DOWLING & PARTN Lifts Earnings Estimates for Progressive

The Progressive Corporation (NYSE:PGR) – Equities researchers at DOWLING & PARTN upped their FY2026 earnings per share estimates for shares of Progressive in a research note issued to investors on Tuesday, July 7th. DOWLING & PARTN analyst D. Lukpanov now expects that the insurance provider will post earnings of $18.00 per share for the year, up from their previous estimate of $17.75. The consensus estimate for Progressive’s current full-year earnings is $17.26 per share.

PGR has been the subject of several other research reports. Mizuho reduced their target price on shares of Progressive from $235.00 to $223.00 and set a “neutral” rating for the company in a report on Friday, March 20th. Bank of America reduced their price objective on shares of Progressive from $331.00 to $313.00 and set a “buy” rating for the company in a research note on Thursday, June 18th. Barclays set a $247.00 price objective on Progressive in a report on Wednesday, March 18th. Royal Bank Of Canada set a $208.00 target price on Progressive in a research report on Friday, May 22nd. Finally, Wells Fargo & Company cut Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target for the company. in a research report on Monday, June 29th. Six equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus target price of $236.47.

Progressive Price Performance

NYSE PGR opened at $232.62 on Thursday. The firm’s 50 day moving average is $205.78 and its 200-day moving average is $206.70. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $135.93 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 4.44 and a beta of 0.26. Progressive has a 12-month low of $189.20 and a 12-month high of $254.93.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.37 EPS.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s payout ratio is currently 2.03%.

Insider Transactions at Progressive

In other news, insider Steven Broz sold 1,157 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total value of $236,907.32. Following the sale, the insider directly owned 27,511 shares of the company’s stock, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their position. The sale 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, Director Jeffrey D. Kelly sold 7,000 shares of the firm’s stock in a transaction dated 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 owned 22,546 shares of the company’s stock, valued at $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. 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 in the last ninety days. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock valued at $12,584,067,000 after acquiring an additional 593,612 shares during the period. State Street Corp boosted its position in Progressive by 0.3% during the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after purchasing an additional 78,374 shares during the period. Capital International Investors boosted its position in Progressive by 8.9% during the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after purchasing an additional 1,217,527 shares during the period. GQG Partners LLC increased its holdings in shares of Progressive by 11.7% in the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock valued at $2,375,706,000 after purchasing an additional 1,092,151 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Progressive in the fourth quarter valued at about $1,836,094,000. 85.34% of the stock is currently owned by institutional investors.

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.