Wealthfront Advisers LLC Increases Stock Position in The Progressive Corporation $PGR

Key Points

• Wealthfront Advisers LLC boosted its Progressive stake by 14.9% in the first quarter, buying 11,424 additional shares and bringing its total holdings to 88,054 shares worth about $17.5 million.
• Wall Street remains cautious on PGR: analysts currently have a consensus rating of “Hold” with an average price target of $235.05, even though Bank of America still rates the stock a buy after trimming its target slightly.
• Progressive’s recent operating and trading updates were mixed—it beat quarterly EPS estimates and continued growing policies and premiums, but insider selling, margin pressure, and weaker-than-expected revenue have kept sentiment guarded.

Wealthfront Advisers LLC raised its stake in shares of The Progressive Corporation (NYSE:PGR - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,054 shares of the insurance provider's stock after purchasing an additional 11,424 shares during the quarter. Wealthfront Advisers LLC's holdings in Progressive were worth $17,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider's stock valued at $12,584,067,000 after buying an additional 593,612 shares in the last quarter. State Street Corp lifted its holdings in shares of Progressive by 0.3% during the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider's stock worth $6,373,474,000 after acquiring an additional 78,374 shares during the last quarter. Capital International Investors grew its position in Progressive by 8.9% in the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider's stock worth $3,398,123,000 after acquiring an additional 1,217,527 shares in the last quarter. GQG Partners LLC grew its position in Progressive by 11.7% in the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider's stock worth $2,375,706,000 after acquiring an additional 1,092,151 shares in the last quarter. Finally, Norges Bank bought a new position in Progressive in the fourth quarter valued at $1,836,094,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PGR. Bank of America lowered their price target on Progressive from $313.00 to $308.00 and set a "buy" rating on the stock in a research report on Thursday. Mizuho increased their price objective on Progressive from $217.00 to $243.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods decreased their price objective on Progressive from $231.00 to $226.00 and set a "market perform" rating on the stock in a report on Thursday. UBS Group boosted their target price on Progressive from $220.00 to $230.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $235.05.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider directly owned 27,511 shares of the company's stock, valued at $5,633,152.36. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares of the company's stock, valued at $8,258,000. The trade was a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,230 shares of company stock worth $3,165,817 in the last ninety days. 0.32% of the stock is owned by insiders.

Progressive Stock Performance

NYSE PGR opened at $206.14 on Friday. The company has a 50-day simple moving average of $208.49 and a two-hundred day simple moving average of $206.49. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93. The firm has a market cap of $120.46 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.85 and a beta of 0.26.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $23.51 billion. During the same period last year, the firm earned $4.37 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that The Progressive Corporation will post 17.41 EPS for the current year.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive's dividend payout ratio (DPR) is presently 2.03%.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported Q2 earnings above estimates and continued to expand its business, with net premiums written up 5% for the quarter and total policies in force up 7% year over year. Progressive Reports June 2026 Results
• Positive Sentiment: Analysts at Bank of America still rate PGR a buy, even after trimming their price target, suggesting Wall Street still sees meaningful upside from current levels. Benzinga report on Bank of America price target cut
• Neutral Sentiment: Several research firms lowered price targets after the quarter, but most kept market-perform or equivalent ratings, indicating cautious sentiment rather than a strong bearish call. Progressive Analysts Slash Their Forecasts After Q2 Results
• Negative Sentiment: Net income fell 31% in June and the combined ratio worsened, raising concerns that underwriting margins are under pressure in a softer, more competitive insurance environment. Reuters report on quarterly profit and auto insurance demand
• Negative Sentiment: Other commentary highlighted that shares sold off after the earnings release because investors were disappointed by margin concerns and weaker-than-expected profit quality despite the top-line growth. Seeking Alpha news on Q2 results

Progressive 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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