Summit Securities Group LLC Cuts Stock Holdings in The Progressive Corporation $PGR

Summit Securities Group LLC decreased its position in The Progressive Corporation (NYSE:PGR) by 94.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 996 shares of the insurance provider’s stock after selling 18,663 shares during the quarter. Summit Securities Group LLC’s holdings in Progressive were worth $197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bard Associates Inc. bought a new position in shares of Progressive during the fourth quarter valued at about $27,000. Dagco Inc. bought a new stake in Progressive in the 4th quarter worth about $28,000. Bogart Wealth LLC grew its position in Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Ameriflex Group Inc. increased its stake in Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after buying an additional 65 shares during the last quarter. Finally, IFC & Insurance Marketing Inc. bought a new position in shares of Progressive during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PGR. Barclays set a $247.00 target price on Progressive in a research note on Wednesday, March 18th. Royal Bank Of Canada set a $208.00 price target on Progressive in a research report on Friday, May 22nd. Evercore reiterated a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Wells Fargo & Company cut Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price objective on the stock. in a research report on Monday, June 29th. Finally, HSBC upped their price objective on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research note on Monday. Six analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $237.53.

Progressive Trading Down 1.6%

Shares of PGR stock opened at $229.16 on Friday. 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 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 50 day moving average of $206.30 and a 200-day moving average of $206.74. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93.

Progressive (NYSE:PGR) last posted 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. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. Progressive’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that The Progressive Corporation will post 17.28 earnings per share for the current 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Progressive’s dividend payout ratio is currently 2.03%.

Key Progressive News

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

Insider Activity

In related news, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider directly owned 41,290 shares in the company, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the sale, the director directly owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,230 shares of company stock valued at $3,165,817 in the last 90 days. Insiders own 0.32% of the company’s stock.

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.