The Progressive Corporation (NYSE:PGR – Free Report) – Stock analysts at DOWLING & PARTN issued their FY2028 earnings per share (EPS) estimates for Progressive in a research report issued on Friday, July 17th. DOWLING & PARTN analyst D. Lukpanov expects that the insurance provider will post earnings of $15.88 per share for the year. The consensus estimate for Progressive’s current full-year earnings is $17.55 per share.
A number of other equities analysts have also recently commented on PGR. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $250.00 price target on shares of Progressive in a research note on Tuesday, July 14th. Morgan Stanley lowered their price objective on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 31st. Royal Bank Of Canada set a $208.00 price objective on shares of Progressive in a report on Friday, May 22nd. Bank of America cut their target price on shares of Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Weiss Ratings cut Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $235.05.
Progressive Trading Down 3.0%
Shares of PGR opened at $205.78 on Wednesday. Progressive has a 1-year low of $189.20 and a 1-year high of $254.93. The company has a market capitalization of $120.25 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.86 and a beta of 0.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27. The firm’s 50 day simple moving average is $209.23 and its 200 day simple moving average is $206.06.
Progressive Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.01%.
Insider Buying and Selling at Progressive
In other news, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director directly owned 22,546 shares of the company’s stock, valued at $4,877,376.18. This trade represents a 23.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,230 shares of company stock worth $3,165,817 over the last ninety days. Insiders own 0.32% of the company’s stock.
Institutional Trading of Progressive
Hedge funds have recently added to or reduced their stakes in the business. Merit Financial Group LLC grew its stake in shares of Progressive by 5.5% during the second quarter. Merit Financial Group LLC now owns 16,667 shares of the insurance provider’s stock valued at $3,641,000 after buying an additional 863 shares during the last quarter. Diversified Trust Co. lifted its stake in shares of Progressive by 21.1% in the 2nd quarter. Diversified Trust Co. now owns 6,089 shares of the insurance provider’s stock valued at $1,330,000 after acquiring an additional 1,062 shares during the last quarter. Cary Street Partners Financial LLC boosted its holdings in Progressive by 15.7% during the 2nd quarter. Cary Street Partners Financial LLC now owns 603 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 82 shares during the period. Liberty Capital Management Inc. purchased a new stake in Progressive during the 2nd quarter valued at about $2,586,000. Finally, Citizens & Northern Corp bought a new position in Progressive during the 2nd quarter worth approximately $220,000. 85.34% of the stock is owned by institutional investors.
Key Stories Impacting Progressive
Here are the key news stories impacting Progressive this week:
- Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to offer RV owners integrated insurance solutions and joint marketing, which could help expand customer reach and strengthen its specialty insurance franchise. Winnebago and Progressive Insurance® team up to elevate the RV ownership experience
- Positive Sentiment: The company also landed a jersey sponsorship deal with Cleveland’s future WNBA team, adding another brand exposure opportunity and reinforcing Progressive’s broad marketing presence. Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
- Neutral Sentiment: One research note cut FY2028 EPS expectations to $15.88 per share versus the current consensus of $17.55, which is a reminder that some analysts see less earnings upside ahead. The Progressive Corporation (PGR) – Free Report
- Neutral Sentiment: Several broader market commentaries noted Progressive’s earnings growth has not been fully reflected in the share price, but these pieces were more valuation-focused than company-specific catalysts. The Progressive Corporation’s (PGR) EPS Growth Not Reflected in Share Price
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.
Featured Stories
- Five stocks we like better than Progressive
- Archer and Anduril Put ACHR Stock on a New Defense Flight Path
- PayPal Rejected a $53 Billion Takeover Bid: Is the Stock Undervalued?
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.
