Progressive (NYSE:PGR) CIO Jonathan Bauer Sells 3,105 Shares

The Progressive Corporation (NYSE:PGR) CIO Jonathan Bauer sold 3,105 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $634,506.75. Following the sale, the executive owned 26,249 shares of the company’s stock, valued at approximately $5,363,983.15. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Progressive Trading Up 1.9%

Shares of NYSE PGR opened at $206.94 on Friday. The firm’s 50 day moving average price is $221.60 and its 200-day moving average price is $232.61. The Progressive Corporation has a 52-week low of $198.50 and a 52-week high of $292.99. 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 cap of $121.35 billion, a PE ratio of 11.35, a P/E/G ratio of 1.24 and a beta of 0.34.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were given 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 2.19%.

Analyst Ratings Changes

PGR has been the topic of a number of research analyst reports. Hsbc Global Res downgraded Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. 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. HSBC set a $259.00 price target on shares of Progressive and gave the company an “underperform” rating in a report on Monday, November 17th. Mizuho set a $240.00 price objective on shares of Progressive in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $259.39.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Market coverage highlights that Progressive is seeing buying interest and gained versus the broader market, which supports near-term share strength and higher-than-average volume. Progressive (PGR) Beats Stock Market Upswing: What Investors Need to Know
• Neutral Sentiment: Progressive is drawing investor attention and search interest, keeping the ticker in focus ahead of corporate events — this can increase intraday volatility but is not inherently directional. The Progressive Corporation (PGR) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Progressive is scheduled to report earnings next week; the event is a near-term catalyst that can drive larger moves depending on results and guidance. Progressive (PGR) Expected to Announce Earnings on Wednesday
• Negative Sentiment: Competitive threat: Lemonade’s new Tesla partnership (50% discount for FSD miles) represents a potential pricing innovation that could force legacy insurers — including Progressive — to adjust pricing or risk losing low?loss, tech?savvy customers; this raises long?term competitive pressure on auto insurance margins. Lemonade’s Tesla Deal Could Rewrite How Auto Insurance Is Priced
• Negative Sentiment: Insider selling: Progressive CIO Jonathan S. Bauer and insider Andrew J. Quigg disclosed recent open?market sales (several thousand shares each). While not unusually large for a company of this size, multiple insider sales can be perceived negatively by some investors ahead of earnings. Jonathan S. Bauer insider sale (SEC filing) Andrew J. Quigg insider sale (SEC filing)
• Negative Sentiment: Analyst/expectations risk: Zacks notes that while Wall Street expects earnings growth, Progressive may lack the specific factors that point to a likely earnings beat, which raises the risk of a disappointing print or conservative guidance. Progressive (PGR) Reports Next Week: Wall Street Expects Earnings Growth

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Progressive in the 2nd quarter worth $2,156,939,000. Capital International Investors grew its holdings in Progressive by 78.9% during the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock valued at $3,384,082,000 after purchasing an additional 6,045,732 shares during the period. Alliancebernstein L.P. increased its position in Progressive by 32.8% in the second 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. Capital Research Global Investors raised its stake in shares of Progressive by 26.1% in the third 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. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Progressive by 2,012.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 767,549 shares of the insurance provider’s stock valued at $189,546,000 after buying an additional 731,207 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

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.