DOWLING & PARTN Predicts Progressive FY2028 Earnings

The Progressive Corporation (NYSE:PGR) – Investment analysts at DOWLING & PARTN issued their FY2028 earnings estimates for shares of Progressive in a report released on Friday, July 17th. DOWLING & PARTN analyst D. Lukpanov anticipates that the insurance provider will earn $15.88 per share for the year. The consensus estimate for Progressive’s current full-year earnings is $17.55 per share.

PGR has been the subject of several other reports. Bank of America lowered their price objective on shares of Progressive from $313.00 to $308.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. UBS Group raised their target price on Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $208.00 price target on Progressive in a report on Friday, May 22nd. HSBC upped their price target on Progressive from $214.00 to $221.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Finally, Mizuho increased their price objective on Progressive from $217.00 to $243.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $235.05.

Progressive Price Performance

Shares of Progressive stock opened at $205.78 on Wednesday. The firm has a market cap of $120.25 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.86 and a beta of 0.26. Progressive has a 12-month low of $189.20 and a 12-month high of $254.93. The company has a quick ratio of 0.27, a current ratio of 0.32 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $209.23 and its two-hundred day simple moving average is $206.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after purchasing an additional 457 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Progressive during the fourth quarter valued at approximately $269,000. Bison Wealth LLC grew its stake in Progressive by 3.2% in the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock worth $615,000 after purchasing an additional 80 shares during the period. HUB Investment Partners LLC grew its stake in Progressive by 7.8% in the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider’s stock worth $609,000 after purchasing an additional 166 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in Progressive by 12.0% in the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider’s stock worth $3,681,000 after purchasing an additional 1,622 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Insider Transactions at Progressive

In related news, Director Jeffrey D. Kelly sold 7,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the transaction, the director directly owned 22,546 shares of the company’s stock, valued at $4,877,376.18. This represents a 23.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares of the company’s stock, valued at $8,258,000. This trade represents a 12.53% 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. In the last ninety days, insiders sold 15,230 shares of company stock valued at $3,165,817. Company insiders own 0.32% of the company’s stock.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.01%.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to offer RV owners integrated insurance solutions and joint marketing, which could help expand customer reach and strengthen its specialty insurance franchise. Winnebago and Progressive Insurance® team up to elevate the RV ownership experience
• Positive Sentiment: The company also landed a jersey sponsorship deal with Cleveland’s future WNBA team, adding another brand exposure opportunity and reinforcing Progressive’s broad marketing presence. Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
• Neutral Sentiment: One research note cut FY2028 EPS expectations to $15.88 per share versus the current consensus of $17.55, which is a reminder that some analysts see less earnings upside ahead. The Progressive Corporation (PGR) – Free Report
• Neutral Sentiment: Several broader market commentaries noted Progressive’s earnings growth has not been fully reflected in the share price, but these pieces were more valuation-focused than company-specific catalysts. The Progressive Corporation’s (PGR) EPS Growth Not Reflected in Share Price

About Progressive

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.