a 12 month high of $289.96. The company has a market capitalization of $118.50 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 5.86 and a beta of 0.31. The business's fifty day simple moving average is $200.65 and its two-hundred day simple moving average is $210.34. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26.

Progressive (NYSE:PGR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company's revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $4.37 earnings per share. As a group, equities analysts predict that The Progressive Corporation will post 16.4 earnings per share for the current fiscal year.

Progressive Announces Dividend

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

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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