Investment Analysts’ Weekly Ratings Changes for Progressive (PGR)

Progressive (NYSE: PGR) recently received a number of ratings updates from brokerages and research firms:

• 1/10/2025 – Progressive had its price target lowered by analysts at Keefe, Bruyette & Woods from $295.00 to $294.00. They now have an “outperform” rating on the stock.
• 1/6/2025 – Progressive had its price target lowered by analysts at Barclays PLC from $277.00 to $261.00. They now have an “equal weight” rating on the stock.
• 1/3/2025 – Progressive had its price target raised by analysts at JPMorgan Chase & Co. from $251.00 to $256.00. They now have an “overweight” rating on the stock.
• 12/26/2024 – Progressive was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $305.00 price target on the stock.
• 12/16/2024 – Progressive had its price target raised by analysts at Wells Fargo & Company from $299.00 to $302.00. They now have an “overweight” rating on the stock.
• 12/16/2024 – Progressive had its price target lowered by analysts at BMO Capital Markets from $273.00 to $267.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Progressive had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $310.00 price target on the stock.
• 12/10/2024 – Progressive was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating.
• 12/10/2024 – Progressive was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating. They now have a $267.00 price target on the stock.
• 11/19/2024 – Progressive was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/18/2024 – Progressive had its price target raised by analysts at Bank of America Co. from $331.00 to $335.00. They now have a “buy” rating on the stock.

Progressive Trading Up 1.6 %

PGR traded up $3.79 during midday trading on Tuesday, reaching $239.57. 2,256,733 shares of the company’s stock traded hands, compared to its average volume of 2,567,313. The Progressive Co. has a 52 week low of $166.92 and a 52 week high of $270.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a fifty day moving average of $251.23 and a two-hundred day moving average of $241.78. The stock has a market capitalization of $140.34 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 0.70 and a beta of 0.41.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.95 billion. On average, equities analysts anticipate that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive’s payout ratio is currently 2.91%.

Insiders Place Their Bets

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of Progressive stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $242.10, for a total value of $46,241.10. Following the completion of the transaction, the chief accounting officer now directly owns 3,982 shares of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 2,981 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the sale, the insider now directly owns 26,353 shares of the company’s stock, valued at $6,618,555.95. This trade represents a 10.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,919 shares of company stock worth $8,222,168. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rovin Capital UT ADV lifted its holdings in Progressive by 6.9% in the fourth quarter. Rovin Capital UT ADV now owns 1,667 shares of the insurance provider’s stock valued at $399,000 after acquiring an additional 107 shares during the period. Connective Portfolio Management LLC bought a new position in shares of Progressive in the 4th quarter worth approximately $1,371,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Progressive by 16.7% in the fourth quarter. Armstrong Advisory Group Inc. now owns 489 shares of the insurance provider’s stock worth $117,000 after buying an additional 70 shares during the last quarter. Park Avenue Securities LLC grew its position in Progressive by 34.5% during the fourth quarter. Park Avenue Securities LLC now owns 25,364 shares of the insurance provider’s stock valued at $6,077,000 after buying an additional 6,503 shares during the period. Finally, Kathmere Capital Management LLC raised its position in Progressive by 49.2% in the fourth quarter. Kathmere Capital Management LLC now owns 3,168 shares of the insurance provider’s stock worth $759,000 after acquiring an additional 1,045 shares during the period. Institutional investors own 85.34% of the company’s stock.

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.