Progressive (NYSE:PGR – Get Free Report) had its price objective decreased by analysts at BMO Capital Markets from $220.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target would indicate a potential downside of 0.04% from the company’s current price.
Several other research analysts have also recently issued reports on the company. Bank of America decreased their price target on Progressive from $331.00 to $313.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. Keefe, Bruyette & Woods cut their price objective on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating on the stock in a research note on Thursday. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Progressive in a report on Thursday. Morgan Stanley decreased their target price on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. Finally, Barclays set a $247.00 target price on shares of Progressive in a research note on Wednesday, March 18th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $235.68.
View Our Latest Analysis on PGR
Progressive Stock Performance
Progressive (NYSE:PGR – Get Free Report) last posted its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $4.37 EPS. On average, equities research analysts forecast that Progressive will post 17.3 EPS for the current year.
Insider Activity
In related news, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the transaction, the director owned 22,546 shares in the company, valued at $4,877,376.18. This trade represents a 23.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the completion of the transaction, the insider directly owned 27,511 shares in the company, valued at $5,633,152.36. This represents a 4.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,230 shares of company stock valued at $3,165,817 over the last three months. Insiders own 0.32% of the company’s stock.
Institutional Trading of Progressive
Several large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after buying an additional 457 shares during the period. Revolve Wealth Partners LLC acquired a new stake in Progressive during the 4th quarter worth about $269,000. Bison Wealth LLC grew its stake in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares in the last quarter. HUB Investment Partners LLC grew its stake in Progressive by 7.8% during the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock valued at $609,000 after acquiring an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock valued at $3,681,000 after purchasing an additional 1,622 shares during the period. 85.34% of the stock is owned by institutional investors and hedge funds.
Progressive News Summary
Here are the key news stories impacting Progressive this week:
- Positive Sentiment: Progressive reported better-than-expected quarterly earnings, with EPS of $5.67 versus the $4.64 consensus, while revenue of $23.61 billion also beat estimates. Net premiums written rose 5% year over year in the quarter, and policies in force increased 7%, showing the business is still growing. Progressive Reports June 2026 Results
- Neutral Sentiment: Analyst commentary remained mixed, with JPMorgan reaffirming a neutral view and other firms maintaining a range of targets, suggesting investors are still debating valuation after a strong run. Benzinga
- Negative Sentiment: Investors focused on margin and underwriting concerns: June net income fell 31% year over year, EPS for the month dropped 30%, and the combined ratio worsened to 90.0 from 86.6, signaling higher claims/cost pressure. Why Is Progressive Stock Sinking Wednesday?
- Negative Sentiment: The company’s results also pointed to a more competitive insurance market, with commentary indicating softer pricing and margin pressure, which appears to be outweighing the EPS beat in traders’ reaction. Why Progressive Insurance Fell Today
Progressive Company Profile
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.
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