Progressive (NYSE:PGR) Given New $232.00 Price Target at BMO Capital Markets

Progressive (NYSE:PGR) had its target price cut by BMO Capital Markets from $239.00 to $232.00 in a report released on Thursday, MarketBeat.com reports. They currently have a market perform rating on the insurance provider’s stock.

Several other analysts have also issued reports on the company. Mizuho set a $240.00 price objective on Progressive in a report on Wednesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progressive in a research note on Wednesday, December 17th. HSBC set a $259.00 price target on Progressive and gave the company an “underperform” rating in a report on Monday, November 17th. Morgan Stanley dropped their price objective on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Zacks Research cut shares of Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $257.27.

Progressive Stock Down 2.2%

PGR stock opened at $208.04 on Thursday. The company has a 50 day moving average of $219.97 and a two-hundred day moving average of $231.18. The company has a quick ratio of 0.29, a current ratio of 0.38 and a debt-to-equity ratio of 0.23. Progressive has a 12-month low of $198.50 and a 12-month high of $292.99. The company has a market cap of $121.99 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.30 and a beta of 0.34.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is 2.19%.

Insider Activity

In other news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $228.29, for a total value of $307,050.05. Following the completion of the sale, the insider directly owned 27,698 shares in the company, valued at approximately $6,323,176.42. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John P. Sauerland sold 5,000 shares of the company’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 approximately $50,956,523.52. This represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,788 shares of company stock worth $3,018,961. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Progressive

Several large investors have recently made changes to their positions in PGR. Eagle Wealth Advisors LLC acquired a new position in shares of Progressive during the fourth quarter worth approximately $335,000. Hingham Institution for Savings acquired a new position in Progressive during the 4th quarter valued at $1,480,000. RMR Wealth Builders bought a new stake in Progressive in the 4th quarter valued at $1,868,000. Anchyra Partners LLC acquired a new stake in Progressive in the 4th quarter worth $279,000. Finally, Nippon Life Global Investors Americas Inc. increased its holdings in shares of Progressive by 7.2% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 25,440 shares of the insurance provider’s stock worth $5,793,000 after purchasing an additional 1,700 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: Q4 results beat expectations — EPS and revenue topped consensus, underwriting remained disciplined with a strong combined ratio, and management highlighted policy/premium momentum and margin focus. This supports the case for sustained profitability. Zacks: Q4 Earnings
• Positive Sentiment: At least one major firm (Bank of America) reiterated a Buy and raised its price target, citing sustained policy momentum and elevated profitability — a bullish analyst view that supports upside vs. many peers. TipRanks: BofA Buy Rating
• Neutral Sentiment: Management announced CFO John Sauerland will retire July 3, 2026, with Chief Strategy Officer Andrew Quigg slated to succeed him; the internal succession plan aims to ensure continuity, which reduces leadership-transition risk but still adds short-term uncertainty. GlobeNewswire: CFO Transition
• Negative Sentiment: Multiple analysts trimmed forecasts and lowered price targets (Wells Fargo to $220, BMO to $232) and at least one shop cut its rating; Zacks moved to a more negative stance — these downgrades and lower targets appear to be the primary driver of selling pressure despite the beat. Benzinga: Analyst Moves The Fly: BMO Target Cut

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.