Trillium Asset Management LLC Purchases Shares of 40,082 The Progressive Corporation $PGR

Key Points

• Trillium Asset Management purchased 40,082 Progressive shares during the second quarter, valued at approximately $8.76 million. Institutional investors collectively own 85.34% of the insurer.
• Progressive’s operating growth remained solid, with July premiums rising 5% year over year and policies in force increasing 7% to 40.3 million, but net income fell 12% and the combined ratio worsened to 86.8.
• Analyst sentiment is mixed: KBW upgraded the stock to “outperform” with a $250 target, while Wells Fargo maintained an “underweight” rating and the broader consensus remains “hold” with a $236.05 target.

Trillium Asset Management LLC purchased a new stake in The Progressive Corporation (NYSE:PGR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,082 shares of the insurance provider's stock, valued at approximately $8,756,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Progressive by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider's stock valued at $12,584,067,000 after acquiring an additional 593,612 shares during the last quarter. BlackRock Inc. purchased a new stake in Progressive in the 2nd quarter worth approximately $10,496,271,000. State Street Corp raised its holdings in Progressive by 0.3% in the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider's stock valued at $6,373,474,000 after acquiring an additional 78,374 shares during the last quarter. Capital International Investors raised its holdings in Progressive by 8.9% in the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider's stock valued at $3,398,123,000 after acquiring an additional 1,217,527 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in shares of Progressive by 11.7% during the 4th quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider's stock worth $2,375,706,000 after purchasing an additional 1,092,151 shares during the period. Hedge funds and other institutional investors own 85.34% of the company's stock.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded PGR to “outperform” from “market perform” and raised its price target to $250 from $226, implying meaningful upside from recent trading levels. KBW upgrades Progressive
• Positive Sentiment: July operating growth remained solid: net premiums written and earned both rose 5% year over year, while total policies in force increased 7% to 40.3 million. Personal auto policies were particularly strong, with direct auto policies up 9%. Progressive July 2026 results
• Neutral Sentiment: Analyst views remain mixed. Wells Fargo raised its price target modestly to $201 from $198 but retained an “underweight” rating, while William Blair maintained a “hold” stance, citing earnings deceleration and slower growth. Wells Fargo rating update
• Negative Sentiment: July earnings weakened despite premium growth. Net income fell 12% to $961 million and earnings per share declined 11% to $1.65. The combined ratio worsened to 86.8 from 85.3, indicating lower underwriting profitability, while realized securities results swung to a $47 million loss from a $79 million gain. Progressive July earnings analysis
• Negative Sentiment: Reported insider activity may weigh on sentiment: available data showed multiple company insiders selling shares over the past six months and no reported insider purchases.

Insider Activity at Progressive

In other news, insider John Jo Murphy sold 8,124 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.70, for a total value of $1,727,974.80. Following the completion of the sale, the insider owned 41,291 shares of the company's stock, valued at $8,782,595.70. This represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 22,546 shares of the company's stock, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,224 shares of company stock valued at $17,416,438 over the last 90 days. Corporate insiders own 0.32% of the company's stock.

Progressive Price Performance

PGR opened at $220.60 on Friday. The Progressive Corporation has a 52-week low of $189.20 and a 52-week high of $252.82. The company has a 50 day moving average of $215.20 and a two-hundred day moving average of $206.55. The company has a market cap of $128.25 billion, a P/E ratio of 11.06, a P/E/G ratio of 2.93 and a beta of 0.27. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24.

Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, July 15th. The insurance provider reported $5.67 EPS for the quarter, beating analysts' consensus estimates of $4.64 by $1.03. The business had revenue of $23.61 billion for the quarter, compared to the consensus estimate of $19.49 billion. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.40 EPS. On average, analysts expect that The Progressive Corporation will post 17.55 earnings per share for the current year.

Progressive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, October 1st. Progressive's payout ratio is currently 2.01%.

Wall Street Analysts Forecast Growth

PGR has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Progressive from $313.00 to $308.00 and set a "buy" rating for the company in a research report on Thursday, July 16th. Roth Capital reiterated a "buy" rating and set a $245.00 price objective on shares of Progressive in a report on Thursday. BMO Capital Markets reissued a "market perform" rating on shares of Progressive in a research report on Wednesday. Evercore set a $240.00 target price on shares of Progressive in a report on Friday, July 10th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $228.00 price target on shares of Progressive in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Progressive presently has an average rating of "Hold" and a consensus target price of $236.05.

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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