Progressive (NYSE:PGR) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Progressive (NYSE:PGR) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. reduced their price target on Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Raymond James Financial decreased their price objective on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Jefferies Financial Group reiterated a “hold” rating on shares of Progressive in a research note on Wednesday, December 17th. Citigroup cut their price objective on shares of Progressive from $301.38 to $300.60 and set a “buy” rating on the stock in a report on Monday, December 15th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Progressive in a research note on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $259.39.

Progressive Stock Up 1.9%

Progressive stock traded up $4.03 during midday trading on Monday, hitting $212.11. 1,818,696 shares of the company’s stock were exchanged, compared to its average volume of 3,695,245. Progressive has a 12 month low of $198.50 and a 12 month high of $292.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $124.38 billion, a PE ratio of 11.64, a P/E/G ratio of 1.27 and a beta of 0.34. The firm has a 50-day moving average of $220.53 and a two-hundred day moving average of $231.47.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is 2.19%.

Insider Activity

In other news, CFO John P. Sauerland sold 5,000 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the transaction, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. This trade represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Broz sold 1,344 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $224.80, for a total transaction of $302,131.20. Following the transaction, the insider directly owned 26,354 shares in the company, valued at approximately $5,924,379.20. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,788 shares of company stock valued at $3,018,961. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Progressive

Hedge funds have recently modified their holdings of the business. Davis Capital Management acquired a new position in shares of Progressive during the 3rd quarter valued at about $25,000. Dagco Inc. purchased a new position in Progressive during the fourth quarter worth about $28,000. Atlantic Union Bankshares Corp purchased a new position in Progressive during the second quarter worth about $33,000. Howard Hughes Medical Institute acquired a new position in Progressive in the 2nd quarter valued at about $34,000. Finally, Ameriflex Group Inc. grew its stake in shares of Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after buying an additional 65 shares during the period. 85.34% of the stock is currently owned by institutional investors and hedge funds.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 results topped expectations — Progressive reported quarterly EPS and revenue above consensus, with management citing higher premiums and improved underwriting margins, which supports near-term earnings visibility. Zacks: Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Quarterly profit rose significantly year-over-year, reinforcing the earnings beat and suggesting continued operating leverage in the auto/home insurance portfolio. Reuters: Quarterly profit jumps
• Neutral Sentiment: Company announced a planned CFO retirement effective July 3, 2026, and named Chief Strategy Officer Andrew Quigg as the expected successor; management says a phased handover will ensure continuity. This reduces surprise but still introduces an execution/transition watch item. GlobeNewswire: CFO Transition
• Neutral Sentiment: Official month/quarter December results release provides additional detail on premiums, loss trends and investment results — useful for analysts updating forecasts but not a standalone surprise versus the headline beat. GlobeNewswire: December Results
• Negative Sentiment: An analyst downgrade from Zacks Research to “strong sell” injects short-term selling pressure and raises questions among some investors about valuation and near-term outlook despite the beat. TickerReport: Zacks downgrade
• Negative Sentiment: Notable insider selling activity has been reported in recent months; while not new, continued insider sales can be viewed negatively by some investors and may temper enthusiasm after the earnings pop. Quiver Quant: Retirement & insider activity

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.