The Progressive Corporation $PGR Stock Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in The Progressive Corporation (NYSE:PGR - Free Report) by 28.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,669 shares of the insurance provider's stock after buying an additional 25,259 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Progressive were worth $22,732,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Bard Associates Inc. acquired a new position in shares of Progressive in the fourth quarter worth $27,000. Dagco Inc. acquired a new stake in Progressive during the fourth quarter valued at $28,000. Bogart Wealth LLC boosted its position in Progressive by 235.1% during the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new position in Progressive in the fourth quarter valued at about $29,000. Finally, HHM Wealth Advisors LLC increased its position in Progressive by 700.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider's stock worth $29,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PGR shares. Weiss Ratings downgraded Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Bank of America lowered their price target on Progressive from $331.00 to $313.00 and set a "buy" rating for the company in a research note on Thursday, June 18th. Mizuho increased their price objective on Progressive from $217.00 to $243.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Morgan Stanley cut their price objective on shares of Progressive from $205.00 to $190.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Evercore set a $240.00 target price on shares of Progressive in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Progressive presently has a consensus rating of "Hold" and a consensus target price of $236.74.

Insider Buying and Selling

In other news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 of the company's stock, valued at $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Jo Murphy sold 5,916 shares of Progressive stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the transaction, the insider directly owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 15,230 shares of company stock worth $3,165,817. 0.32% of the stock is currently owned by insiders.

Progressive Price Performance

NYSE PGR opened at $205.09 on Thursday. The Progressive Corporation has a fifty-two week low of $189.20 and a fifty-two week high of $254.93. The stock's 50-day moving average is $208.29 and its two-hundred day moving average is $206.64. The firm has a market cap of $119.84 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 4.28 and a beta of 0.26. 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 released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (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 the consensus estimate 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 in the prior year, the company posted $4.37 EPS. On average, analysts anticipate that The Progressive Corporation will post 17.3 earnings per share for the current fiscal year.

Progressive Announces Dividend

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 payout ratio is 2.03%.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive beat second-quarter earnings estimates, reporting $5.67 per share versus consensus of $4.72, and revenue of $23.61 billion also topped expectations. Progressive Reports June 2026 Results
• Positive Sentiment: Premium growth remained solid, with net premiums written up 5% for the quarter and policies in force rising 7% year over year, showing continued customer demand. Progressive's Q2 Earnings Beat Estimates, Premiums Rise Y/Y
• Neutral Sentiment: The company’s quarterly growth was mixed overall: net income rose 4% for the quarter, but June net income fell sharply and the combined ratio worsened, suggesting higher claims or expense pressure. Progressive Reports June 2026 Results
• Negative Sentiment: Several reports pointed to margin concerns and a softer, more competitive insurance market, which appears to be driving the selloff despite the earnings beat. Why Progressive Insurance Fell Today
• Negative Sentiment: Investor reaction also reflected concern that recent results may not support much additional upside in the near term, with analysts highlighting valuation and margin pressure. PGR Stock On Track For Biggest One-Day Drop In 6 Months After Q2 Earnings – Analyst Sees Limited Upside For The Shares

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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