The Progressive Corporation $PGR Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of The Progressive Corporation (NYSE:PGR) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,383 shares of the insurance provider’s stock after selling 9,280 shares during the period. PNC Financial Services Group Inc.’s holdings in Progressive were worth $70,225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PGR. Dagco Inc. acquired a new stake in shares of Progressive during the fourth quarter worth $28,000. Ameriflex Group Inc. raised its position in shares of Progressive by 106.6% during the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares during the period. Entrust Financial LLC acquired a new stake in shares of Progressive during the fourth quarter worth $33,000. Bangor Savings Bank raised its position in shares of Progressive by 60.4% during the fourth quarter. Bangor Savings Bank now owns 154 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 58 shares during the period. Finally, Riverview Trust Co raised its position in shares of Progressive by 48.6% during the fourth quarter. Riverview Trust Co now owns 162 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 53 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PGR. The Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Keefe, Bruyette & Woods cut their target price on Progressive from $227.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. UBS Group increased their target price on Progressive from $218.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, March 23rd. Argus upgraded Progressive to a “hold” rating in a report on Thursday, March 5th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $220.00 target price on shares of Progressive in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $239.78.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported April net premiums written rose 6% year over year to $7.28 billion, while net income increased 10% and EPS climbed to $1.86, signaling continued top-line growth and profitability. Progressive Reports April 2026 Results
• Positive Sentiment: Wells Fargo raised its price target on PGR to $222 from $218, suggesting some Wall Street confidence in the stock’s valuation. Benzinga coverage of Wells Fargo target raise
• Neutral Sentiment: Analyst and investor attention has been elevated, with recent coverage benchmarking Progressive against other property & casualty insurers and highlighting the stock’s strong operating track record.
• Negative Sentiment: The company’s combined ratio worsened to 90.2 from 84.9 a year earlier, indicating higher losses/expenses relative to premiums and raising questions about underwriting efficiency. Progressive April 2026 Financial Results
• Negative Sentiment: Revenue came in below some expectations in the company’s prior quarterly report, which may be tempering enthusiasm despite the strong April update.

Insider Activity at Progressive

In other news, CIO Jonathan S. Bauer sold 2,266 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $203.05, for a total value of $460,111.30. Following the transaction, the executive directly owned 26,250 shares of the company’s stock, valued at approximately $5,330,062.50. This represents a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the transaction, the insider directly owned 32,348 shares in the company, valued at $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 6,933 shares of company stock valued at $1,441,564. 0.32% of the stock is owned by insiders.

Progressive Price Performance

PGR opened at $199.08 on Friday. The stock has a fifty day moving average of $200.50 and a 200-day moving average of $210.29. The firm has a market capitalization of $116.33 billion, a P/E ratio of 10.12, a PEG ratio of 5.85 and a beta of 0.31. The Progressive Corporation has a 12-month low of $191.75 and a 12-month high of $289.96. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26.

Progressive (NYSE:PGR) last released its earnings results 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. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.37 earnings per share. Equities analysts forecast that The Progressive Corporation will post 16.41 EPS for the current fiscal year.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is 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.