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

Progressive (NYSE:PGR) had its price target cut by research analysts at Bank of America from $331.00 to $313.00 in a research 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 target price would indicate a potential upside of 52.96% from the company’s previous close.

A number of other brokerages have also weighed in on PGR. Barclays set a $247.00 price objective on shares of Progressive in a report on Wednesday, March 18th. Piper Sandler reissued an “overweight” rating and set a $259.00 price objective on shares of Progressive in a report on Monday, March 2nd. Argus upgraded shares of Progressive to a “hold” rating in a research report on Thursday, March 5th. The Goldman Sachs Group restated a “buy” rating and set a $225.00 target price on shares of Progressive in a research report on Monday, February 23rd. Finally, Roth Mkm set a $235.00 target price on shares of Progressive in a research report on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $237.74.

Progressive Price Performance

Shares of PGR opened at $204.64 on Thursday. The firm has a market capitalization of $119.58 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 5.93 and a beta of 0.28. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. Progressive has a 1-year low of $189.20 and a 1-year high of $267.92. The company’s fifty day moving average price is $199.73 and its 200-day moving average price is $207.42.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.37 earnings per share. On average, equities research analysts predict that Progressive will post 16.34 EPS for the current year.

Insider Activity at Progressive

In other Progressive news, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the transaction, the insider owned 41,290 shares in the company, valued at approximately $8,258,000. This represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Carl G. Joyce sold 270 shares of the company’s stock in a transaction dated 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 owned 558 shares of the company’s stock, valued at approximately $115,227. This trade represents a 32.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,343 shares of company stock worth $1,470,355 over the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Progressive by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock worth $12,584,067,000 after acquiring an additional 593,612 shares during the period. State Street Corp raised its position in shares of Progressive by 0.3% in the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after acquiring an additional 78,374 shares during the period. Capital International Investors raised its position in shares of Progressive by 8.9% in the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after acquiring an additional 1,217,527 shares during the period. Capital Research Global Investors raised its position in shares of 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 acquiring an additional 2,314,864 shares during the period. Finally, GQG Partners LLC raised its position 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 worth $2,375,706,000 after acquiring an additional 1,092,151 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

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

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.