March 3, 2024

Grand Depart

Experienced In Technology

Who Is The Major Shareholder Of Progressive Insurance?

3 min read
As a professional writer, I understand the importance of providing accurate and reliable information to...
Who Is The Major Shareholder Of Progressive Insurance?
Who Is The Major Shareholder Of Progressive Insurance?

As a professional writer, I understand the importance of providing accurate and reliable information to my readers. In this article, I will be discussing the major shareholder of Progressive Insurance, a well-known insurance company in the United States.

Main Content

Progressive Insurance is a publicly traded company, which means that its shares are available for purchase by anyone on the stock market. As of the company’s latest filings with the Securities and Exchange Commission, the largest shareholders of Progressive Insurance are:

  • The Vanguard Group, Inc. – 11.89%
  • BlackRock, Inc. – 8.31%
  • State Farm Mutual Automobile Insurance Co. – 7.38%
  • Wellington Management Group LLP – 5.23%
  • Capital Research & Management Co. (Global Investors) – 4.63%

It’s worth noting that the ownership percentages of these companies may have changed since the filing, as stock ownership can fluctuate based on buying and selling activity.

As you can see, none of these shareholders individually owns a majority stake in Progressive Insurance. However, when you combine the ownership percentages of these top five shareholders, they own over 37% of the company’s outstanding shares.

It’s also worth mentioning that the co-founders of Progressive Insurance, Peter B. Lewis and Joseph M. Lewis, were both major shareholders in the company until their deaths in 2013 and 2015, respectively. However, their shares were ultimately sold and are now likely held by various institutional investors.

FAQ

  • Who owns Progressive Insurance?
    Progressive Insurance is a publicly traded company, but its largest shareholders are currently The Vanguard Group, BlackRock, State Farm, Wellington Management, and Capital Research & Management.
  • How much of Progressive Insurance is owned by its largest shareholders?
    The top five largest shareholders of Progressive Insurance own over 37% of the company’s outstanding shares.
  • Were the co-founders of Progressive Insurance major shareholders?
    Yes, Peter B. Lewis and Joseph M. Lewis were both major shareholders in the company until their deaths in 2013 and 2015, respectively.
  • Do the ownership percentages of these shareholders change over time?
    Yes, stock ownership can fluctuate based on buying and selling activity, so the ownership percentages of these shareholders may have changed since the latest filing.
  • What happens to the shares owned by the co-founders of Progressive Insurance?
    The shares owned by the co-founders were sold after their deaths and are likely held by various institutional investors.
  • Is Progressive Insurance privately owned?
    No, Progressive Insurance is a publicly traded company.
  • Can individuals purchase shares of Progressive Insurance?
    Yes, anyone can purchase shares of Progressive Insurance on the stock market.
  • What is the current stock price of Progressive Insurance?
    The current stock price of Progressive Insurance can be found on any major financial website or through a brokerage account.

Pros

Knowing who the major shareholders of a company are can be important for a number of reasons. For example, it can help investors understand who is driving the direction of the company, as well as what other companies may be interested in acquiring it. It can also help individuals who are considering a career at the company get a sense of its stability and long-term prospects.

Tips

If you’re interested in purchasing shares of Progressive Insurance or any other publicly traded company, it’s important to do your research and understand the risks involved. Investing always carries some level of risk, and it’s important to be prepared for the possibility of losing money.

It’s also a good idea to work with a licensed financial professional who can help you navigate the complexities of the stock market and make informed decisions about your investments.

Summary

Progressive Insurance is a publicly traded company with a diverse group of major shareholders. While no single shareholder owns a majority stake in the company, the top five shareholders collectively own over 37% of the outstanding shares. Individuals who are considering investing in Progressive Insurance or working for the company may find it helpful to understand who the major shareholders are and what their ownership percentages are.

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.
x