BMO Capital Markets Has Lowered Expectations for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its price objective dropped by stock analysts at BMO Capital Markets from $256.00 to $253.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target points to a potential upside of 12.80% from the company’s current price.

A number of other analysts have also commented on PGR. The Goldman Sachs Group reduced their price objective on shares of Progressive from $276.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Mizuho assumed coverage on shares of Progressive in a report on Monday. They set a “neutral” rating and a $242.00 price target on the stock. Barclays decreased their price objective on shares of Progressive from $271.00 to $257.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Progressive in a research report on Monday. Finally, UBS Group reduced their target price on Progressive from $268.00 to $261.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $264.68.

Progressive Stock Performance

PGR opened at $224.30 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.19. The firm has a market cap of $131.53 billion, a PE ratio of 12.30, a P/E/G ratio of 1.26 and a beta of 0.36. The business has a fifty day simple moving average of $222.77 and a 200-day simple moving average of $241.15. Progressive has a fifty-two week low of $199.90 and a fifty-two week high of $292.99.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.64 billion. During the same period last year, the firm earned $3.58 earnings per share. As a group, equities analysts predict that Progressive will post 14.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 1,345 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $228.29, for a total value of $307,050.05. Following the sale, the insider owned 27,698 shares of the company’s stock, valued at $6,323,176.42. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 5,000 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the sale, the chief financial officer owned 223,024 shares in the company, valued at approximately $50,956,523.52. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,690 shares of company stock valued at $1,745,350 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PGR. New York Life Investment Management LLC boosted its stake in shares of Progressive by 1.4% during the second quarter. New York Life Investment Management LLC now owns 87,760 shares of the insurance provider’s stock valued at $23,420,000 after purchasing an additional 1,192 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Progressive in the second quarter valued at approximately $306,000. Wakefield Asset Management LLLP raised its holdings in Progressive by 199.0% in the 2nd quarter. Wakefield Asset Management LLLP now owns 9,411 shares of the insurance provider’s stock valued at $2,511,000 after buying an additional 6,263 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Progressive during the 2nd quarter worth approximately $13,583,000. Finally, Whalen Wealth Management Inc. acquired a new stake in Progressive during the 2nd quarter worth approximately $647,000. Institutional investors and hedge funds own 85.34% of the company’s stock.

Trending Headlines about Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on PGR to $250 and kept a “market perform” rating — a modest vote of confidence that implies upside from current levels. KBW price target raise
• Neutral Sentiment: BMO Capital Markets trimmed its target slightly (from $256 to $253) but maintained a “market perform” view; the change is small and keeps implied upside intact. BMO target change
• Neutral Sentiment: Brokerage consensus remains around “Hold” for PGR, per a recent aggregation — this keeps expectations cautious rather than bullish. Brokerage consensus
• Neutral Sentiment: Investor attention to PGR is high (search and site-traffic notes), which can amplify moves but doesn’t by itself change fundamentals. Investor interest
• Neutral Sentiment: Some headlines discuss dividend implications and a sector downgrade that could alter the investment case — watch for follow-up on capital return policy and whether downgrades spread across insurers. Dividend/sector piece
• Neutral Sentiment: Be aware of name confusion in newsfeeds: unrelated companies (e.g., a drug approval for “JASCAYD” and results from “Progressive Planet”) reference “Progressive” but do not affect PGR’s insurance business. JASCAYD approval (unrelated) Progressive Planet (unrelated)
• Negative Sentiment: Analyst skepticism: Morgan Stanley (and commentary aggregated on TipRanks) reiterated concerns — citing decelerating growth, rising competition and smaller buybacks — and kept a Sell stance, which likely weighs on sentiment and downside risk. Morgan Stanley sell thesis
• Negative Sentiment: Recent coverage notes PGR shares slipped despite a stronger market — short-term technical/flow factors and the negative analyst narrative are contributing to the decline. Price drop article

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.