Ibex Wealth Advisors Purchases New Shares in The Progressive Corporation $PGR

Ibex Wealth Advisors acquired a new position in The Progressive Corporation (NYSE:PGR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,346 shares of the insurance provider’s stock, valued at approximately $3,439,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC raised its stake in Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares in the last quarter. Bard Associates Inc. bought a new stake in Progressive during the 4th quarter valued at approximately $27,000. Dagco Inc. purchased a new position in shares of Progressive during the 4th quarter worth approximately $28,000. IFC & Insurance Marketing Inc. bought a new position in shares of Progressive in the 4th quarter worth approximately $29,000. Finally, HHM Wealth Advisors LLC raised its position in shares of Progressive by 700.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 126 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive Price Performance

Shares of NYSE PGR opened at $229.16 on Friday. The firm has a market cap of $133.91 billion, a P/E ratio of 11.65, a PEG ratio of 4.40 and a beta of 0.26. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The Progressive Corporation has a twelve month low of $189.20 and a twelve month high of $254.93. The company has a 50 day moving average of $206.30 and a 200 day moving average of $206.74.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.Progressive’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $4.37 earnings per share. As a group, research analysts expect that The Progressive Corporation will post 17.28 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be issued 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, July 2nd. Progressive’s dividend payout ratio is presently 2.03%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently weighed in on PGR. Evercore restated a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Bank of America lowered their price objective on Progressive from $331.00 to $313.00 and set a “buy” rating for the company in a research report on Thursday, June 18th. Wells Fargo & Company cut shares of Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 target price on the stock. in a report on Monday, June 29th. Keefe, Bruyette & Woods increased their price target on shares of Progressive from $210.00 to $231.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $220.00 price target on shares of Progressive in a research report on Wednesday, May 20th. Six equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $237.53.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the shares. Benzinga report on Mizuho price target increase
• Positive Sentiment: DOWLING & PARTN boosted its FY2026 EPS estimate for Progressive to $18.00 from $17.75, above the broader consensus of $17.26, which suggests analysts still see solid earnings power ahead. MarketBeat Progressive report
• Neutral Sentiment: Keefe, Bruyette & Woods also lifted its price target to $231 from $210, but maintained only a market perform rating, implying limited upside from current levels. Tickerreport article on KBW target increase
• Neutral Sentiment: Recent commentary noted Progressive may remain fully valued after its Russell Growth Index exit, reinforcing the idea that valuation is capping enthusiasm despite strong fundamentals. Yahoo Finance article on valuation after Russell Growth Index exit
• Negative Sentiment: A comparison piece argued that Progressive’s premium valuation looks stretched versus Allstate, especially as Allstate’s underwriting improved while Progressive’s combined ratio did not show similar progress. 247WallSt comparison of Allstate vs. Progressive

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.