Barrow Hanley Mewhinney & Strauss Adds $291M in The Progressive Corporation ($PGR)
The investment firm acquired 1.33 million shares of Progressive, valued at $294.2 million.
Key Points
- Barrow Hanley Mewhinney & Strauss acquired 1,334,140 shares of The Progressive Corporation, valued at $294.2 million, marking a new position.
- Shares of NYSE:PGR traded near $220.5 on Thursday, with a market cap of $120.7 billion and a P/E ratio of 10.54.
- Insiders at Progressive have engaged in planned sales, while analysts maintain varied ratings with targets up to $331.
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Barrow Hanley Mewhinney & Strauss took a new position in The Progressive Corporation (NYSE:PGR), acquiring 1,334,140 shares valued at approximately $294.2 million. This new stake was reported in the firm's latest 13F filing with the SEC, reflecting holdings as of the most recent quarter.
Barrow Hanley Mewhinney & Strauss vs. the S&P 500
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What Changed in Barrow Hanley Mewhinney & Strauss's Progressive Position
Barrow Hanley Mewhinney & Strauss initiated a new position in Progressive by purchasing 1,334,140 shares. This acquisition represents a significant investment, with the shares valued at about $294.2 million at the time of the filing.
Other Institutional Activity in Progressive
BlackRock, Inc. increased its holdings in Progressive by 229,533 shares, bringing its total to 52,323,606 shares worth about $10.37 billion. Vanguard Capital Management LLC opened a new position with 38,098,359 shares valued at approximately $7.55 billion. State Street Corp added 55,020 shares, holding a total of 25,870,710 shares valued at $5.13 billion. Capital Research Global Investors boosted its stake by 11,430,114 shares to a total of 22,574,142 shares, valued at $4.48 billion. Geode Capital Management, LLC increased its holdings by 644,260 shares, ending with 16,256,844 shares worth about $3.22 billion.
The Progressive Corporation Stock Down 0.1%
On Thursday, shares of Progressive Corporation (NYSE:PGR) traded near $220.5. The company has a market capitalization of approximately $120.7 billion and a P/E ratio of 10.54. Its stock has a 52-week low of $189.2 and a high of $267.93, with a 50-day moving average of $199.87 and a 200-day moving average of $214.52. Progressive's beta is 0.27, indicating lower volatility compared to the market.
$PGR stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Progressive reported revenue of $89.42 billion with a growth of 8.7%. The company's net margin stands at 12.9%, and its return on equity is 37.9%. The next earnings report is expected on July 15, 2026.
Dividend
Progressive Corporation offers an annual dividend rate of $13.9, yielding 6.78%. The dividend payout ratio is 70.7%, reflecting the portion of earnings paid out as dividends to shareholders.
Insider Buying and Selling at The Progressive Corporation
Several insiders at Progressive have been engaging in transactions. On June 22, 2026, Chief Information Officer Steven Broz sold 1,157 shares at an average price of $204.76 under a planned sale. Claims President John Murphy sold 5,916 shares at $200 on June 5, 2026, also under a planned sale. Additionally, on May 8, 2026, Stuart Burgdoerfer, Jeffrey Kelly, and Philip Bleser each bought shares at no specified price.
Analysts Set New Price Targets
On June 18, 2026, Wells Fargo maintained its hold rating on Progressive with a price target of $219. B of A Securities maintained its buy rating with a price target of $313 on the same date. The consensus among 21 analysts is a hold rating, with a mean price target of $230.19.
About The Progressive Corporation
The Progressive Corporation, headquartered in Mayfield, Ohio, is a major player in the insurance industry, particularly in property and casualty insurance. The company offers a broad range of insurance products, including personal auto, motorcycle, and RV insurance, as well as residential property insurance for homeowners and renters. Progressive also provides various commercial insurance products. Led by CEO Susan Patricia Griffith, the company employs over 70,000 people and operates through independent insurance agencies, online, and phone sales.
Bottom Line
Barrow Hanley Mewhinney & Strauss's new stake in Progressive Corporation showcases the firm's interest in the insurance sector. Investors often track 13F filings to gauge institutional sentiment, though these filings are backward-looking and might not reflect current positions. As Progressive continues to show strong financial metrics and institutional interest, it remains a company to watch.
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