Marathon Asset Management 13F: Cuts PGR Stake by $2.4M

Marathon Asset Management trimmed its holdings in The Progressive Corporation (PGR) by 11,778 shares, leaving it with 127,210 shares as of its latest Form 13F filing on October 26, 2026.

PGR The Progressive Corporation

$229.25 ▲ +8.23% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Progressive Fits in Marathon Asset Management's Portfolio

Marathon's stake in Progressive represents about 2.09% of its total reported 13F value of $1.26 billion, placing the position 19th out of 76 total holdings.

Other Institutional Activity in Progressive

Barrow Hanley Mewhinney & Strauss holds 1,334,140 shares of Progressive, valued at approximately $291.4 million. AMF Tjanstepension increased its stake by 422,094 shares, bringing its total to 978,170 shares worth about $202.8 million. Accurate Wealth Management reduced its position by 4,215 shares, ending with 2,276 shares valued at about $507,346.

The Progressive Corporation Stock Down 0.7%

As of October 26, 2026, Progressive shares closed at $229.25, which is slightly below the recent trading price of $227.98 as of October 27, 2026. The stock has experienced fluctuations, and this trimming by Marathon indicates a strategic adjustment in their investment approach.

Recent Earnings

Progressive reported trailing twelve-month revenue of approximately $91.7 billion, with a net margin of 12.7% and a return on equity of 33.2%. The next earnings report is expected on January 27, 2027.

Insider Buying and Selling at The Progressive Corporation

Several insiders have sold shares recently, including Chief Executive Officer Susan Patricia Griffith, who sold 37,338 shares on September 1, 2026, for about $8.2 million, and Chief Technology Officer Steven Broz, who sold shares on multiple occasions, totaling 3,675 shares before the recent filing.

Analysts Set New Price Targets

On October 15, 2026, Wells Fargo maintained an Underweight rating on Progressive with a price target of $196. Meanwhile, Keefe, Bruyette & Woods reiterated an Outperform rating with a target of $246. The consensus among analysts suggests a cautious outlook on the stock.

About Progressive

The Progressive Corporation is an insurance company based in Mayfield, Ohio. It provides insurance for personal vehicles, motorcycles, RVs, and residential properties. The company's performance in the market reflects its standing in the competitive insurance sector.

Bottom Line

Marathon's recent reduction in its Progressive stake shows a shift in strategy as the fund reassesses its investments. Investors will want to watch for the upcoming earnings report on January 27, 2027, for further insights into the company's performance.