The Progressive Corp. (PGR) Declined 6% in Q2

Core Insights - Macquarie Asset Management's "Macquarie Core Equity Fund" reported a return of 11.94% in Q2 2025, outperforming the S&P 500 Index which rose by 10.94% [1] - The strong performance of the equity market was attributed to reduced concerns over potential tariffs from the Trump administration, which paused tariff implementation [1] - The fund's performance was primarily driven by sector selection (80%) and individual security selection (20%) [1] Company Specifics - The Progressive Corporation (NYSE:PGR) experienced a one-month return of -2.79% and a 52-week decline of 6.65%, with its stock closing at $242.00 on September 18, 2025, and a market capitalization of $141.86 billion [2] - The Progressive Corporation's shares declined nearly 6% during the quarter, serving as a defensive security within the diversified portfolio of the Macquarie Core Equity Fund [3] - Progressive is recognized as an industry leader in direct sales of auto and home insurance, with significant potential for market share growth in the coming years [3] Hedge Fund Interest - The Progressive Corporation ranked 30th among the 30 Most Popular Stocks Among Hedge Funds, with 99 hedge fund portfolios holding its shares at the end of Q2 2025, an increase from 91 in the previous quarter [4] - While Progressive is acknowledged for its investment potential, there are suggestions that certain AI stocks may offer greater upside potential and lower downside risk [4]