Progressive (NYSE:PGR) Given New $308.00 Price Target at Bank of America

Progressive (NYSE:PGR) had its target price decreased by Bank of America from $313.00 to $308.00 in a research note issued to investors on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada set a $208.00 price target on Progressive in a research note on Friday, May 22nd. BMO Capital Markets reduced their target price on Progressive from $220.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday. Evercore set a $240.00 target price on Progressive in a research report on Friday, July 10th. Barclays set a $247.00 target price on shares of Progressive in a research note on Wednesday, March 18th. Finally, UBS Group upped their price target on shares of Progressive from $220.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $235.05.

Progressive Stock Performance

Shares of NYSE:PGR opened at $206.14 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. Progressive has a 12 month low of $189.20 and a 12 month high of $254.93. The company has a market capitalization of $120.46 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 3.85 and a beta of 0.26. The firm’s 50-day moving average is $208.49 and its 200 day moving average is $206.49.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. During the same quarter in the previous year, the business earned $4.37 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Progressive will post 17.41 EPS for the current year.

Progressive Dividend Announcement

The firm also recently declared 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 is presently 2.03%.

Insider Activity

In other Progressive news, insider Steven Broz sold 1,157 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was 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 $5,633,152.36. This represents a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction 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 represents a 12.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 15,230 shares of company stock worth $3,165,817. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bard Associates Inc. purchased a new stake in shares of Progressive during the 4th quarter worth $27,000. Dagco Inc. purchased a new position in Progressive in the fourth quarter valued at about $28,000. Bogart Wealth LLC grew its stake in Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. IFC & Insurance Marketing Inc. bought a new position in Progressive in the fourth quarter worth about $29,000. Finally, HHM Wealth Advisors LLC raised its holdings in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 126 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported Q2 earnings above estimates and continued to expand its business, with net premiums written up 5% for the quarter and total policies in force up 7% year over year. Progressive Reports June 2026 Results
• Positive Sentiment: Analysts at Bank of America still rate PGR a buy, even after trimming their price target, suggesting Wall Street still sees meaningful upside from current levels. Benzinga report on Bank of America price target cut
• Neutral Sentiment: Several research firms lowered price targets after the quarter, but most kept market-perform or equivalent ratings, indicating cautious sentiment rather than a strong bearish call. Progressive Analysts Slash Their Forecasts After Q2 Results
• Negative Sentiment: Net income fell 31% in June and the combined ratio worsened, raising concerns that underwriting margins are under pressure in a softer, more competitive insurance environment. Reuters report on quarterly profit and auto insurance demand
• Negative Sentiment: Other commentary highlighted that shares sold off after the earnings release because investors were disappointed by margin concerns and weaker-than-expected profit quality despite the top-line growth. Seeking Alpha news on Q2 results

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.