Progressive (NYSE:PGR) Price Target Raised to $250.00

Progressive (NYSE:PGR) had its price target lifted by Keefe, Bruyette & Woods from $246.00 to $250.00 in a report issued on Thursday,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

Several other research firms have also recently issued reports on PGR. Citigroup lowered their price objective on Progressive from $301.38 to $300.60 and set a “buy” rating on the stock in a report on Monday, December 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of Progressive in a research note on Wednesday. Bank of America reduced their price objective on Progressive from $350.00 to $348.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progressive in a research note on Wednesday. Finally, Evercore ISI dropped their target price on shares of Progressive from $275.00 to $273.00 and set an “in-line” rating for the company in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $264.68.

Progressive Trading Down 0.2%

Shares of PGR stock opened at $224.30 on Thursday. The stock has a 50 day simple moving average of $222.77 and a 200-day simple moving average of $240.83. Progressive has a 1-year low of $199.90 and a 1-year high of $292.99. The company has a market cap of $131.53 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.26 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.29 and a quick ratio of 0.29.

Progressive (NYSE:PGR) last issued 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). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.64 billion. During the same period in the previous year, the firm posted $3.58 EPS. On average, equities research analysts expect that Progressive will post 14.68 EPS for the current fiscal year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Friday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio is currently 2.19%.

Insider Transactions at Progressive

In related news, CFO John P. Sauerland sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the transaction, the chief financial officer directly owned 223,024 shares in the company, valued at approximately $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $228.29, for a total value of $307,050.05. Following the sale, the insider directly owned 27,698 shares of the company’s stock, valued at approximately $6,323,176.42. This trade represents a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,690 shares of company stock worth $1,745,350 over the last ninety days. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Progressive

A number of hedge funds have recently modified their holdings of PGR. Davis Capital Management acquired a new position in Progressive in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of Progressive in the 2nd quarter worth approximately $33,000. Ransom Advisory Ltd purchased a new position in shares of Progressive during the 1st quarter worth approximately $35,000. Howard Hughes Medical Institute acquired a new stake in Progressive in the 2nd quarter valued at approximately $34,000. Finally, Ameriflex Group Inc. raised its position in Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on PGR to $250 and kept a “market perform” rating — a modest vote of confidence that implies upside from current levels. KBW price target raise
• Neutral Sentiment: BMO Capital Markets trimmed its target slightly (from $256 to $253) but maintained a “market perform” view; the change is small and keeps implied upside intact. BMO target change
• Neutral Sentiment: Brokerage consensus remains around “Hold” for PGR, per a recent aggregation — this keeps expectations cautious rather than bullish. Brokerage consensus
• Neutral Sentiment: Investor attention to PGR is high (search and site-traffic notes), which can amplify moves but doesn’t by itself change fundamentals. Investor interest
• Neutral Sentiment: Some headlines discuss dividend implications and a sector downgrade that could alter the investment case — watch for follow-up on capital return policy and whether downgrades spread across insurers. Dividend/sector piece
• Neutral Sentiment: Be aware of name confusion in newsfeeds: unrelated companies (e.g., a drug approval for “JASCAYD” and results from “Progressive Planet”) reference “Progressive” but do not affect PGR’s insurance business. JASCAYD approval (unrelated) Progressive Planet (unrelated)
• Negative Sentiment: Analyst skepticism: Morgan Stanley (and commentary aggregated on TipRanks) reiterated concerns — citing decelerating growth, rising competition and smaller buybacks — and kept a Sell stance, which likely weighs on sentiment and downside risk. Morgan Stanley sell thesis
• Negative Sentiment: Recent coverage notes PGR shares slipped despite a stronger market — short-term technical/flow factors and the negative analyst narrative are contributing to the decline. Price drop article

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.