Carl Joyce Sells 141 Shares of Progressive (NYSE:PGR) Stock

The Progressive Corporation (NYSE:PGR) CAO Carl Joyce sold 141 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 $29,892.00. Following the transaction, the chief accounting officer owned 828 shares of the company’s stock, valued at approximately $175,536. This represents a 14.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Progressive Stock Up 0.0%

Shares of Progressive stock opened at $206.90 on Wednesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The Progressive Corporation has a 12-month low of $197.92 and a 12-month high of $292.99. The company has a market cap of $121.23 billion, a P/E ratio of 10.75, a PEG ratio of 9.00 and a beta of 0.33. The company’s fifty day simple moving average is $208.09 and its two-hundred day simple moving average is $223.19.

Progressive Dividend Announcement

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

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Analyst / dividend bullishness — A Seeking Alpha piece highlights PGR as a high-conviction, dividend-friendly insurance pick, citing Progressive’s data-driven underwriting, market-share gains and attractive total yield — a constructive narrative for long-term investors. Seeking Alpha: Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: Bank of America lowered its price target from $315 to $308 but kept a “buy” rating — still signaling conviction but trimming upside expectations vs. prior targets. This is supportive but slightly less bullish than before. Benzinga: BofA price target update
• Neutral Sentiment: Quarterly dividend declared — Progressive announced a $0.10 quarterly common-share dividend (payable Apr. 10; record Apr. 2). The yield is small (~0.2%), so it’s a modest income signal rather than a major catalyst. GlobeNewswire: Dividend Announcement
• Neutral Sentiment: Unrelated company news — Progressive Planet Solutions (TSE: PLAN) unveiled low‑carbon cement and R&D expansion. This concerns a different firm (PLAN) and is not material to PGR’s insurance fundamentals. TipRanks: Progressive Planet product release
• Negative Sentiment: Insider selling — Two execs disclosed sales: CFO/CAO Carl Joyce sold 141 shares and senior executive Karen Bailo sold 3,517 shares (both at ~$212), reducing their stakes. Insider dispositions can create short-term selling pressure or signal profit-taking. SEC Form 4 (Carl Joyce) SEC Form 4 (Karen Bailo)
• Negative Sentiment: Recent price weakness — Coverage notes and market commentary flagged a recent intraday dip (PGR down vs. market gains), underscoring near-term volatility as analysts refine views. Zacks: Stock Dips While Market Gains

Hedge Funds Weigh In On Progressive

A number of hedge funds have recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in shares of Progressive by 30.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after acquiring an additional 23,833 shares during the last quarter. Allstate Corp raised its holdings in shares of Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock valued at $5,334,000 after purchasing an additional 20,338 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Progressive by 91.7% during the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock valued at $2,892,000 after purchasing an additional 5,600 shares during the last quarter. Mather Group LLC. lifted its position in Progressive by 40.6% during the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock valued at $4,159,000 after purchasing an additional 4,865 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in Progressive by 471.3% in the third quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock worth $5,556,000 after purchasing an additional 18,558 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore set a $230.00 target price on Progressive in a report on Thursday, February 19th. Bank of America dropped their price target on Progressive from $315.00 to $308.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. UBS Group lowered their price objective on Progressive from $226.00 to $218.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Progressive in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Progressive has a consensus rating of “Hold” and a consensus target price of $243.28.

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.