Resona Asset Management Co. Ltd. Increases Stock Position in The Progressive Corporation $PGR

09 Jul 2026, 08:27 by Scott Moore · The Cerbat Gem

Resona Asset Management Co. Ltd. lifted its position in shares of The Progressive Corporation (NYSE:PGR – Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,062 shares of the insurance provider’s stock after purchasing an additional 20,138 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Progressive were worth $45,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Munich Reinsurance Co Stock Corp in Munich grew its position in Progressive by 6.9% in the 1st quarter. Munich Reinsurance Co Stock Corp in Munich now owns 18,548 shares of the insurance provider’s stock worth $3,677,000 after purchasing an additional 1,204 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Progressive by 128.9% during the 1st quarter. Frank Rimerman Advisors LLC now owns 20,249 shares of the insurance provider’s stock worth $4,014,000 after buying an additional 11,401 shares in the last quarter. Stenger Family Office LLC lifted its position in shares of Progressive by 15.4% during the 1st quarter. Stenger Family Office LLC now owns 21,323 shares of the insurance provider’s stock worth $4,227,000 after buying an additional 2,844 shares in the last quarter. Marino Stram & Associates LLC boosted its stake in shares of Progressive by 1.8% in the 1st quarter. Marino Stram & Associates LLC now owns 4,238 shares of the insurance provider’s stock worth $840,000 after buying an additional 75 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Progressive by 5.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 26,404 shares of the insurance provider’s stock worth $5,234,000 after buying an additional 1,281 shares during the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Evercore reissued a “negative” rating on shares of Progressive in a research report on Wednesday, March 18th. Morgan Stanley reduced their price objective on Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research note on Tuesday, March 31st. Jefferies Financial Group decreased their target price on Progressive from $216.00 to $215.00 and set a “hold” rating for the company in a research report on Tuesday, March 24th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $220.00 target price on shares of Progressive in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Progressive currently has an average rating of “Hold” and a consensus target price of $236.47.

View Our Latest Analysis on PGR

Progressive Trading Down 0.8%

Shares of PGR stock opened at $232.62 on Thursday. 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 $135.93 billion, a P/E ratio of 11.83, a PEG ratio of 4.44 and a beta of 0.26. The company has a 50 day moving average of $205.78 and a 200-day moving average of $206.70. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93.

Progressive (NYSE:PGR – Get Free Report) 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 17.26 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%.

Insider Activity

In other news, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the completion of the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. This represents a 23.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Jo Murphy sold 5,916 shares of Progressive 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 completion of the sale, the insider directly owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This trade represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.

Progressive Profile

(Free Report)

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.