Brandes Investment Partners 13F: Adds $58M to PGR Stake

Brandes Investment Partners Grows Stake in Progressive

Brandes Investment Partners expanded its investment in The Progressive Corporation (NYSE: PGR), growing its holdings by 44.2% during the period ended May 15, 2026. According to its Form 13F filed with the SEC, the firm purchased an additional 266,412 shares. That move brought its total holdings to 868,688 shares. At the reported cost basis and valuation figures, the stake carried a total value of about $189.8 million.

Progressive Stock Valuation and Trading Range

The insurer's shares trade around $218.45, resting comfortably above the 200-day moving average of $210.10 and near the 50-day moving average of $215.23. The stock has traded in a 52-week range between $189.20 and $248.17. The company operates with a price-to-earnings ratio of 10.6 and a forward price-to-earnings ratio of 13.0, backed by a market capitalization of $123.18 billion.

Recent Insider Transactions at Progressive

Company insiders have recently adjusted their personal holdings through open market sales. On June 24, 2026, Jeffrey Kelly sold 7,000 shares at an average price of $216.33, totaling $1,514,310. Earlier in the month on June 22, 2026, Chief Information Officer Steven Broz sold 1,157 shares at $204.76 per share for a total value of $236,907.32 in a transaction carried out under a pre-arranged plan.

Analysts Set New Price Targets

Wall Street firms hold mixed views on the insurance provider. On October 15, 2026, Wells Fargo maintained its Underweight rating while adjusting its price target to $196.00 from $201.00. On the same day, Keefe, Bruyette & Woods kept an Outperform rating while trimming its target to $246.00 from $252.00. Other firms including Barclays, JP Morgan, and Mizuho have issued recent updates, contributing to a consensus recommendation key of hold alongside a mean price target of $231.38 across 21 analyst opinions.

Understanding The Progressive Corporation

Founded in 1937 and headquartered in Mayfield, Ohio, The Progressive Corporation provides personal and commercial property-casualty insurance across the United States. The company underwrites auto, home, and specialty lines, distributing its products through independent agents as well as direct digital channels.

What to Watch at The Progressive Corporation

Institutional filings such as this one provide a retrospective look at fund positioning during a specific reporting window and may not reflect current holdings. Investors will be monitoring the company's next earnings report, scheduled for release on October 14, 2026, for updated financial metrics.