Progressive (PGR)

• Market cap: $143B
• 1 day: -0.56%
• 5 days: -1.26%
• 1 month: -1.41%
• 3 months: -8.34%
• 6 months: -16.35%
• Year to date: 1.23%
• 1 year: -5.18%
• 5 years: 155.28%
• 10 years: 677.31%
• Sector: Financials
• Industry: Property & Casualty Insurance

About: Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 24 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

Employees: 66,300

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

72% more first-time investments, than exits

New positions opened: 200 | Existing positions closed: 116

41% more call options, than puts

Call options by funds: $634M | Put options by funds: $449M

19% more repeat investments, than reductions

Existing positions increased: 775 | Existing positions reduced: 650

3% more funds holding

Funds holding: 1,823 [Q1] → 1,876 (+53) [Q2]

1.08% more ownership

Funds ownership: 84.92% [Q1] → 86.0% (+1.08%) [Q2]

5% less capital invested

Capital invested by funds: $141B [Q1] → $134B (-$6.52B) [Q2]

18% less funds holding in top 10

Funds holding in top 10: 96 [Q1] → 79 (-17) [Q2]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $250
• Avg. target: $288
• High target: $347

10 analyst ratings

• positive: 4 40%
• neutral: 6 60%
• negative: 0 0%

BMO Capital Michael Zaremski	$250	Market Perform Downgraded	17 Sep 2025
B of A Securities Joshua Shanker	$347	Buy Maintained	10 Sep 2025
Morgan Stanley Bob Huang	$267	Equal-Weight Maintained	22 Aug 2025
Wells Fargo Elyse Greenspan	$327	Overweight Maintained	21 Aug 2025
Barclays Alex Scott	$281	Equal-Weight Maintained	19 Aug 2025