The Progressive Corporation (NYSE:PGR) Receives $237.37 Consensus Target Price from Brokerages

The Progressive Corporation (NYSE:PGR) has been given a consensus rating of “Hold” by the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $238.0526.

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a report on Tuesday, March 31st. UBS Group raised their target price on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. BMO Capital Markets restated a “market perform” rating and set a $220.00 price objective on shares of Progressive in a report on Wednesday, May 20th. Wells Fargo & Company lowered Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 target price for the company. in a research report on Monday, June 29th. Finally, Evercore set a $240.00 target price on Progressive in a report on Friday.

Progressive Trading Down 0.1%

PGR stock opened at $230.59 on Monday. The firm has a fifty day moving average price of $206.90 and a 200 day moving average price of $206.76. Progressive has a fifty-two week low of $189.20 and a fifty-two week high of $254.93. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $134.74 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 4.36 and a beta of 0.26.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. During the same period in the prior year, the company earned $4.37 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Progressive will post 17.3 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s payout ratio is presently 2.03%.

Progressive News Summary

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the insurer’s near-term upside. Mizuho Raises Progressive Price Target
• Positive Sentiment: DOWLING & PARTNERS increased its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the broader consensus of $17.28, which suggests analysts see continued earnings strength. Progressive Analyst Estimate Increase
• Positive Sentiment: One recent commentary piece argued that improving underwriting trends and a possible index-exit effect could be a “game changer” for Progressive, reinforcing the bullish view that fundamentals may support the stock. Index Exit and Upbeat Underwriting Trends Could Be A Game Changer For Progressive
• Neutral Sentiment: Another article said Progressive still looks fully valued after Russell Growth Index exits, which could limit enthusiasm even though it does not change the company’s operating outlook. Progressive After Russell Growth Index Exits Still Looks Fully Valued
• Neutral Sentiment: A comparison piece versus Allstate argued that Progressive’s valuation remains premium relative to peers, highlighting a potential headwind for multiple expansion rather than a direct business concern. Allstate Vs. Progressive: Buy Allstate’s Deep-Value Multiple Not Progressive’s Premium Run

Insiders Place Their Bets

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the transaction, the insider directly owned 41,290 shares in the company, valued at $8,258,000. This represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the transaction, the director directly owned 22,546 shares in the company, valued at $4,877,376.18. This trade represents a 23.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,230 shares of company stock worth $3,165,817 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Progressive

A number of hedge funds have recently bought and sold shares of PGR. Vanguard Group Inc. boosted its position in Progressive by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock valued at $12,584,067,000 after acquiring an additional 593,612 shares in the last quarter. State Street Corp raised its position in shares of Progressive by 0.3% in the 3rd quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after acquiring an additional 78,374 shares in the last quarter. Capital International Investors lifted its stake in shares of Progressive by 8.9% during the 4th quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after purchasing an additional 1,217,527 shares during the last quarter. Capital Research Global Investors boosted its position in Progressive by 26.1% during the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after purchasing an additional 2,314,864 shares in the last quarter. Finally, GQG Partners LLC boosted its position in Progressive by 11.7% during the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock valued at $2,375,706,000 after purchasing an additional 1,092,151 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.