Altfest L J 13F: Cuts The Progressive (PGR) Stake by $1.6M
Key Points
- Altfest L J's reported value in Progressive Corp is now about $247,114 after cutting its position by 86.8%.
- Altfest L J held 1,192 $PGR shares at quarter end, down 86.81% from the prior quarter.
- The stock recently traded around $225.6, which is about equal to its closing price on the event date.
- Analysts have a mean price target of $230.38 for Progressive, with a consensus rating of 'hold' from 21 analysts.
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On October 27, 2026, Altfest L J cut its position in The Progressive Corporation (PGR) by 7,842 shares, bringing its total holdings down to 1,192 shares. This reduction is valued at approximately $1,625,728. The information comes from the fund's latest Form 13F filing with the SEC.
PGR
The Progressive Corporation
What Changed in Altfest L J's Position
Altfest L J's stake in Progressive decreased by 86.8%, with its reported value now at $247,114. The fund holds about 0.11% of its total portfolio in this position, ranking 29th among its 318 reported holdings.
Other Institutional Activity in Progressive
Several other funds adjusted their positions in Progressive recently. Barrow Hanley Mewhinney & Strauss grew its stake by 1,334,140 shares, bringing its total to 1,334,140 shares worth about $291.4 million. AMF Tjanstepension also added 422,094 shares, increasing its total to 978,170 shares valued at approximately $202.8 million. Meanwhile, Coronation Fund Managers sold out of its position, reducing its holdings to zero.
The Progressive Corporation Stock Down 1.6%
The stock recently traded around $225.6, which is about equal to its closing price on October 27, 2026. It is currently above its 50-day moving average by 4% and above its 200-day moving average by 8%. However, it is about 5.8% below its 52-week high of $239.38.
Recent Earnings
Progressive reported trailing twelve-month revenue of approximately $91.7 billion and an EPS of $19.85. The next earnings report is scheduled for January 27, 2027.
Insider Buying and Selling at The Progressive Corporation
Since August 2026, several insiders have sold shares of Progressive. For example, CEO Susan Patricia Griffith sold 37,338 shares on September 1, 2026, valued at about $8.2 million. Chief Technology Officer Steven Broz also sold shares on multiple occasions, with the latest sale being 1,225 shares on October 22, 2026.
Analysts Set New Price Targets
On October 15, 2026, Wells Fargo maintained an 'Underweight' rating with a price target of $196. Meanwhile, Keefe, Bruyette & Woods reiterated its 'Outperform' rating with a target of $250 on September 18, 2026.
About Progressive Corp
The Progressive Corporation operates as an insurance company in the United States, offering personal auto insurance and coverage for specialized vehicles like motorcycles and RVs. It also provides homeowners and renters insurance. This position change by Altfest L J reflects broader trends in institutional investment in the insurance sector.
Bottom Line
Investors should keep an eye on the upcoming earnings date on January 27, 2027, as well as any further changes in institutional holdings or analyst ratings regarding Progressive Corporation.
Related Filing Alerts
Source: Altfest L J's 13F filing on $PGR (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts