The Progressive Corporation $PGR Shares Purchased by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its stake in Progressive by 3.1% in the first quarter, bringing its holdings to 556,076 shares worth about $110.2 million. The move reflects continued institutional interest, with hedge funds and other institutions owning 85.34% of the stock.
• Insiders have been selling shares, including Director Jeffrey D. Kelly and insider Steven Broz, while total insider ownership remains low at 0.32%. Kelly’s sale was the larger of the two, totaling 7,000 shares for about $1.51 million.
• Analysts remain mixed but generally constructive on Progressive: Mizuho lifted its price target to $243 and DOWLING & PARTNERS raised its FY2026 EPS estimate, while the broader consensus rating is “Hold” with an average target price of $238.05. The stock also recently beat quarterly EPS estimates, reporting $4.80 per share versus $4.67 expected.

AMF Tjanstepension AB boosted its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 556,076 shares of the insurance provider's stock after acquiring an additional 16,601 shares during the period. AMF Tjanstepension AB owned about 0.10% of Progressive worth $110,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PGR. Bard Associates Inc. purchased a new stake in Progressive during the 4th quarter worth approximately $27,000. Dagco Inc. purchased a new position in shares of Progressive in the fourth quarter valued at approximately $28,000. Bogart Wealth LLC lifted its position in shares of Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. IFC & Insurance Marketing Inc. purchased a new stake in shares of Progressive during the fourth quarter worth approximately $29,000. Finally, HHM Wealth Advisors LLC increased its position in shares of Progressive by 700.0% during the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider's stock worth $29,000 after purchasing an additional 126 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Progressive

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

Progressive News Summary

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 Price Performance

NYSE:PGR opened at $230.59 on Monday. The Progressive Corporation has a 52 week low of $189.20 and a 52 week high of $254.93. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $134.74 billion, a P/E ratio of 11.72, a P/E/G ratio of 4.36 and a beta of 0.26. The stock's fifty day moving average is $206.90 and its two-hundred day moving average is $206.76.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results 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 net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. During the same quarter last year, the firm posted $4.37 earnings per share. Progressive's revenue was up 6.5% compared to the same quarter last year. Equities analysts expect that The Progressive Corporation will post 17.3 EPS for the current year.

Progressive Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PGR shares. HSBC raised their price objective on Progressive from $214.00 to $221.00 and gave the company a "hold" rating in a report on Monday, July 6th. Bank of America dropped their target price on shares of Progressive from $331.00 to $313.00 and set a "buy" rating for the company in a report on Thursday, June 18th. Weiss Ratings cut shares of Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Evercore set a $240.00 price target on shares of Progressive in a research report on Friday. Finally, Mizuho upped their price objective on shares of Progressive from $217.00 to $243.00 and gave the company a "neutral" rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $238.05.

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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