New York State Common Retirement Fund Lowers Stock Position in The Progressive Corporation $PGR

New York State Common Retirement Fund reduced its position in The Progressive Corporation (NYSE:PGR) by 4.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 701,442 shares of the insurance provider’s stock after selling 35,035 shares during the period. New York State Common Retirement Fund’s holdings in Progressive were worth $173,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Davis Capital Management purchased a new stake in shares of Progressive during the 3rd quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new position in Progressive during the second quarter valued at approximately $33,000. Howard Hughes Medical Institute purchased a new stake in Progressive during the second quarter worth approximately $34,000. Westside Investment Management Inc. increased its position in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Finally, Richardson Financial Services Inc. raised its stake in shares of Progressive by 1,885.7% in the 2nd quarter. Richardson Financial Services Inc. now owns 139 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 132 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive Trading Up 2.3%

Shares of PGR opened at $212.94 on Thursday. The Progressive Corporation has a one year low of $198.50 and a one year high of $292.99. The stock has a 50-day moving average price of $220.33 and a 200 day moving average price of $231.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $124.87 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.27 and a beta of 0.34.

Progressive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.19%.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 results beat estimates — Progressive reported stronger-than-expected December/Q4 results with solid underwriting (an ~87% combined ratio reported by some outlets), revenue and EPS above consensus, and premium growth while prioritizing margins. This underpins near-term profitability and investor confidence. Progressive reports strong Q4 2025 results, announces CFO transition
• Positive Sentiment: Bank of America reiterates Buy and lifts price target to $334 — BofA’s upgrade/continued Buy stance with a much higher target signals analyst conviction in upside given sustained policy momentum and elevated profitability. That upgrade likely helped buying interest today. Progressive: Sustained Policy Momentum, Elevated Profitability, and Valuation Upside Support Buy Rating
• Positive Sentiment: Analyst upgrades citing de?risked margins — Independent analysis (Seeking Alpha) upgraded PGR, arguing margin fears are overdone after the beat and highlighting disciplined underwriting and attractive valuation (~12x earnings). Progressive: Margin Fears Are Overdone (Upgrade)
• Neutral Sentiment: CFO retirement with internal successor announced — CFO John Sauerland will retire July 3, 2026; Andrew Quigg (Chief Strategy Officer) is named successor and will work with Sauerland for a transition. Internal succession reduces disruption risk but still introduces leadership change. Progressive Announces Plans For CFO Transition
• Neutral Sentiment: Mixed analyst landscape and targets — While some firms (e.g., BofA, Barclays) are positive, others have trimmed targets or ratings recently; the median 6?month target sits around $252, showing divergent views on growth vs. margin tradeoffs. Is Progressive Corporation (PGR) One of the Best Inexpensive Stocks to Buy Now?
• Negative Sentiment: Some downgrades and negative calls — Zacks moved to a negative stance (reported as a downgrade to “strong sell” by some feeds) and firms like HSBC and BMO have cut ratings/targets recently; these may cap upside and add selling pressure for more cautious investors. Zacks.com
• Negative Sentiment: Insider selling and mixed institutional activity — Recent disclosures show notable insider sales and significant rebalancing among large institutions, which could worry some investors about near-term sentiment even if institutional ownership remains large. The Progressive Corporation Announces Retirement of CFO John Sauerland, Successor Named

Analyst Ratings Changes

Several research firms recently weighed in on PGR. JPMorgan Chase & Co. reduced their target price on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Zacks Research cut Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday. Evercore ISI decreased their target price on Progressive from $250.00 to $237.00 and set an “in-line” rating for the company in a research report on Wednesday, January 7th. William Blair downgraded Progressive from an “outperform” rating to a “market perform” rating in a report on Thursday, December 18th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Progressive in a report on Wednesday, December 17th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $259.39.

Insider Activity at Progressive

In other Progressive news, CFO John P. Sauerland sold 5,000 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the transaction, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at $50,956,523.52. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 1,345 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $228.29, for a total transaction of $307,050.05. Following the completion of the sale, the insider owned 27,698 shares in the company, valued at approximately $6,323,176.42. This trade represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 13,788 shares of company stock valued at $3,018,961. 0.33% of the stock is owned by insiders.

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.