Progressive (PGR)

Company Profile

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers. Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

Company profile

Ticker

PGR

Exchange

NYSE

Website

www.progressive.com

CEO

Susan Griffith

Incorporated

Ohio

Location

Ohio

Fiscal year end

Dec 31

Sector

Finance and Insurance > Direct Property and Casualty Insurance Carriers

Industry (SIC)

Fire, Marine & Casualty Insurance

Berkshire Hathaway • Hartford Financial Services • American International • Travelers Companies • Chubb Limited • Loews • CNA Financial • American Financial • Alleghany • W.R. Berkley ...

SEC CIK

0000080661

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

ARX Holding Corp. • American Strategic Insurance Corp. • Ark Royal Underwriters, LLC • ASI Assurance Corp. • ASI Home Insurance Corp. • ASI Lloyds, Inc. • ASI Preferred Insurance Corp. • ASI Select Auto Insurance Corp. • ASI Select Insurance Corp. • ASI Underwriters Corp. ...

IRS number

340963169

PGR stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$146.71

Low target

$111.00

High target

$165.00

Keefe, Bruyette & Woods

Latest filings (excl ownership)

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8-K

Progressive Reports February Results

15 Mar 23

8-K

Progressive Announces Quarterly Common Share Dividend and Appointment of Calculation Agent for Preferred Shares

27 Feb 23

Progressive Reports January Results

15 Feb 23

8-K

Progressive Reports December Results

25 Jan 23

8-K

Progressive Announces Updated Loss Estimates

21 Dec 22

8-K

Progressive Reports November 2022 Results and Provides Dividend Information and 2023 Annual Meeting Dates

14 Dec 22

8-K

Progressive Reports October Results

16 Nov 22

S-8

Registration of securities for employees

1 Nov 22

Transcripts

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PGR

Earnings call transcript

2022 Q4

28 Feb 23

PGR

Earnings call transcript

2022 Q3

2 Nov 22

PGR

Earnings call transcript

2022 Q1

3 May 22

PGR

Earnings call transcript

2021 Q4

1 Mar 22

PGR

Earnings call transcript

2021 Q3

3 Nov 21

PGR

Earnings call transcript

2021 Q2

4 Aug 21

PGR

Earnings call transcript

2021 Q1

5 May 21

PGR

Earnings call transcript

2020 Q4

2 Mar 21

PGR

Earnings call transcript

2020 Q3

4 Nov 20

PGR

Earnings call transcript

2020 Q2

6 Aug 20

Latest ownership filings

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Mariann Wojtkun Marshall

17 Mar 23

144

Notice of proposed sale of securities

16 Mar 23

11-K

Annual report of employee stock purchases

Susan Patricia Griffith

Notice of proposed sale of securities

Financial summary

Financial statements Chart PGR financial data

Quarter (USD)	Dec 22	Sep 22	Jun 22	Mar 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	220.90 mm	220.90 mm	220.90 mm	220.90 mm	220.90 mm	220.90 mm
Cash burn (monthly)	48.13 mm	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	127.46 mm	n/a	n/a	n/a	n/a	n/a
Cash remaining	93.44 mm	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	1.9	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Progressive earnings reports.

Institutional ownership, Q4 2022

PGR institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	1142	1073	+6.4%
Opened positions	161	104	+54.8%
Closed positions	92	89	+3.4%
Increased positions	394	374	+5.3%
Reduced positions	427	421	+1.4%

13F shares	Current	Prev Q	Change
Total value	64.22 tn	53.64 bn	+119625.8%
Total shares	495.18 mm	461.19 mm	+7.4%
Total puts	1.55 mm	1.13 mm	+36.9%
Total calls	1.48 mm	1.23 mm	+20.1%
Total put/call ratio	1.0	0.9	+13.9%

Largest owners	Shares	Value	Change
Vanguard	50.56 mm	$6.56 tn	+1.4%
BLK Blackrock	43.45 mm	$5.64 tn	+4.2%
JPM JPMorgan Chase & Co.	26.13 mm	$3.38 tn	-4.7%
STT State Street	25.56 mm	$3.31 tn	NEW
BAC Bank Of America	19.22 mm	$2.49 tn	-8.1%
Wellington Management	18.54 mm	$2.40 tn	-12.8%
Massachusetts Financial Services	15.20 mm	$1.97 tn	-1.9%
T. Rowe Price	12.57 mm	$1.63 tn	+5.1%
Geode Capital Management	11.30 mm	$1.46 tn	+0.6%
FMR	9.35 mm	$1.21 tn	-0.1%

Largest transactions	Shares	Bought/sold	Change
STT State Street	25.56 mm	+25.56 mm	NEW
Norges Bank	6.19 mm	+6.19 mm	NEW
Wellington Management	18.54 mm	-2.73 mm	-12.8%
BLK Blackrock	43.45 mm	+1.75 mm	+4.2%
BAC Bank Of America	19.22 mm	-1.69 mm	-8.1%
MS Morgan Stanley	6.72 mm	+1.36 mm	+25.4%
JPM JPMorgan Chase & Co.	26.13 mm	-1.30 mm	-4.7%
Eaton Vance Management	0.00	-1.16 mm	EXIT
Amundi	3.32 mm	-922.74 k	-21.8%
TD Asset Management	1.12 mm	+914.72 k	+455.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

PGR insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
16 Mar 23	Marshall Mariann Wojtkun	Common Stock	Sell	Dispose S	No	No	138.67	471.54	65.39 k	3,981.015
24 Feb 23	Broz Steven	Common Stock	Sell	Dispose S	No	Yes	141.64	930	131.73 k	29,111.262
24 Feb 23	Mascaro Daniel P	Common Stock	Sell	Dispose S	No	Yes	141.64	2,806	397.44 k	36,082.322
21 Feb 23	Bauer Jonathan S.	Common Stock	Payment of exercise	Dispose F	No	No	142.38	3,023	430.41 k	19,079.082
21 Feb 23	Bauer Jonathan S.	Common Stock	Grant	Acquire A	No	No	0	6,201.72	0.00	22,102.082
21 Feb 23	Sauerland John P	Common Stock	Payment of exercise	Dispose F	No	No	142.38	1,727	245.89 k	345,507.393
21 Feb 23	Sauerland John P	Common Stock	Grant	Acquire A	No	No	0	3,840.196	0.00	347,234.393