The Progressive Corporation $PGR Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System trimmed its stake in Progressive by 9.2%, selling 196,435 shares and leaving it with 1,933,341 shares valued at about $477.4 million; institutional investors now own roughly 85.34% of the stock.
• Progressive declared a quarterly dividend of $0.10 per share (annualized $0.40, ~0.2% yield), with an ex-dividend date of April 2 and payment on April 10.
• Analyst and company developments create mixed sentiment: the consensus rating is a "Hold" with an average price target of $241.94, while recent cuts (e.g., BMO to $208) and the announced retirement of CFO John Sauerland add short-term downside risk.

California Public Employees Retirement System lowered its position in The Progressive Corporation (NYSE:PGR - Free Report) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,933,341 shares of the insurance provider's stock after selling 196,435 shares during the quarter. California Public Employees Retirement System owned 0.33% of Progressive worth $477,439,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Davis Capital Management purchased a new position in Progressive in the third quarter valued at about $25,000. Howard Hughes Medical Institute purchased a new stake in Progressive during the 2nd quarter worth approximately $34,000. Ameriflex Group Inc. increased its holdings in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider's stock worth $31,000 after purchasing an additional 65 shares during the last quarter. TruNorth Capital Management LLC raised its position in shares of Progressive by 450.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 135 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of Progressive by 41.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 196 shares of the insurance provider's stock valued at $48,000 after buying an additional 57 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Price Performance

PGR opened at $205.22 on Friday. The firm has a market cap of $120.24 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 8.94 and a beta of 0.33. The Progressive Corporation has a fifty-two week low of $197.92 and a fifty-two week high of $292.99. The company's 50-day moving average price is $206.96 and its 200 day moving average price is $222.48. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's payout ratio is currently 2.08%.

Key Progressive News

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

Analysts Set New Price Targets

PGR has been the subject of a number of recent analyst reports. Zacks Research raised shares of Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Bank of America reduced their price objective on shares of Progressive from $315.00 to $308.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Piper Sandler reissued an "overweight" rating and issued a $259.00 target price on shares of Progressive in a research report on Monday, March 2nd. 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 note on Thursday, February 19th. Finally, Jefferies Financial Group set a $216.00 price target on shares of Progressive in a research report on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $241.94.

Insider Activity

In related news, insider Andrew J. Quigg sold 1,649 shares of the company's stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider directly owned 39,626 shares in the company, valued at $8,097,573.10. This represents a 4.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Maribel Pumarejo sold 739 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. The disclosure for this sale is available in the SEC filing. Insiders sold 12,761 shares of company stock worth $2,659,420 over the last 90 days. Insiders own 0.34% of the company's stock.

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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