Progressive (PGR) Stock Forecast, Price & News

16 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last twelve months. There are currently 3 sell ratings, 5 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" PGR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PGR, but not buy additional shares or sell existing shares.
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16 equities research analysts have issued 12 month price objectives for Progressive's shares. Their PGR share price forecasts range from $106.00 to $206.00. On average, they expect the company's share price to reach $141.33 in the next twelve months. This suggests a possible upside of 10.6% from the stock's current price.
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Progressive's stock was trading at $129.71 at the beginning of the year. Since then, PGR stock has decreased by 1.4% and is now trading at $127.84.
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Progressive saw a increase in short interest in July. As of July 31st, there was short interest totaling 4,160,000 shares, an increase of 20.2% from the July 15th total of 3,460,000 shares. Based on an average trading volume of 2,990,000 shares, the short-interest ratio is presently 1.4 days. Currently, 0.7% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 12th 2023.
View our PGR earnings forecast.

The Progressive Co. (NYSE:PGR) issued its quarterly earnings data on Thursday, July, 13th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by $0.38. The insurance provider earned $15.23 billion during the quarter, compared to analysts' expectations of $15.24 billion. Progressive had a net margin of 3.12% and a trailing twelve-month return on equity of 12.02%.

Progressive announced a quarterly dividend on Friday, August 4th. Shareholders of record on Thursday, October 5th will be paid a dividend of $0.10 per share on Friday, October 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, October 4th.
Read our dividend analysis for PGR.

ETFs with the largest weight of Progressive (NYSE:PGR) stock in their portfolio include iShares U.S. Insurance ETF (IAK), Invesco KBW Property & Casualty Insurance ETF (KBWP), AXS Brendan Wood TopGun Index ETF (TGN), Democratic Large Cap Core ETF (DEMZ), BNY Mellon Women's Opportunities ETF (BKWO), BNY Mellon Sustainable US Equity ETF (BKUS), Freedom Day Dividend ETF (MBOX) and SPDR S&P Insurance ETF (KIE).

Progressive (NYSE:PGR) pays an annual dividend of $0.40 per share and currently has a dividend yield of 0.31%. The dividend payout ratio is 13.70%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 5.26% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PGR.

Progressive declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 18th 2022, which allows the company to buyback 25,000,000 outstanding shares, according to EventVestor. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

985 employees have rated Progressive Chief Executive Officer Tricia Griffith on Glassdoor.com. Tricia Griffith has an approval rating of 93% among the company's employees. This puts Tricia Griffith in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Progressive investors own include Cisco Systems (CSCO), Walt Disney (DIS), CVS Health (CVS), Intel (INTC), Home Depot (HD), AT&T (T), UnitedHealth Group (UNH), Mastercard (MA), Pfizer (PFE) and Alibaba Group (BABA).

Progressive trades on the New York Stock Exchange (NYSE) under the ticker symbol "PGR."

Progressive's stock is owned by many different institutional and retail investors. Top institutional shareholders include Bank Julius Baer & Co. Ltd Zurich (63.57%), BlackRock Inc. (7.50%), Geode Capital Management LLC (1.94%), Principal Financial Group Inc. (1.29%), Capital World Investors (1.24%) and Artisan Partners Limited Partnership (1.15%). Insiders that own company stock include Andrew J Quigg, Daniel P Mascaro, Devin C Johnson, Dyke Kahina Van, Jeffrey D Kelly, John Jo Murphy, John P Sauerland, John P Sauerland, Karen Bailo, Lori A Niederst, M Jeffrey Charney, Mariann Wojtkun Marshall, Michael D Sieger, Patrick K Callahan, Philip Bleser, Roger N Farah, Steven Broz, Stuart B Burgdoerfer and Susan Patricia Griffith.
View institutional ownership trends.

Shares of PGR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PGR stock can currently be purchased for approximately $127.84.

Progressive (NYSE:PGR) has a market capitalization of $74.83 billion and generates $49.61 billion in revenue each year. The insurance provider earns $721.50 million in net income (profit) each year or $2.92 on an earnings per share basis.

The company employs 55,100 workers across the globe.

Progressive's mailing address is 6300 Wilson Mills Road, Mayfield Village OH, 44143. The official website for the company is www.progressive.com. The insurance provider can be reached via phone at (440) 461-5000, via email at investor_relations@progressive.com, or via fax at 440-446-7436.