Groupama Asset Managment Trims Stake in The Progressive Corporation $PGR

Groupama Asset Managment cut its position in The Progressive Corporation (NYSE:PGR) by 27.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,233 shares of the insurance provider’s stock after selling 4,287 shares during the quarter. Groupama Asset Managment’s holdings in Progressive were worth $2,774,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Davis Capital Management acquired a new position in shares of Progressive in the 3rd quarter valued at $25,000. Ameriflex Group Inc. lifted its position in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Howard Hughes Medical Institute purchased a new stake in shares of Progressive in the second quarter valued at approximately $34,000. TruNorth Capital Management LLC boosted its position in shares of Progressive by 450.0% during the 3rd quarter. TruNorth Capital Management LLC now owns 165 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 135 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in Progressive by 41.0% during the third quarter. Richardson Financial Services Inc. now owns 196 shares of the insurance provider’s stock worth $48,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PGR shares. Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Morgan Stanley reduced their price target on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 28th. JPMorgan Chase & Co. decreased their target price 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. Barclays set a $247.00 price target on Progressive in a research note on Wednesday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 target price on shares of Progressive in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus target price of $240.67.

Progressive Stock Performance

NYSE:PGR opened at $202.34 on Friday. The firm has a 50-day moving average of $206.25 and a two-hundred day moving average of $221.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $118.55 billion, a P/E ratio of 10.52, a PEG ratio of 8.76 and a beta of 0.33. The Progressive Corporation has a 1-year low of $197.92 and a 1-year high of $289.96.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is currently 2.08%.

Insider Activity

In other Progressive news, CIO Jonathan S. Bauer sold 2,266 shares of Progressive stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $203.05, for a total transaction of $460,111.30. Following the sale, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. The trade was a 7.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Bailo sold 3,517 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider directly owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,417 shares of company stock worth $2,357,289 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: BofA kept a Buy rating and only trimmed its target slightly (from $308 to $305), leaving a large implied upside versus current levels — supports bullish investor sentiment. Article Title
• Positive Sentiment: Wells Fargo raised its target from $214 to $217 and kept an Equal Weight view, a modest positive signal from another large shop. Article Title TickerReport
• Positive Sentiment: Progressive’s February operating update showed revenue/premium momentum: net premiums written +5% Y/Y, net premiums earned +8%, net income +2%, and policies in force +10% — supportive for top-line growth and pricing power. Investment-related realized losses improved sharply. Company Release
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its target to $227 and moved to Market Perform — a cautious stance but still shows modest upside relative to current prices. Article Title
• Neutral Sentiment: Market commentary and valuation pieces (Yahoo/Seeking Alpha/TipRanks) are prompting reassessments of PGR’s fair value after recent share weakness; these may influence medium-term sentiment but aren’t new company-specific catalysts. Yahoo Article
• Neutral Sentiment: Progressive issued a formal February performance update (company release / TipRanks coverage) — important for transparency but largely reiterative of monthly metrics. TipRanks
• Negative Sentiment: The combined ratio widened to 85.7 from 82.6 Y/Y, indicating underwriting profitability softened — a clear profit-margin headwind for an insurer. Company Release
• Negative Sentiment: Data shows significant insider selling and large institutional shifts (notably UBS removing a large block), which can weigh on sentiment and signal portfolio rebalancing or concern from major holders. QuiverQuant
• Negative Sentiment: Market headlines note intraday stock weakness in some sessions (MSN coverage), reflecting short-term volatility as investors digest the mixed signals. MSN

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.