The Progressive Corporation $PGR Stock Position Raised by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust increased its stake in Progressive by 5.7% in Q4 to 1,807,068 shares—about 0.31% of the company—valued at roughly $411.5 million.
• Insiders sold 11,687 shares (~$2.41M) in the past three months while institutional investors own 85.34% of the stock, a dynamic that could weigh on the share price near-term.
• Analyst sentiment is mixed, with six Buys, fourteen Holds and two Sells resulting in an average rating of "Hold" and an average target price of $237.33 after several recent downgrades.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,807,068 shares of the insurance provider's stock after acquiring an additional 97,275 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.31% of Progressive worth $411,506,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of Progressive in the fourth quarter valued at $269,000. Bison Wealth LLC lifted its holdings in shares of Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in shares of Progressive by 7.8% in the second 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 in the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in shares of Progressive by 12.0% in 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. 85.34% of the stock is owned by institutional investors.

Progressive Price Performance

Shares of NYSE:PGR opened at $194.29 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 1 year low of $192.02 and a 1 year high of $289.96. The business has a fifty day simple moving average of $203.75 and a 200 day simple moving average of $216.18. The firm has a market cap of $113.65 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 5.60 and a beta of 0.34.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were paid a $0.10 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's payout ratio is 2.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho reduced their target price on Progressive from $235.00 to $223.00 and set a "neutral" rating for the company in a report on Friday, March 20th. Keefe, Bruyette & Woods reduced their target price on Progressive from $227.00 to $210.00 and set a "market perform" rating for the company in a report on Tuesday, April 7th. Morgan Stanley reduced their target price on Progressive from $205.00 to $190.00 and set an "underweight" rating for the company in a report on Tuesday, March 31st. The Goldman Sachs Group restated a "buy" rating and issued a $225.00 target price on shares of Progressive in a report on Monday, February 23rd. Finally, UBS Group increased their target price on Progressive from $218.00 to $220.00 and gave the company a "neutral" rating in a report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Progressive presently has an average rating of "Hold" and an average target price of $237.33.

Insider Transactions at Progressive

In other news, CIO Jonathan S. Bauer sold 2,266 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total transaction of $460,111.30. Following the transaction, the executive owned 26,250 shares in the company, valued at approximately $5,330,062.50. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider directly owned 32,348 shares of the company's stock, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,687 shares of company stock valued at $2,413,044. Insiders own 0.32% of the company's stock.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Barclays reaffirmed its buy rating on PGR, supporting demand from buy-side holders and signaling confidence from a major broker. Barclays Reaffirms Their Buy Rating on Progressive (PGR)
• Positive Sentiment: Several of Benzinga’s most-accurate analysts revised forecasts ahead of the Q1 report and expect higher Q1 EPS (consensus cited ~$4.85/share), which could lift sentiment if results meet or beat those estimates. Progressive Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
• Neutral Sentiment: Zacks published a pre-earnings note digging into key performance measures beyond top/bottom-line estimates — useful for modeling loss ratios, investment income and underwriting trends but not an immediate catalyst. Progressive (PGR) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
• Neutral Sentiment: Zacks also noted the stock’s recent underperformance vs. the market; useful context but mostly descriptive of current trading dynamics rather than new fundamental news. Progressive (PGR) Registers a Bigger Fall Than the Market: Important Facts to Note
• Neutral Sentiment: Coverage pieces on Progressive’s strategy to navigate inflation and competition provide framing for medium-term risks/rewards but are not immediate catalysts. How is Progressive Corp. (PGR) Planning to Navigate Inflation and Competition Risks
• Neutral Sentiment: Note: a press release about Progressive Planet Solutions TSE: PLAN lifting orders is unrelated to PGR; it can create headline noise but has no direct bearing on Progressive Insurance. Progressive Planet Lifts Orders to Record High and Expands Capacity as Alberta Lab Lands First Client
• Negative Sentiment: Insiders sold about US$9.9M of Progressive stock recently — a near-term negative signal that can pressure the share price, especially ahead of earnings. Insiders At Progressive Sold US$9.9m In Stock, Alluding To Potential Weakness
• Negative Sentiment: Wells Fargo trimmed its price target slightly and placed PGR at "equal weight," removing upside from a higher rating and adding downward pressure to shares. Benzinga Coverage

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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