Progressive Corporation (NYSE: PGR) has been the subject of analysis and speculation recently, with both hedge funds and equities analysts weighing in on the stock. The average rating for Progressive is currently "Hold," according to MarketBeat, with a consensus target price of $141.57.

Hedge funds have shown increased interest in Progressive's stock, with several increasing their holdings in the company. Markel Corp increased its holdings by 4.1% during the first quarter, while Roundview Capital LLC lifted its holdings by 0.8% during the same period. Cibc World Market Inc. also boosted its position by 3.9% in the first quarter. Additionally, Sequoia Financial Advisors LLC demonstrated a significant increase of 103.5% in their position. Hedge funds and institutional investors currently own approximately 83.72% of Progressive's stock.

Equities analysts have offered mixed opinions on Progressive, with ratings ranging from "Overweight" to "Underweight." Wells Fargo & Company downgraded the stock from "Overweight" to "Equal Weight," while JPMorgan Chase & Co. raised the rating from "Neutral" to "Overweight." The target price for Progressive has been adjusted by various analysts, with some lowering it and others increasing it.

The short interest in Progressive has also increased, with 4.38 million shares sold short. Short interest can indicate market sentiment towards a stock, with an increase suggesting increased bearishness. However, Progressive's short interest is relatively low compared to its peers, with a short interest as a percentage of float of 0.75%.

Overall, the mixed opinions from hedge funds and analysts suggest uncertainty surrounding Progressive's stock. Investors should carefully consider all available information before making any investment decisions.