William Blair Has Optimistic View of Progressive Q3 Earnings

The Progressive Corporation (NYSE:PGR) – Equities researchers at William Blair raised their Q3 2026 earnings per share (EPS) estimates for shares of Progressive in a research report issued on Wednesday, November 19th. William Blair analyst A. Klauber now expects that the insurance provider will post earnings of $4.12 per share for the quarter, up from their prior forecast of $4.11. The consensus estimate for Progressive’s current full-year earnings is $14.68 per share.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. Progressive had a return on equity of 33.88% and a net margin of 12.57%.During the same period last year, the business posted $3.58 earnings per share.

A number of other brokerages have also recently issued reports on PGR. Jefferies Financial Group cut Progressive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $261.00 to $232.00 in a research note on Friday, November 14th. Wolfe Research began coverage on Progressive in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Bank of America dropped their price objective on Progressive from $351.00 to $346.00 and set a “buy” rating for the company in a research note on Wednesday. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of Progressive from $301.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Progressive has an average rating of “Hold” and a consensus target price of $265.71.

Progressive Price Performance

Shares of NYSE:PGR opened at $225.92 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $132.48 billion, a PE ratio of 12.39, a PEG ratio of 1.19 and a beta of 0.29. The company’s fifty day moving average is $229.32 and its 200 day moving average is $249.07. Progressive has a 52 week low of $199.90 and a 52 week high of $292.99.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. New York Life Investment Management LLC raised its holdings in Progressive by 1.4% in the 2nd quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock worth $23,420,000 after acquiring an additional 1,192 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Progressive in the 2nd quarter worth $306,000. Wakefield Asset Management LLLP raised its stake in shares of Progressive by 199.0% in the second quarter. Wakefield Asset Management LLLP now owns 9,411 shares of the insurance provider’s stock worth $2,511,000 after purchasing an additional 6,263 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Progressive during the second quarter valued at $13,583,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Progressive during the second quarter valued at $647,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Progressive

In related news, insider Patrick K. Callahan sold 6,420 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $242.22, for a total value of $1,555,052.40. Following the sale, the insider directly owned 15,192 shares of the company’s stock, valued at $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Susan Patricia Griffith sold 30,659 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $246.06, for a total transaction of $7,543,953.54. Following the sale, the chief executive officer owned 476,286 shares in the company, valued at approximately $117,194,933.16. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,987 shares of company stock worth $10,257,508 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.