Keefe, Bruyette & Woods Reiterates Outperform Rating for Progressive (NYSE:PGR)

Progressive (NYSE:PGR)‘s stock had its “outperform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued on Friday, Benzinga reports. They presently have a $250.00 price objective on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 16.96% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Cantor Fitzgerald decreased their target price on Progressive from $220.00 to $200.00 and set a “neutral” rating for the company in a research note on Monday, August 17th. JPMorgan Chase & Co. dropped their price objective on shares of Progressive from $250.00 to $241.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings upgraded Progressive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 28th. Morgan Stanley raised Progressive from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $190.00 to $210.00 in a research report on Friday, July 24th. Finally, UBS Group upped their price target on Progressive from $225.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Progressive presently has a consensus rating of “Hold” and a consensus target price of $235.95.

Progressive Trading Down 1.2%

Shares of NYSE PGR traded down $2.54 during midday trading on Friday, reaching $213.75. The stock had a trading volume of 1,277,781 shares, compared to its average volume of 3,059,807. The firm has a market cap of $124.27 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. Progressive has a twelve month low of $189.20 and a twelve month high of $248.17. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The company’s 50 day moving average price is $215.64 and its 200 day moving average price is $208.53.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, topping the consensus estimate of $4.64 by $1.03. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The company had revenue of $23.61 billion during the quarter, compared to analysts’ expectations of $19.49 billion. During the same period in the prior year, the company posted $5.40 earnings per share. Progressive’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts expect that Progressive will post 17.76 EPS for the current year.

Insiders Place Their Bets

In other Progressive news, Director Jeffrey Kelly sold 7,000 shares of Progressive stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total transaction of $1,514,310.00. Following the completion of the transaction, the director owned 22,546 shares in the company, valued at approximately $4,877,376.18. The trade was a 23.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Susan Griffith sold 37,338 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $219.50, for a total value of $8,195,691.00. Following the sale, the chief executive officer directly owned 485,438 shares of the company’s stock, valued at $106,553,641. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 113,714 shares of company stock worth $24,466,294 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Progressive

Several institutional investors have recently bought and sold shares of PGR. Unique Wealth LLC lifted its stake in shares of Progressive by 4.3% in the 2nd quarter. Unique Wealth LLC now owns 1,240 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 51 shares during the last quarter. Phillips Wealth Planners LLC increased its holdings in Progressive by 2.8% in the 4th quarter. Phillips Wealth Planners LLC now owns 1,916 shares of the insurance provider’s stock valued at $436,000 after purchasing an additional 52 shares during the last quarter. Linden Thomas Advisory Services LLC raised its position in Progressive by 1.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 4,072 shares of the insurance provider’s stock valued at $890,000 after purchasing an additional 55 shares during the period. Brown Miller Wealth Management LLC raised its position in Progressive by 2.4% in the second quarter. Brown Miller Wealth Management LLC now owns 2,365 shares of the insurance provider’s stock valued at $517,000 after purchasing an additional 55 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in Progressive by 7.1% during the first quarter. Sunbelt Securities Inc. now owns 857 shares of the insurance provider’s stock worth $170,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: August net premiums written increased 6% to $7.605 billion, while net premiums earned rose 5% to $7.354 billion. Total policies in force grew 7% to 40.492 million, led by 9% growth in direct auto policies and 7% growth in total personal-lines policies. Progressive Reports August 2026 Results
• Positive Sentiment: Progressive recorded $108 million in pretax net realized investment gains, up 38% from $78 million a year earlier, providing some support to monthly results. Progressive Reports August Premium Growth
• Neutral Sentiment: Mizuho Securities maintained its “Hold” rating on PGR, suggesting limited near-term conviction despite Progressive’s long-term operating strengths. Mizuho Securities Maintains Hold Rating
• Negative Sentiment: August net income fell 22% to $951 million, or $1.63 per diluted share, from $1.22 billion, or $2.07 per share, in the prior-year period. The decline occurred despite premium growth and was worse than the 5% increase in earned premiums.
• Negative Sentiment: The combined ratio deteriorated to 89.3 from 83.1, a 6.2-point increase. The higher ratio signals weaker underwriting profitability and is likely the main reason investors reacted negatively to the release. Progressive Posts 22 Percent Drop in Net Income

About Progressive

Progressive Corporation, founded in 1937 and headquartered in Mayfield Village, Ohio, is an insurance company that primarily serves customers in the United States. The company is best known for its personal and commercial auto insurance businesses and distributes products through independent agents, direct channels and digital platforms.

Progressive offers a broad range of insurance products, including coverage for automobiles, motorcycles, boats, recreational vehicles, homes and renters.