Y-Intercept (Hong Kong) 13F: Exits The Progressive (PGR) Stake

Y-Intercept (Hong Kong) has sold its entire position in The Progressive Corporation (NYSE: PGR) according to its 13F filing disclosed on October 16, 2026. The fund cut its stake by 67,696 shares, resulting in a complete exit from this investment.

What Changed in Y-Intercept's Position

Y-Intercept's position in The Progressive Corporation went from 67,696 shares to 0 shares, marking a 100% decrease. This sale reflects the fund's decision to exit its holdings in the insurance company entirely.

Other Institutional Activity in The Progressive Corporation

Several other institutional investors have made changes to their holdings in The Progressive Corporation. Blackrock Inc. reduced its stake by 4,274,846 shares, now holding 48,048,848 shares valued at about $10.5 billion. In contrast, Capital Research Global Investors increased its holdings by 3,975,255 shares, ending with 26,549,107 shares worth approximately $5.8 billion. Meanwhile, Vanguard Capital Management LLC added 49,528 shares, bringing its total to 38,148,192 shares valued at around $8.3 billion.

The Progressive Corporation Stock Up 1.8%

The Progressive Corporation recently traded around $217.50. This price is above both its 50-day moving average of $214.71 and its 200-day moving average of $208.66. However, it is about 9.1% below its 52-week high of $239.38 and approximately 5.6% below the mean price target of $230.38 set by analysts.

Recent Earnings

In its latest earnings report, The Progressive Corporation reported a trailing twelve-month revenue of approximately $91.7 billion and an EPS of $19.85. The company has a net margin of 12.7% and a return on equity of 33.2%. The next earnings report is scheduled for January 27, 2027.

Insider Buying and Selling at The Progressive Corporation

Insider trading at The Progressive Corporation shows some recent activity. Officer Lori A Niederst sold 7,339 shares for about $1.54 million on August 13, 2026. Chief Technology Officer Steven Broz sold 1,225 shares at an average price of $219.40 on August 20, valued at around $268,765. CEO Susan Patricia Griffith sold 37,338 shares for approximately $8.2 million on September 1, 2026. Additionally, Broz sold another 1,225 shares at $204.29 on September 24, totaling around $250,255.

Analysts Set New Price Targets

Analysts have been active in maintaining their views on The Progressive Corporation. On September 18, 2026, Keefe, Bruyette & Woods reiterated their "Outperform" rating with a price target of $250. JP Morgan maintained a "Neutral" rating with a price target of $250 on October 5, 2026. Barclays also maintained an "Overweight" rating with a target of $247 on October 7, 2026. Wells Fargo, however, reiterated an "Underweight" rating on October 15, with a lowered target of $196.

About The Progressive Corporation

The Progressive Corporation operates as an insurance company in the United States, focusing on personal auto insurance and special lines products like motorcycles and RVs. It also provides residential property insurance for homeowners and renters. The recent sell-off by Y-Intercept may indicate changes in portfolio strategy regarding this sector.

Bottom Line

As of the latest filing, Y-Intercept (Hong Kong) has exited its investment in The Progressive Corporation completely. Keep an eye on the company's next earnings report scheduled for January 27, 2027, and any further institutional activity that may emerge in upcoming filings. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.