Fairtree Asset Management Pty Ltd Makes New $2.02 Million Investment in The Progressive Corporation $PGR

Fairtree Asset Management Pty Ltd purchased a new stake in shares of The Progressive Corporation (NYSE:PGR) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 9,250 shares of the insurance provider’s stock, valued at approximately $2,021,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Progressive by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock worth $12,584,067,000 after acquiring an additional 593,612 shares during the last quarter. BlackRock Inc. bought a new stake in Progressive in the second quarter valued at approximately $10,496,271,000. State Street Corp increased its position in Progressive by 0.3% during the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock valued at $6,373,474,000 after purchasing an additional 78,374 shares during the period. Capital International Investors increased its position in Progressive by 8.9% during the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock valued at $3,398,123,000 after purchasing an additional 1,217,527 shares during the period. Finally, GQG Partners LLC raised its holdings in Progressive by 11.7% during the 4th quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock worth $2,375,706,000 after purchasing an additional 1,092,151 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Up 1.5%

Shares of NYSE:PGR opened at $220.60 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The Progressive Corporation has a 52-week low of $189.20 and a 52-week high of $252.82. The business’s 50 day simple moving average is $215.20 and its two-hundred day simple moving average is $206.55. The firm has a market cap of $128.25 billion, a P/E ratio of 11.06, a PEG ratio of 2.93 and a beta of 0.27.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 EPS for the quarter, beating the consensus estimate of $4.64 by $1.03. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The firm had revenue of $23.61 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter in the previous year, the company posted $5.40 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that The Progressive Corporation will post 17.55 EPS for the current fiscal year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, October 1st. Progressive’s payout ratio is 2.01%.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods upgraded PGR to “outperform” from “market perform” and raised its price target to $250 from $226, implying meaningful upside from recent trading levels. KBW upgrades Progressive
• Positive Sentiment: July operating growth remained solid: net premiums written and earned both rose 5% year over year, while total policies in force increased 7% to 40.3 million. Personal auto policies were particularly strong, with direct auto policies up 9%. Progressive July 2026 results
• Neutral Sentiment: Analyst views remain mixed. Wells Fargo raised its price target modestly to $201 from $198 but retained an “underweight” rating, while William Blair maintained a “hold” stance, citing earnings deceleration and slower growth. Wells Fargo rating update
• Negative Sentiment: July earnings weakened despite premium growth. Net income fell 12% to $961 million and earnings per share declined 11% to $1.65. The combined ratio worsened to 86.8 from 85.3, indicating lower underwriting profitability, while realized securities results swung to a $47 million loss from a $79 million gain. Progressive July earnings analysis
• Negative Sentiment: Reported insider activity may weigh on sentiment: available data showed multiple company insiders selling shares over the past six months and no reported insider purchases.

Insider Activity

In other Progressive news, insider Karen Bailo sold 8,452 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $212.71, for a total value of $1,797,824.92. Following the transaction, the insider directly owned 32,348 shares of the company’s stock, valued at approximately $6,880,743.08. This trade represents a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lori A. Niederst sold 7,339 shares of Progressive stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $209.29, for a total transaction of $1,535,979.31. Following the transaction, the insider owned 42,567 shares of the company’s stock, valued at $8,908,847.43. This represents a 14.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 82,224 shares of company stock valued at $17,416,438. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PGR has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Progressive from $198.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday. Mizuho set a $236.00 target price on shares of Progressive in a research note on Wednesday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of Progressive from $250.00 to $241.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. UBS Group upped their price target on shares of Progressive from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Progressive in a report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $236.05.

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.