PGR at a glance
Progressive Corporation (PGR, SEC CIK 80661) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on September 18, 2026 and Form 4 insider filings as recently as September 28, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Progressive Corporation (PGR) reported revenue of $87.7 billion (up 16.3% from FY2024) and net income of $11.3 billion. Diluted EPS was $19.23.
- As of June 30, 2026, 52 institutional investment managers tracked by SignalX reported holding Progressive Corporation (PGR) shares worth $45.8 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Broz Steven on September 24, 2026 of 1,225 shares at $204.29 per share.
- In the last 90 days, PGR insiders reported 0 open-market purchases ($0) and 10 open-market sales ($23.2M) on Form 4, a net sale of $23.2M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $87.7B
- +16.3% vs prior year
- Insiders · 90 days
- 0 buys · 10 sells
- Net −$23.2M
- 13F holders
- 52 funds
- $45.8B · +1 vs prior quarter
- Latest 8-K
- Sep 18, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- Florida regulatory profit-sharing rule triggered $1.2B policyholder credit expense in 2025, adding 1.5 pts to underwriting expense ratio
- Catastrophe exposure unhedged for personal auto/commercial auto; property reinsurance retention $200M per non-Florida event, $75M per Florida event
- Advertising spend surged to $5.1B in 2025 vs $4.0B in 2024, required to sustain growth momentum amid intensifying direct-channel competition
- Net premiums written-to-surplus ratio at 2.9:1 approaching 3.0:1 regulatory cap, constraining growth capacity without additional capital
Management Discussion & Analysis
- Net premiums written $83.2B, up $8.8B (+12%) YoY; net premiums earned up 15%
- Companywide underwriting margin 12.6% vs 11.2% in 2024; Personal Lines 12.5% vs 11.4%; Commercial Lines 13.0% vs 10.6%
- Best segment: Commercial Lines margin 13.0%; worst: Personal Lines vehicles direct combined ratio 90.1 vs agency 85.4; personal property standout at 24.9% margin vs 1.7% in 2024
- Capital allocation: $8.1B common dividends declared ($13.90/share); share repurchases $166M; operating cash flows +$2.4B YoY; investment portfolio grew to $97.4B from $80.3B
- Key risks: tariffs may raise vehicle loss costs and pressure 2026 profitability; $1.2B Florida policyholder credit recorded; management expects modest rate increases in property and commercial auto through 2026
Business Overview
- Personal Lines/Commercial Lines P&C insurer selling auto, property, and specialty insurance via agency and direct channels across all 50 states
- Personal auto model 9.0 launched Q3 2025: introduced embedded renters insurance as optional auto policy endorsement; live in 10 states representing ~25% of personal auto NPW
- Direct channel share gaining vs agency: direct personal vehicle volume reached 57% in 2025 vs 55% in 2024 and 54% in 2023; direct property also growing to 28% from 23% in 2023
- Investment portfolio surged to $97.4B fair value at year-end 2025, up from $80.3B in 2024 (+21%); total investment income $4.3B vs $3.1B prior year
- ~70,000 employees with 90% annualized retention rate; engagement survey ranked top 1% among 1,000+ U.S. employers surveyed
AI summary of the PGR 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Net premiums written $21.1B, up $1.0B or 5% YoY; net premiums earned up 6%
- Underwriting profit $2.73B; margin 12.7% vs 13.8% YoY
- Commercial Lines strongest: margin 14.7% vs 13.2%; Personal Lines weakest: 12.4% vs 14.0%
- Operating cash flow $8.0B vs $9.2B YoY; $1.2B Florida policyholder credits reduced cash generation
- $1.1B share repurchases; $1.5B senior-note issuance; management expects positive cash flows and no near-term capital raise need
Risk Factors
- No material changes from the December 31, 2025 Form 10-K risk factors
- Carried-forward regulatory, legal, and compliance risks unchanged from the 10-K
- Carried-forward operational and competitive risks unchanged from the 10-K
- Carried-forward liquidity, debt, currency, and concentration risks unchanged from the 10-K
AI summary of the PGR 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- August 2026 monthly and year-to-date financial results released under Regulation FD
- Results cover Progressive and consolidated subsidiaries through August 31, 2026
Item EX-99.1: Item EX-99.1
- August net premiums written rose 6% to $7,605 million, with policies in force up 7% to 40.492 million
- Net income fell 22% to $951 million as the combined ratio worsened to 89.3% from 83.1%
Item 7.01: Regulation FD Disclosure
- July 2026 monthly and year-to-date financial results disclosed under Regulation FD
- Results cover Progressive Corporation and consolidated subsidiaries through July 31, 2026
Item EX-99.1: Item EX-99.1
- July premiums grew 5% to $7,441 million, with policies in force up 7% to 40.304 million
- Net income fell 12% to $961 million, pressured by $47 million of pretax securities losses versus $79 million gains
Item 7.01: Regulation FD Disclosure
- Quarterly dividend declared at $0.10 per share
- Payment scheduled October 9, 2026, for shareholders of record October 1, 2026
AI summaries of PGR 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PGR
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Broz Steven | Sell | Sep 24, 2026 | 1,225 | $204.29 |
| Griffith Susan Patricia | G | Sep 1, 2026 | 1,598 | - |
| Griffith Susan Patricia | Sell | Sep 1, 2026 | 37,338 | $219.50 |
| Broz Steven | Sell | Aug 20, 2026 | 1,225 | $219.40 |
| Niederst Lori A | Sell | Aug 13, 2026 | 7,339 | $209.29 |
| Quigg Andrew J | Sell | Jul 28, 2026 | 3,499 | $220.00 |
| Bauer Jonathan S. | Sell | Jul 27, 2026 | 2,242 | $212.71 |
| Griffith Susan Patricia | Sell | Jul 27, 2026 | 37,338 | $212.71 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $62.1B | $75.4B | $87.7B |
| Net Income | $3.9B | $8.5B | $11.3B |
| Net Margin | 6.3% | 11.3% | 12.9% |
| Balance Sheet | |||
| Total Assets | - | $105.7B | $123.0B |
| Equity | $20.3B | $25.6B | $30.3B |
| ROE | 19.2% | 33.1% | 37.3% |
| Per Share | |||
| EPS | $6.58 | $14.40 | $19.23 |
| Cash Flow | |||
| Operating CF | $10.6B | $15.1B | $17.5B |
| CapEx | $252.0M | $285.0M | $348.0M |
Source: XBRL data in Progressive Corporation (PGR)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PGR share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 52 | $45.80B |
| Q1 2026 | 51 | $42.42B |
| Q4 2025 | 50 | $49.43B |
| Q3 2025 | 49 | $59.45B |
| Q2 2025 | 50 | $60.52B |
| Q1 2025 | 48 | $49.53B |
| Q4 2024 | 40 | $30.86B |
| Q3 2024 | 37 | $16.28B |
- FMR LLC (Fidelity)+3.38M (+43%)
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- Citadel Advisors LLC+270.4K (+60%)
- BlackRock−4.27M (-8%)
- JPMorgan Chase & Co−1.83M (-15%)
- AQR Capital Management−960.2K (-40%)
- Bank of America Corp−595.2K (-5%)
- Two Sigma Investments−497.2K (-14%)
- Viking Global Investors−1.62M
- Blackstone Group−37.8K
Source: 13F-HR filings on SEC EDGAR (aggregated from 377 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PGR filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 28, 2026 | - | - | - |
| 8-K | Sep 18, 2026 | - | Analysis | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 8-K | Aug 19, 2026 | - | Analysis | - |
| 4 | Aug 17, 2026 | - | - | - |
| 8-K | Aug 10, 2026 | - | Analysis | - |
| 10-Q | Aug 3, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 29, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 28, 2026 | - | - | - |
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PGR SEC filings: frequently asked questions
Are PGR insiders buying or selling?
In the last 90 days, Progressive Corporation (PGR) officers, directors and 10% owners reported no open-market purchases and 10 open-market sales worth $23.2 million by 7 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold PGR stock?
As of June 30, 2026, the largest Progressive Corporation (PGR) holders among the 13F filers tracked by SignalX were BlackRock ($10.5 billion), Vanguard Capital Management LLC ($8.3 billion), State Street Corp ($5.8 billion), Bank of America Corp ($2.7 billion), Vanguard Portfolio Management LLC ($2.6 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PGR's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Progressive Corporation (PGR) reported revenue of $87.7 billion (up 16.3% from FY2024) and net income of $11.3 billion. Diluted EPS was $19.23. The figures come from the XBRL data in the 10-K.
What are the main risks in PGR's latest 10-K?
In the 10-K filed March 2, 2026, Progressive Corporation (PGR) flagged: Florida regulatory profit-sharing rule triggered $1.2B policyholder credit expense in 2025, adding 1.5 pts to underwriting expense ratio. Catastrophe exposure unhedged for personal auto/commercial auto; property reinsurance retention $200M per non-Florida event, $75M per Florida event. (AI summary of the Risk Factors section.)
What did PGR report in its latest 8-K?
Progressive Corporation (PGR) filed an 8-K on September 18, 2026 reporting Item 7.01 (Regulation FD Disclosure). August 2026 monthly and year-to-date financial results released under Regulation FD.
What are the latest PGR SEC filings?
Progressive Corporation (PGR) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on September 18, 2026 and a Form 4 insider filing on September 28, 2026.
What is PGR's SEC CIK number?
Progressive Corporation (PGR)'s SEC Central Index Key (CIK) is 80661. EDGAR lists every PGR filing under that number.
Ask anything about PGR
The research agent reads PGR's filings, financials, insider trades and 13F holders, then answers with sources.