JPMorgan Chase & Co. Issues Pessimistic Forecast for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its target price cut by stock analysts at JPMorgan Chase & Co. from $303.00 to $275.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 29.10% from the company’s previous close.

A number of other research analysts have also issued reports on the company. William Blair lowered Progressive from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 18th. Morgan Stanley reaffirmed an “underweight” rating on shares of Progressive in a report on Wednesday, December 17th. Hsbc Global Res raised shares of Progressive from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Bank of America reduced their price target on shares of Progressive from $350.00 to $348.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Finally, Zacks Research cut shares of Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus price target of $260.74.

Progressive Trading Up 1.9%

Progressive stock opened at $213.01 on Wednesday. Progressive has a 52-week low of $199.90 and a 52-week high of $292.99. 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 capitalization of $124.91 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.27 and a beta of 0.34. The firm has a 50-day moving average price of $223.08 and a two-hundred day moving average price of $236.52.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same period last year, the firm posted $3.58 EPS. Sell-side analysts expect that Progressive will post 14.68 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO John P. Sauerland sold 5,000 shares of the business’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 sale, the chief financial officer directly owned 223,024 shares of the company’s stock, valued at $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Broz sold 1,344 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $224.80, for a total value of $302,131.20. Following the sale, the insider directly owned 26,354 shares of the company’s stock, valued at approximately $5,924,379.20. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,034 shares of company stock valued at $2,047,481 in the last quarter. Insiders own 0.34% of the company’s stock.

Institutional Trading of Progressive

Several institutional investors and hedge funds have recently bought and sold shares of PGR. Davis Capital Management acquired a new position in shares of Progressive in the third quarter worth about $25,000. Dagco Inc. acquired a new position in Progressive in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. grew its position in Progressive by 106.6% during the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Progressive during the 2nd quarter valued at $33,000. Finally, Westside Investment Management Inc. lifted its holdings in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $252, providing explicit analyst support that can lift sentiment and buying interest. Article Title
• Positive Sentiment: Analysts still expect high single‑digit bottom‑line growth for the coming quarter and a multi‑year EPS outlook that supports valuation (consensus EPS guidance remains constructive). This underpins arguments that shares are attractively priced versus expected earnings. Article Title
• Neutral Sentiment: JPMorgan lowered its price target (from $303 to $275) but kept an Overweight rating — a mixed signal: upside remains meaningful, but the trimmed target suggests some moderation in near‑term confidence. Article Title
• Neutral Sentiment: Zacks published pieces noting that PGR is “lapping the market” and is a trending name on its platform — increased attention can amplify moves in either direction depending on news flow. Article Title Article Title
• Neutral Sentiment: Analysis shows Progressive’s total shareholder return has outpaced earnings growth over five years — a note for investors weighing valuation vs. capital return track record. Article Title
• Negative Sentiment: Recent execution risk: Progressive missed Q3 EPS consensus (reported $4.45 vs. $5.04 expected) and revenue slightly missed estimates — a reminder that underwriting and loss trends can dent near‑term results and pressure the stock. (Quarterly report: Oct. 15)
• Negative Sentiment: Some coverage noted the stock traded down at points despite “strong” results, highlighting that market rotation, risk‑on leadership and momentum factors can work against insurers even with solid fundamentals. Article Title

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.