California Public Employees Retirement System Buys 35,954 Shares of The Progressive Co. (NYSE:PGR)

30 Mar 2025, 14:13 by Mitch Edgeman · The Markets Daily

California Public Employees Retirement System boosted its position in shares of The Progressive Co. (NYSE:PGR – Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,491,193 shares of the insurance provider’s stock after purchasing an additional 35,954 shares during the period. California Public Employees Retirement System owned about 0.43% of Progressive worth $596,915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC grew its position 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 worth $28,000 after buying an additional 41 shares in the last quarter. LRI Investments LLC grew its holdings in shares of Progressive by 16.5% during the 3rd quarter. LRI Investments LLC now owns 296 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 42 shares in the last quarter. Washington Trust Bank increased its position in shares of Progressive by 4.1% in the fourth quarter. Washington Trust Bank now owns 1,066 shares of the insurance provider’s stock worth $255,000 after purchasing an additional 42 shares during the period. SYM FINANCIAL Corp raised its stake in Progressive by 2.8% in the fourth 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 in the last quarter. Finally, Monument Capital Management lifted its position in Progressive by 0.3% during the fourth quarter. Monument Capital Management now owns 13,762 shares of the insurance provider’s stock worth $3,298,000 after purchasing an additional 44 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Progressive Stock Performance

Shares of Progressive stock opened at $279.13 on Friday. The stock has a market cap of $163.64 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.70 and a beta of 0.35. The company has a quick ratio of 0.30, a current ratio of 0.31 and a debt-to-equity ratio of 0.27. The Progressive Co. has a twelve month low of $201.34 and a twelve month high of $292.99. The company’s fifty day moving average is $265.32 and its 200 day moving average is $255.86.

Progressive (NYSE:PGR – Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. Sell-side analysts forecast that The Progressive Co. will post 14.68 EPS for the current year.

Progressive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.14%. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PGR shares. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, December 26th. Morgan Stanley raised their target price on Progressive from $300.00 to $307.00 and gave the company an “overweight” rating in a report on Friday, January 31st. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price target for the company. in a report on Tuesday, December 10th. StockNews.com upgraded Progressive from a “hold” rating to a “buy” rating in a research report on Saturday, March 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Progressive from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $281.06.

Read Our Latest Stock Report on PGR

Insider Activity

In other Progressive news, Director Devin C. Johnson sold 400 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $275.04, for a total transaction of $110,016.00. Following the transaction, the director now directly owns 8,370 shares in the company, valued at approximately $2,302,084.80. This represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of Progressive stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the completion of the sale, the chief executive officer now owns 473,736 shares of the company’s stock, valued at $115,255,231.44. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,255 shares of company stock valued at $16,877,471. 0.34% of the stock is currently owned by insiders.

Progressive Company Profile

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