Tremblant Capital Group Increases Stock Holdings in The Progressive Corporation $PGR

Key Points

• Tremblant Capital Group increased its stake in The Progressive Corporation by 53.6%, buying 7,188 shares to hold 20,609 shares valued at about $5.09 million as of the latest 13F filing.
• Major institutions are adding to PGR: Vanguard owns ~54.7 million shares, Capital International Investors boosted its position by 78.9%, and institutional investors collectively own 85.34% of the stock.
• Market signals are mixed — a recent CFO retirement and analyst cuts (including BMO and Bank of America) have weighed on sentiment, while the consensus rating is "Hold" with an average target of $241.94 vs a current price near $205 (P/E ~10.7).

Tremblant Capital Group grew its holdings in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 53.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,609 shares of the insurance provider's stock after purchasing an additional 7,188 shares during the period. Tremblant Capital Group's holdings in Progressive were worth $5,089,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PGR. Vanguard Group Inc. boosted its stake in shares of Progressive by 0.3% in the third quarter. Vanguard Group Inc. now owns 54,667,528 shares of the insurance provider's stock valued at $13,500,146,000 after purchasing an additional 151,240 shares during the period. Capital International Investors increased its stake in Progressive by 78.9% during the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider's stock worth $3,384,082,000 after buying an additional 6,045,732 shares during the period. Capital Research Global Investors increased its stake in Progressive by 26.1% during the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider's stock worth $2,757,905,000 after buying an additional 2,314,864 shares during the period. Alliancebernstein L.P. lifted its holdings in Progressive by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider's stock worth $2,928,141,000 after buying an additional 2,709,417 shares in the last quarter. Finally, Norges Bank purchased a new position in Progressive in the 2nd quarter valued at approximately $2,156,939,000. Institutional investors and hedge funds own 85.34% of the company's stock.

Progressive News Summary

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

Insider Buying and Selling at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the company's stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $336,973.15. Following the completion of the transaction, the insider directly owned 39,626 shares of the company's stock, valued at $8,097,573.10. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Broz sold 1,344 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the completion of the transaction, the insider owned 26,354 shares in the company, valued at $5,924,379.20. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,761 shares of company stock worth $2,659,420. Corporate insiders own 0.34% of the company's stock.

Progressive Price Performance

Progressive stock opened at $205.22 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 company has a fifty day simple moving average of $206.96 and a 200-day simple moving average of $222.64. The stock has a market cap of $120.24 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 8.94 and a beta of 0.33. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99.

Progressive Dividend Announcement

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

Analysts Set New Price Targets

PGR has been the topic of a number of recent research reports. Zacks Research raised Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. The Goldman Sachs Group reiterated a "buy" rating and issued a $225.00 target price on shares of Progressive in a report on Monday, February 23rd. Keefe, Bruyette & Woods boosted their target price on Progressive from $225.00 to $232.00 and gave the stock a "market perform" rating in a research note on Thursday, February 19th. Mizuho set a $240.00 price target on Progressive in a research report on Wednesday, January 14th. Finally, Roth Mkm set a $235.00 price objective on Progressive in a research note on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $241.94.

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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