Mizuho Issues Positive Forecast for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its price target hoisted by Mizuho from $217.00 to $243.00 in a research report sent to investors on Thursday, MarketBeat.com reports. The firm currently has a neutral rating on the insurance provider’s stock.

PGR has been the subject of a number of other research reports. Keefe, Bruyette & Woods increased their target price on Progressive from $210.00 to $231.00 and gave the company a “market perform” rating in a research note on Wednesday. Wells Fargo & Company cut Progressive from an “equal weight” rating to an “underweight” rating and set a $205.00 price target for the company. in a report on Monday, June 29th. Morgan Stanley lowered their price objective on shares of Progressive from $205.00 to $190.00 and set an “underweight” rating for the company in a research report on Tuesday, March 31st. Bank of America dropped their price objective on shares of Progressive from $331.00 to $313.00 and set a “buy” rating on the stock in a research note on Thursday, June 18th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $220.00 target price on shares of Progressive in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $237.53.

Progressive Stock Performance

NYSE PGR opened at $229.16 on Thursday. The business’s 50-day moving average price is $206.30 and its 200 day moving average price is $206.74. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. Progressive has a twelve month low of $189.20 and a twelve month high of $254.93. The company has a market capitalization of $133.91 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 4.40 and a beta of 0.26.

Progressive (NYSE:PGR) last announced its quarterly earnings results 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. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. During the same quarter last year, the business earned $4.37 EPS. Progressive’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that Progressive will post 17.28 earnings per share for the current year.

Progressive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.03%.

Insiders Place Their Bets

In related news, insider John Jo Murphy sold 5,916 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This trade represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider owned 27,511 shares in the company, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,230 shares of company stock valued at $3,165,817 over the last quarter. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Progressive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allstate Corp increased its stake in shares of Progressive by 106.1% in the fourth quarter. Allstate Corp now owns 44,513 shares of the insurance provider’s stock worth $10,136,000 after purchasing an additional 22,915 shares in the last quarter. Norges Bank bought a new stake in shares of Progressive during the 4th quarter valued at $1,836,094,000. Mariner LLC lifted its stake in shares of Progressive by 7.9% during the 3rd quarter. Mariner LLC now owns 644,636 shares of the insurance provider’s stock valued at $159,183,000 after buying an additional 47,248 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Progressive by 5.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock valued at $411,506,000 after buying an additional 97,275 shares in the last quarter. Finally, Investment House LLC bought a new position in Progressive in the 4th quarter worth $8,447,000. 85.34% of the stock is owned by institutional investors.

Progressive News Roundup

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Mizuho raised its price target on Progressive (PGR) to $243 from $217, while keeping a neutral rating, signaling improved expectations for the shares. Benzinga report on Mizuho price target increase
• Positive Sentiment: DOWLING & PARTN boosted its FY2026 EPS estimate for Progressive to $18.00 from $17.75, above the broader consensus of $17.26, which suggests analysts still see solid earnings power ahead. MarketBeat Progressive report
• Neutral Sentiment: Keefe, Bruyette & Woods also lifted its price target to $231 from $210, but maintained only a market perform rating, implying limited upside from current levels. Tickerreport article on KBW target increase
• Neutral Sentiment: Recent commentary noted Progressive may remain fully valued after its Russell Growth Index exit, reinforcing the idea that valuation is capping enthusiasm despite strong fundamentals. Yahoo Finance article on valuation after Russell Growth Index exit
• Negative Sentiment: A comparison piece argued that Progressive’s premium valuation looks stretched versus Allstate, especially as Allstate’s underwriting improved while Progressive’s combined ratio did not show similar progress. 247WallSt comparison of Allstate vs. Progressive

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.