Bank of America Issues Pessimistic Forecast for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its target price cut by equities research analysts at Bank of America from $313.00 to $308.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price target would suggest a potential upside of 50.98% from the stock’s current price.

Several other research firms have also commented on PGR. HSBC boosted their price objective on shares of Progressive from $214.00 to $221.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Morgan Stanley dropped their price target 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. William Blair reissued a “market perform” rating on shares of Progressive in a research note on Wednesday. Finally, Barclays set a $247.00 price objective on shares of Progressive in a research report on Wednesday, March 18th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Progressive has an average rating of “Hold” and an average price target of $235.05.

Progressive Stock Down 0.6%

Shares of PGR stock traded down $1.22 during midday trading on Thursday, reaching $204.00. 2,483,021 shares of the stock were exchanged, compared to its average volume of 3,299,531. Progressive has a 1 year low of $189.20 and a 1 year high of $254.93. The firm has a market cap of $119.20 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 4.28 and a beta of 0.26. The company’s 50 day moving average is $208.29 and its two-hundred day moving average is $206.64. 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 (NYSE:PGR) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.37 EPS. On average, equities research analysts predict that Progressive will post 17.3 EPS for the current year.

Insider Buying and Selling at Progressive

In other news, Director Jeffrey D. Kelly sold 7,000 shares of Progressive stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the transaction, the director owned 22,546 shares of the company’s stock, valued at $4,877,376.18. The trade was a 23.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Broz sold 1,157 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $204.76, for a total transaction of $236,907.32. Following the sale, the insider directly owned 27,511 shares of the company’s stock, valued at $5,633,152.36. The trade was a 4.04% decrease in their position. 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 worth $3,165,817 over the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of Progressive

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Klingman & Associates LLC boosted its position in shares of Progressive by 1.7% during the 4th quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after purchasing an additional 48 shares in the last quarter. Revisor Wealth Management LLC increased its holdings in Progressive by 2.7% in the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock valued at $395,000 after buying an additional 50 shares in the last quarter. Cullen Investment Group LTD. lifted its position in shares of Progressive by 0.7% during the 4th quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider’s stock valued at $1,606,000 after acquiring an additional 52 shares during the period. Pines Wealth Management LLC boosted its stake in shares of Progressive by 3.9% during the 4th quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock worth $319,000 after acquiring an additional 52 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Progressive by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock worth $4,267,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive beat Q2 EPS estimates and reported solid growth in premiums written and earned, with net premiums written up 5% for the quarter and policies in force up 7% year over year. Progressive Reports June 2026 Results
• Positive Sentiment: Some longer-term commentary still views Progressive as a strong operator, with articles arguing the company’s core growth thesis remains intact despite the selloff. Progressive: Still The Motor King? After Q2, The Thesis Still Holds
• Neutral Sentiment: Analysts mostly trimmed price targets but kept neutral ratings, suggesting expectations were reset rather than turning outright bearish. BMO cut its target to $205 and KBW lowered its target to $226, both with market-perform views. Progressive Analysts Slash Their Forecasts After Q2 Results
• Neutral Sentiment: More cautious commentary also noted that Q2 results were mixed, with margin concerns and a softer, more competitive insurance pricing environment weighing on sentiment. Why Progressive Insurance Fell Today
• Negative Sentiment: Investors reacted negatively to a sharp drop in June net income and a worse combined ratio, which suggested higher costs and weaker underwriting profitability in the quarter. Progressive Reports June 2026 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.