FY2026 EPS Estimate for Progressive Increased by Analyst

The Progressive Corporation (NYSE:PGR) – Investment analysts at DOWLING & PARTN boosted their FY2026 earnings per share estimates for shares of Progressive in a report released on Wednesday, October 7th. DOWLING & PARTN analyst D. Lukpanov now expects that the insurance provider will post earnings per share of $18.50 for the year, up from their prior estimate of $18.25. The consensus estimate for Progressive’s current full-year earnings is $18.03 per share.

PGR has been the subject of a number of other research reports. BMO Capital Markets reissued a “market perform” rating on shares of Progressive in a research report on Monday, September 21st. Evercore set a $240.00 price target on shares of Progressive in a report on Friday, July 10th. Raymond James Financial reiterated an “outperform” rating and issued a $245.00 price target on shares of Progressive in a research note on Monday, September 21st. HSBC restated a “hold” rating and set a $216.00 price objective on shares of Progressive in a research report on Wednesday. Finally, Mizuho dropped their target price on shares of Progressive from $236.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, September 16th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $235.11.

Progressive Trading Up 2.2%

Progressive stock opened at $218.82 on Friday. Progressive has a one year low of $189.20 and a one year high of $245.64. The business’s fifty day moving average is $214.17 and its 200 day moving average is $208.86. The stock has a market capitalization of $127.21 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 2.33 and a beta of 0.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.29 and a quick ratio of 0.29.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, topping the consensus estimate of $4.64 by $1.03. The firm had revenue of $23.61 billion during the quarter, compared to analysts’ expectations of $19.49 billion. Progressive had a return on equity of 32.92% and a net margin of 12.84%.The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.40 earnings per share.

Progressive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.01%.

Insider Activity at Progressive

In other Progressive news, insider Lori Niederst sold 7,339 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $209.29, for a total transaction of $1,535,979.31. Following the completion of the sale, the insider directly owned 42,567 shares of the company’s stock, valued at approximately $8,908,847.43. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Karen Bailo sold 8,452 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $212.71, for a total transaction of $1,797,824.92. Following the completion of the transaction, the insider owned 32,348 shares in the company, valued at $6,880,743.08. The trade was a 20.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 106,782 shares of company stock valued at $22,965,332 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Progressive

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Progressive during the 2nd quarter valued at about $10,496,271,000. Bank of America Corp DE bought a new position in shares of Progressive during the 2nd quarter valued at approximately $2,682,342,000. GQG Partners LLC purchased a new stake in Progressive in the 2nd quarter worth approximately $1,538,570,000. Deutsche Bank AG purchased a new stake in Progressive in the 2nd quarter worth approximately $1,098,838,000. Finally, Jupiter Topco LLC bought a new stake in Progressive during the 2nd quarter worth approximately $935,172,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Company Profile

Progressive Corporation is an insurance holding company that provides personal and commercial insurance products in the United States. Its primary business is automobile insurance, serving consumers through direct channels, independent agents and other distribution partners.

The company offers coverage for personal vehicles, motorcycles, recreational vehicles, boats and other specialty vehicles. Its personal insurance portfolio also includes homeowners, renters, condominium and other property coverage, while its commercial business provides insurance for commercial vehicles and related risks.