What is the 13F Pro Quality Score for PGR?

13F Pro ranks PROGRESSIVE CORP/OH/ (PGR) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View PGR's current score at https://13fpro.ai/research/PGR (free sign-up required for the full ranking).

Which hedge funds own the most PGR stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of PGR include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/PGR as soon as new 13F filings post.

Where does 13F Pro source PGR data?

All PROGRESSIVE CORP/OH/ fundamentals and ownership data come directly from SEC EDGAR. PROGRESSIVE CORP/OH/ files with the SEC under CIK 80661. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is PGR in?

PROGRESSIVE CORP/OH/ (PGR) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives PGR's revenue?

Per PROGRESSIVE CORP/OH/'s latest 10-Q filed with the SEC on 2026-05-04, the biggest revenue drivers are: Net premiums earned ($21.0B, +8% YoY); Investment income ($917M, +13% YoY); Fees and other revenues ($297M, +3.5% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/research/PGR.

What are PGR's largest expenses?

PROGRESSIVE CORP/OH/'s latest 10-Q reports these as the largest expense items: Losses and loss adjustment expenses ($13.8B, +8% YoY); Policy acquisition costs ($1.5B, +5.6% YoY); Other underwriting expenses ($3.0B, +12.1% YoY). Sourced directly from SEC EDGAR filing text for Q1 2026 (quarter ended March 31, 2026).

How often is PGR research updated on 13F Pro?

PGR's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

PROGRESSIVE CORP/OH/(PGR)Stock Analysis

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13F Pro Quality Score

83.6/100

Rank #16 of 2,879 stocksTOP 1%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

79.4/100

Profitability

77.6/100

Balance Sheet

84.8/100

Earnings Quality

87.5/100

Free Cash Flow

79.2/100

Institutional Flow

82.2/100

Revenue Scale

98.5/100

Dilution Risk

87.0/100

PGR Stock Analysis & AI Quality Score

AI stock analysis and institutional research for PROGRESSIVE CORP/OH/ (PGR), a Financials sector company. 13F Pro's AI-powered ranking engine scores PGR at 83.6/100 on a 32-signal composite quality model, placing it at rank #16 of 2,879 stocks — the top 1% of the AI-ranked universe. PGR scores in the top quartile across revenue scale (98.5), earnings quality (87.5), balance sheet strength (84.8). Based on the latest XBRL financial filings (Q1 2026), PROGRESSIVE CORP/OH/ reports quarterly revenue of $22.2B, net income of $2.8B, an operating margin of 16.1%. Top institutional holders of PGR by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, STATE STREET, based on the most recent SEC filings. PGR trades on the NYSE exchange and files with the SEC under CIK 80661. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PGR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for PROGRESSIVE CORP/OH/ directly from SEC EDGAR. PROGRESSIVE CORP/OH/'s 13F Pro composite quality score has ranged between 8 and 84 since 2021, currently 83.6 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

✦

Fun facts about PROGRESSIVE CORP/OH/

Quirks, history, and lore behind PGR — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. financial services company · large-cap · listed on the NYSE · headquartered in Ohio.
2
The Numbers
Annual premiums written exceed $60 billion, making it one of the largest auto insurers in the United States — it has tens of millions of active policies.
3
The History
Founded in 1937, it pioneered the idea of insuring high-risk drivers that other carriers wouldn't touch, turning rejection into a business model.
4
The Secret
It was one of the first insurers to embrace usage-based telematics, putting a little device in your car to prove you're not the maniac your zip code suggests you are.
5
The Lore
Its Snapshot program and aggressive TV ad spending — featuring a certain perky sales rep in a white apron — turned insurance into something weirdly binge-watchable.
6
The Giveaway
Meet Flo, the cheerful spokesperson who's been selling car insurance since 2008 from a fictional white box store — this company's name literally means forward motion.

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What's Driving PGR's Business? Latest 10-Q Breakdown

✓ 20/20 datapoints verified

AI-extracted from PROGRESSIVE CORP/OH/'s 10-Q filed 2026-05-04 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Progressive earned $2.8B net income on $21.0B underwriting revenue with 13.6% underwriting margin, up 8% YoY in net premiums earned, adding 3.3M policies YoY.

Biggest Revenue Drivers

Total revenue: $22.2B+8.7% YoY

Net premiums earned$21.0B+8% YoY

Growth driven by 9% increase in Personal Lines segment and 7% net premiums written growth across both channels.

Investment income$917M+13% YoY

Increase primarily reflects growth in invested assets and increase in recurring investment book yield.

Fees and other revenues$297M+3.5% YoY

Largest Expense Items

Losses and loss adjustment expenses$13.8B+8% YoY

Increase driven by higher severity partially offset by decrease in catastrophe losses and favorable prior accident year development.

Policy acquisition costs$1.5B+5.6% YoY

Increase reflects higher advertising spend of $1.5B, 20% greater than prior year quarter.

Other underwriting expenses$3.0B+12.1% YoY

Increase primarily in employee compensation costs and higher allowance for credit losses on premiums receivable.

Margins: Companywide underwriting margin was 13.6% in Q1 2026 versus 14.0% in Q1 2025, reflecting stable loss ratios and underwriting expense ratios despite 20% increase in advertising spend. Personal Lines margin of 14.0% and Commercial Lines margin of 11.0% were relatively consistent with prior year.

Watch Items from the Filing

Personal auto policy life expectancy trailing 12-month basis declined 8% YoY; trailing 3-month basis down 7%, driven by mix shift and increased marketplace competition.
Personal property policies in force declined 17% YoY in volatile weather markets; company restricting growth and non-renewing policies in weather-exposed states to manage profitability.
Litigation alleging improper claim valuations pending in multiple states; company believes losses are reasonably possible but neither probable nor estimable except for immaterial accruals.
Company issued $1.5B of senior debt in March 2026; debt-to-total capital ratio increased to 20.7% from 18.5% year-end 2025, remaining below 30% policy target.
Paid $7.9B in variable common share dividends in January 2026, representing $13.60 per share, with $8.0B total capital returned in Q1 through dividends and $478M share repurchases.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$22.2B

Net Income

Q1 2026

$2.8B

Free Cash Flow

Q1 2026

$4.3B

Operating Margin

Q1 2026

16.1%

D/E Ratio

Q1 2026

0.26

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+41.2% YoY

$87.67BFY 2025

FY21 $47.70BFY22 $49.61BFY23 $62.11BFY25 $87.67B

Net Income

+189.7% YoY

$11.31BFY 2025

FY21 $3.35BFY22 $722.0MFY23 $3.90BFY25 $11.31B

EPS (Diluted)

+192.2% YoY

$19.23FY 2025

FY21 $5.66FY22 $1.18FY23 $6.58FY25 $19.23

Total Assets

+38.7% YoY

$123.04BFY 2025

FY21 $71.13BFY22 $75.47BFY23 $88.69BFY25 $123.04B

Total Debt

+0.1% YoY

$6.90BFY 2025

FY21 $4.90BFY22 $6.39BFY23 $6.89BFY25 $6.90B

Op. Cash Flow

+64.9% YoY

$17.55BFY 2025

FY21 $7.76BFY22 $6.85BFY23 $10.64BFY25 $17.55B

Metric	FY 2025	FY 2023	FY 2022	FY 2021	FY 2020	FY 2018
Revenue	$87.67B +41.2%	$62.11B +25.2%	$49.61B +4.0%	$47.70B +11.8%	$42.66B +33.4%	$31.98B
Net Income	$11.31B +189.7%	$3.90B +440.6%	$722.0M -78.5%	$3.35B -41.3%	$5.70B +118.1%	$2.62B
EPS (Diluted)	$19.23 +192.2%	$6.58 +457.6%	$1.18 -79.2%	$5.66 -41.4%	$9.66 +118.6%	$4.42
Total Assets	$123.04B +38.7%	$88.69B +17.5%	$75.47B +6.1%	$71.13B +11.0%	$64.10B +37.6%	$46.58B
Total Debt	$6.90B +0.1%	$6.89B +7.8%	$6.39B +30.4%	$4.90B -9.2%	$5.40B +22.5%	$4.40B
Operating Cash Flow	$17.55B +64.9%	$10.64B +55.4%	$6.85B -11.8%	$7.76B +12.4%	$6.91B +9.9%	$6.28B

AI Insight: PGR Financial Trends

Progressive delivered strong revenue growth accelerating from $17.2B in Q1 2024 to $22.7B in Q4 2025, while maintaining stable profitability despite some quarterly volatility.

• Revenue grew 32% from Q1 2024 ($17.2B) to Q4 2025 ($22.7B), showing consistent quarterly expansion.

• Net income increased 27% from Q1 2024 ($2.3B) to Q4 2025 ($3.0B) despite mid-period fluctuations.

• Equity expanded 39% from $21.8B in Q1 2024 to $30.3B in Q4 2025, strengthening capital position.

• Total debt remained essentially flat at $6.9B throughout the period, improving leverage ratios.

⚠ Equity declined from $35.4B in Q3 2025 to $30.3B in Q4 2025, reversing prior growth trend.

⚠ Operating cash flow shows significant quarterly volatility, ranging from $3.0B to $5.2B across periods.

AI Insight: PGR Ratio Trends

Progressive's profitability recovered from Q2 2024 lows with operating margins reaching 18.1% in Q2 2025, while leverage declined to multi-quarter lows.

• Operating margin recovered from 10.3% trough in Q2 2024 to 18.1% peak in Q2 2025.

• Debt-to-equity ratio improved from 0.32 in Q1 2024 to 0.19 in Q3 2025.

• ROE volatility remains elevated, swinging from 25.0% in Q2 2024 to 39.0% in Q2 2025.

⚠ Operating margin declined from Q2 2025 peak of 18.1% to 16.2% in Q4 2025.

⚠ ROA dropped to 8.6% in Q3 2025 from 11.0% in Q2 2025.

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Available Research

13F Pro tracks comprehensive data for PROGRESSIVE CORP/OH/ including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of PGR

BlackRock, Inc.
$10.4B52,323,606 sh
VANGUARD CAPITAL MANAGEMENT LLC
$7.6B38,098,359 sh
STATE STREET CORP
$5.1B25,870,710 sh
Capital Research Global Investors
$4.5B22,574,142 sh
GEODE CAPITAL MANAGEMENT, LLC
$3.2B16,256,844 sh
Capital World Investors
$2.8B14,173,539 sh
BANK OF AMERICA CORP /DE/
$2.6B12,874,152 sh
MASSACHUSETTS FINANCIAL SERVICES CO /MA/
$2.4B12,099,655 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$2.3B11,696,220 sh
ALLIANCEBERNSTEIN L.P.
$2.3B10,165,653 sh

Fund	Value	Shares
BlackRock, Inc.	$10.4B	52,323,606
VANGUARD CAPITAL MANAGEMENT LLC	$7.6B	38,098,359
STATE STREET CORP	$5.1B	25,870,710
Capital Research Global Investors	$4.5B	22,574,142
GEODE CAPITAL MANAGEMENT, LLC	$3.2B	16,256,844
Capital World Investors	$2.8B	14,173,539
BANK OF AMERICA CORP /DE/	$2.6B	12,874,152
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	$2.4B	12,099,655
VANGUARD PORTFOLIO MANAGEMENT LLC	$2.3B	11,696,220
ALLIANCEBERNSTEIN L.P.	$2.3B	10,165,653

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Is PGR a good stock to buy?

13F Pro's AI-powered analysis of PROGRESSIVE CORP/OH/ (PGR) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PGR are available on the PGR stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own PGR?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PGR. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of PROGRESSIVE CORP/OH/'s investment landscape.