Coronation Fund Managers 13F: Exits The Progressive (PGR) Stake
Key Points
- Coronation Fund Managers sold 9,884 shares of The Progressive Corporation, exiting its position completely and reducing its holdings to zero.
- The Progressive Corporation recently traded around $225.6, about equal to its closing price on the event date.
- Coronation Fund Managers' reported value for its holdings in Progressive was approximately $1.75 billion before the sale.
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On October 27, 2026, Coronation Fund Managers sold 9,884 shares of The Progressive Corporation (PGR), exiting its position completely. This move was disclosed in the fund's latest Form 13F filing with the SEC, which covers the quarter ending September 30, 2026.
PGR
The Progressive Corporation
What Changed in Coronation Fund Managers' Position
Coronation Fund Managers sold out of its entire stake in Progressive, reducing its holdings from 9,884 shares to zero.
Where Progressive Fits in Coronation Fund Managers' Portfolio
Before this transaction, Progressive represented a significant part of Coronation's 49 reported positions, contributing to approximately 0.1% of its total portfolio. With the exit, the fund no longer holds any shares in the company.
Other Institutional Activity in Progressive
Marathon Asset Management trimmed its position in Progressive by 11,778 shares, ending with 127,210 shares valued at about $26.4 million. Meanwhile, AMF Tjanstepension increased its stake by 422,094 shares, bringing its total to 978,170 shares worth roughly $202.8 million. Accurate Wealth Management sold 4,215 shares, reducing its holdings to 2,276 shares valued at around $507,346.
The Progressive Corporation Stock Down 1.6%
As of October 27, 2026, Progressive shares traded at $225.6, which is about equal to the closing price on the same day. The stock is currently above its 50-day moving average by about 4% and its 200-day moving average by about 8%. However, it remains about 5.8% below its 52-week high of $239.38.
Recent Earnings
The Progressive Corporation reported trailing twelve-month revenue of approximately $91.7 billion, with a net margin of 12.7% and an ROE of 33.2%. The next earnings report is scheduled for January 27, 2027.
Analysts Set New Price Targets
On October 15, 2026, Wells Fargo maintained its Underweight rating on Progressive with a price target of $196. Keefe, Bruyette & Woods reiterated an Outperform rating with a target of $246 on the same day. The consensus rating for Progressive is Hold, with a mean price target of $230.38 from 21 analysts.
About The Progressive Corporation
The Progressive Corporation is a leading insurance company based in Mayfield, Ohio, that provides a range of insurance products, including personal auto insurance and homeowners insurance. This sale by Coronation Fund Managers could reflect a strategic shift in their investment focus.
Bottom Line
Investors should keep an eye on Progressive's upcoming earnings report on January 27, 2027, for more insights into its performance. Additionally, watch for further filings from Coronation Fund Managers to see if they make any new investments or changes in strategy.
Related Filing Alerts
Source: Coronation Fund Managers'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