Progressive (NYSE:PGR) Price Target Lowered to $313.00 at Bank of America

Posted by Brian Himes on Jun 18th, 2026

Progressive (NYSE:PGR – Get Free Report) had its price objective lowered by equities research analysts at Bank of America from $331.00 to $313.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price target would indicate a potential upside of 52.96% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Roth Mkm set a $235.00 price target on shares of Progressive in a research note on Thursday, February 19th. Morgan Stanley cut their price objective on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating on the stock in a report on Tuesday, March 31st. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Evercore reissued a “negative” rating on shares of Progressive in a report on Wednesday, March 18th. Finally, Weiss Ratings lowered shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $237.74.

Check Out Our Latest Stock Report on Progressive

Progressive Stock Performance

Progressive stock opened at $204.64 on Thursday. The company has a 50 day moving average price of $199.73 and a 200-day moving average price of $207.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. Progressive has a fifty-two week low of $189.20 and a fifty-two week high of $267.92. The company has a market capitalization of $119.58 billion, a PE ratio of 10.40, a P/E/G ratio of 5.93 and a beta of 0.28.

Progressive (NYSE:PGR – Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share 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 during the quarter, compared to the consensus estimate of $23.51 billion. During the same quarter in the previous year, the firm posted $4.37 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that Progressive will post 16.34 earnings per share for the current year.

Insider Activity at Progressive

In other Progressive news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $231,400.00. Following the transaction, the insider directly owned 28,668 shares of the company’s stock, valued at approximately $5,733,600. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. This represents a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,343 shares of company stock valued at $1,470,355 over the last ninety days. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progressive

Several institutional investors and hedge funds have recently bought and sold shares of PGR. Norges Bank purchased a new position in Progressive in the fourth quarter worth $1,836,094,000. Capital International Investors grew its holdings in Progressive by 78.9% in the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after purchasing an additional 6,045,732 shares during the last quarter. Wellington Management Group LLP grew its holdings in Progressive by 181.8% in the fourth quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider’s stock worth $1,481,615,000 after purchasing an additional 4,197,212 shares during the last quarter. Diamant Asset Management Inc. grew its holdings in Progressive by 19,724.0% in the first quarter. Diamant Asset Management Inc. now owns 4,068,876 shares of the insurance provider’s stock worth $806,614,000 after purchasing an additional 4,048,351 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Progressive by 26.1% in the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock worth $2,757,905,000 after purchasing an additional 2,314,864 shares during the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

Positive Sentiment: Progressive reported solid May 2026 results, with net premiums written up 6% year over year, policies in force up 8%, net income up 36%, and a better combined ratio of 82.1, signaling stronger underwriting profitability and continued growth. Progressive Reports May 2026 Results
Positive Sentiment: BofA raised its price target on Progressive to $331 from $320 and kept a Buy rating, reinforcing a bullish long-term view on the stock. BofA Raises PT on The Progressive Corporation (PGR) Stock
Neutral Sentiment: The company announced Pat Callahan will retire as Personal Lines President in January 2027, while naming Lori Niederst and Heather Day to new leadership roles. The transition appears orderly, but investors may want to see execution during the handoff. Progressive Announces Management Changes
Neutral Sentiment: Jim Cramer said Progressive is “under a lot of pressure,” which may add some near-term caution, though the comment does not point to a specific new fundamental problem. Jim Cramer on Progressive Corporation: “That Group Is Under a Lot of Pressure”

Progressive Company Profile

(Get Free Report)

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.