Analysts’ Recent Ratings Updates for Progressive (PGR)

A number of research firms have changed their ratings and price targets for Progressive (NYSE: PGR):

• 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.
• 11/11/2024 – Progressive was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/8/2024 – Progressive had its price target raised by analysts at TD Cowen from $197.00 to $237.00. They now have a “hold” rating on the stock.
• 11/6/2024 – Progressive had its price target raised by analysts at Evercore ISI from $277.00 to $285.00. They now have an “outperform” rating on the stock.
• 11/1/2024 – Progressive was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Progressive Price Performance

PGR opened at $243.24 on Wednesday. The stock has a 50-day moving average price of $253.02 and a 200-day moving average price of $238.38. The firm has a market cap of $142.49 billion, a PE ratio of 17.68, a P/E/G ratio of 0.70 and a beta of 0.38. The Progressive Co. has a 1 year low of $156.06 and a 1 year 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.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.18. The company had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. Sell-side analysts predict that The Progressive Co. will post 13.2 earnings per share for the current fiscal year.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.40 annualized dividend and a yield of 0.16%. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Insider Buying and Selling

In other Progressive news, Director Dyke Kahina Van sold 2,180 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the sale, the director now owns 13,723 shares in the company, valued at $3,462,038.44. The trade was a 13.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,161 shares of company stock valued at $3,979,549. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Progressive

Hedge funds have recently made changes to their positions in the business. SMART Wealth LLC purchased a new stake in Progressive in the 3rd quarter worth about $295,000. DGS Capital Management LLC bought a new position in shares of Progressive during the third quarter valued at approximately $458,000. Oddo BHF Asset Management Sas purchased a new stake in shares of Progressive in the third quarter worth approximately $35,253,000. Synovus Financial Corp lifted its stake in shares of Progressive by 6.4% during the 3rd quarter. Synovus Financial Corp now owns 2,069 shares of the insurance provider’s stock worth $525,000 after acquiring an additional 124 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Progressive by 65.8% during the 3rd quarter. Tidal Investments LLC now owns 72,163 shares of the insurance provider’s stock valued at $18,312,000 after acquiring an additional 28,636 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

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.