The Progressive Corporation $PGR is Van Cleef Asset Management Inc’s Largest Position

Van Cleef Asset Management Inc lifted its stake in shares of The Progressive Corporation (NYSE:PGR) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 765,838 shares of the insurance provider’s stock after buying an additional 4,251 shares during the quarter. Progressive makes up approximately 16.3% of Van Cleef Asset Management Inc’s portfolio, making the stock its biggest position. Van Cleef Asset Management Inc’s holdings in Progressive were worth $151,820,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Osprey Private Wealth LLC raised its holdings in Progressive by 9.8% in the first quarter. Osprey Private Wealth LLC now owns 35,696 shares of the insurance provider’s stock valued at $7,076,000 after acquiring an additional 3,180 shares in the last quarter. Conning Inc. grew its holdings in Progressive by 7.2% during the 1st quarter. Conning Inc. now owns 21,556 shares of the insurance provider’s stock worth $4,273,000 after acquiring an additional 1,440 shares in the last quarter. Range Financial Group LLC increased its position in shares of Progressive by 55.7% in the 1st quarter. Range Financial Group LLC now owns 2,401 shares of the insurance provider’s stock valued at $476,000 after purchasing an additional 859 shares during the last quarter. Beacon Financial Group increased its position in shares of Progressive by 1.8% in the 1st quarter. Beacon Financial Group now owns 3,812 shares of the insurance provider’s stock valued at $756,000 after purchasing an additional 67 shares during the last quarter. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Progressive by 135.1% in the 1st quarter. Valued Wealth Advisors LLC now owns 228 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive News Summary

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 insurer’s near-term upside. Mizuho Raises Progressive Price Target
• Positive Sentiment: DOWLING & PARTNERS increased its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the broader consensus of $17.28, which suggests analysts see continued earnings strength. Progressive Analyst Estimate Increase
• Positive Sentiment: One recent commentary piece argued that improving underwriting trends and a possible index-exit effect could be a “game changer” for Progressive, reinforcing the bullish view that fundamentals may support the stock. Index Exit and Upbeat Underwriting Trends Could Be A Game Changer For Progressive
• Neutral Sentiment: Another article said Progressive still looks fully valued after Russell Growth Index exits, which could limit enthusiasm even though it does not change the company’s operating outlook. Progressive After Russell Growth Index Exits Still Looks Fully Valued
• Neutral Sentiment: A comparison piece versus Allstate argued that Progressive’s valuation remains premium relative to peers, highlighting a potential headwind for multiple expansion rather than a direct business concern. Allstate Vs. Progressive: Buy Allstate’s Deep-Value Multiple Not Progressive’s Premium Run

Insider Transactions at Progressive

In other news, insider John Jo Murphy sold 5,916 shares of Progressive stock in a transaction 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of the company’s stock in a transaction on 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 approximately $5,633,152.36. This trade represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,230 shares of company stock worth $3,165,817. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

PGR has been the subject of a number of analyst reports. Wells Fargo & Company downgraded shares of Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 target price for the company. in a research note on Monday, June 29th. Keefe, Bruyette & Woods raised their price target on Progressive from $210.00 to $231.00 and gave the company a “market perform” rating in a research note on Wednesday. Evercore set a $240.00 price objective on Progressive in a research report on Friday. Barclays set a $247.00 price objective on Progressive in a report on Wednesday, March 18th. Finally, Mizuho raised their target price on Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $238.05.

Progressive Stock Performance

NYSE PGR traded up $1.07 during trading hours on Friday, hitting $230.59. The company had a trading volume of 1,477,630 shares, compared to its average volume of 3,432,770. The business has a 50 day moving average of $206.90 and a 200-day moving average of $206.90. The company has a market cap of $134.74 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 4.34 and a beta of 0.26. The Progressive Corporation has a 1-year low of $189.20 and a 1-year high of $254.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27.

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

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s dividend payout ratio is presently 2.03%.

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.