Johnson Financial Group Inc. Boosts Stock Position in The Progressive Co. (NYSE:PGR)

26 Apr 2025, 10:32 by Teresa Graham · The Cerbat Gem

Johnson Financial Group Inc. lifted its stake in The Progressive Co. (NYSE:PGR – Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,369 shares of the insurance provider’s stock after acquiring an additional 890 shares during the period. Johnson Financial Group Inc.’s holdings in Progressive were worth $7,238,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kesler Norman & Wride LLC grew its holdings in Progressive by 1.1% during the 4th quarter. Kesler Norman & Wride LLC now owns 3,695 shares of the insurance provider’s stock valued at $885,000 after buying an additional 40 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its stake in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 41 shares in the last quarter. Washington Trust Bank lifted its stake in Progressive by 4.1% in the 4th quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 42 shares in the last quarter. SYM FINANCIAL Corp boosted its holdings in Progressive by 2.8% in the 4th quarter. SYM FINANCIAL Corp now owns 1,602 shares of the insurance provider’s stock valued at $384,000 after purchasing an additional 44 shares during the period. Finally, Monument Capital Management grew its position in shares of Progressive by 0.3% during the 4th quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock valued at $3,298,000 after purchasing an additional 44 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Stock Down 0.0 %

Shares of Progressive stock opened at $265.11 on Friday. The company’s 50 day moving average price is $274.12 and its 200-day moving average price is $258.26. The Progressive Co. has a 52-week low of $201.34 and a 52-week high of $292.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. The stock has a market capitalization of $155.42 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.70 and a beta of 0.38.

Progressive (NYSE:PGR – Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The insurance provider reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.28 by $0.37. The firm had revenue of $22.21 billion for the quarter, compared to analysts’ expectations of $21.87 billion. Progressive had a net margin of 11.25% and a return on equity of 33.79%. Equities research analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Thursday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.15%. Progressive’s dividend payout ratio is presently 2.70%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PGR shares. Bank of America boosted their price objective on Progressive from $289.00 to $297.00 and gave the stock a “neutral” rating in a report on Thursday, April 17th. Morgan Stanley increased their price target on shares of Progressive from $300.00 to $307.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lifted their price objective on shares of Progressive from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, March 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $288.00 target price on shares of Progressive in a research note on Thursday, April 17th. Finally, BMO Capital Markets lifted their price target on Progressive from $282.00 to $288.00 and gave the stock an “outperform” rating in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.76.

Get Our Latest Report on PGR

Insider Buying and Selling

In other news, CFO John P. Sauerland sold 1,542 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $282.66, for a total value of $435,861.72. Following the completion of the transaction, the chief financial officer now owns 268,024 shares in the company, valued at $75,759,663.84. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Carl G. Joyce sold 360 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the sale, the chief accounting officer now directly owns 655 shares in the company, valued at approximately $180,891.35. The trade was a 35.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,749 shares of company stock valued at $11,786,613 over the last quarter. 0.33% of the stock is owned by company insiders.

About Progressive

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