Progressive Corporation (PGR)

Progressive Corp. stock has experienced a 27.72% increase from June 25, 2024, to June 24, 2025, but was down 6.14% over the past 30 days as of June 27, 2025. The company reported strong financial results for Q4 and the full fiscal year 2024, with a 21% year-over-year surge in net written premiums and the addition of over 5 million active policies. In January 2025, company-wide policies in force grew 18%. Progressive redeemed its outstanding preferred shares for $500 million in Q1 2024 and announced an annual-variable dividend of $4.50 per share. The company increased personal auto rates by 19% in 2023, and recent news includes reporting May 2025 results and unveiling initiatives for homeownership education and small business support.

Progressive experiences seasonality in demand, with stronger policy growth in the first quarter due to factors like tax rebates. Demand for specialty products like motorcycle and watercraft insurance is influenced by seasonal vehicle usage. Overall, auto insurance demand is relatively inelastic.

The Progressive Corporation is an insurance holding company operating primarily in the financial services sector. It is one of the largest auto insurance groups in the United States, a leading seller of motorcycle and boat policies, and a market leader in commercial auto insurance. Progressive offers personal lines such as auto, motorcycle, watercraft, RV, and property insurance; commercial lines including auto, general liability, property, and workers' compensation insurance; and specialty property-casualty insurance. The company distributes its products through independent insurance agencies, online, by phone, and via a mobile app.

Progressive operates extensively throughout the United States, including the District of Columbia, and has a presence in Bermuda and Canada. Its business owner's policy is available in 46 states, covering an estimated 80% of the commercial multi-peril market. The company's homeowners business is underwritten across the United States, and it has numerous office locations throughout the country.

Progressive maintains a strong brand reputation through long-running advertising campaigns, investments in technology, and a focus on customer satisfaction. The company's 'Snapshot' program and recent initiatives like the 'Open the House' program and commercial vehicle grants further solidify its brand image.

Progressive Corp. is predominantly owned by institutional investors, holding approximately 84.81% to 87.44% of the company's stock. Key institutional shareholders include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Peter B. Lewis is the largest individual shareholder, owning 7.64% of the company. Insiders collectively own less than 1% of the company, while retail investors hold about 6.36% to 33.34% of the stock.