Bank of America Lowers Progressive (NYSE:PGR) Price Target to $308.00

Progressive (NYSE:PGR) had its price target reduced by investment analysts at Bank of America from $313.00 to $308.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective indicates a potential upside of 50.98% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Progressive in a research note on Wednesday. BMO Capital Markets dropped their price target on Progressive from $220.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank Of Canada set a $208.00 price objective on Progressive in a research report on Friday, May 22nd. Barclays set a $247.00 price objective on Progressive in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $235.05.

Progressive Price Performance

NYSE:PGR traded down $1.22 during mid-day trading on Thursday, hitting $204.00. 2,483,021 shares of the company’s stock traded hands, 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 company 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 has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50 day simple moving average is $208.29 and its 200 day simple moving average is $206.64.

Progressive (NYSE:PGR) last released its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, beating the consensus estimate of $4.67 by $0.13. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $23.51 billion. During the same period in the prior year, the business earned $4.37 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that Progressive will post 17.3 EPS for the current year.

Insider Buying and Selling at Progressive

In other news, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the completion of the sale, the insider owned 41,290 shares in the company, valued at approximately $8,258,000. The trade was a 12.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Broz sold 1,157 shares of Progressive 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 transaction, the insider directly owned 27,511 shares in the company, valued at approximately $5,633,152.36. This trade represents a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,230 shares of company stock worth $3,165,817 in the last 90 days. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Progressive

Several hedge funds and other institutional investors have recently bought and sold shares of PGR. Bogart Wealth LLC grew its position in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares in the last quarter. Bard Associates Inc. bought a new position in shares of Progressive in the 4th quarter worth about $27,000. Dagco Inc. acquired a new position in shares of Progressive in the 4th quarter valued at about $28,000. HHM Wealth Advisors LLC boosted its stake in Progressive by 700.0% in the first quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 126 shares during the period. Finally, IFC & Insurance Marketing Inc. acquired a new stake in shares of Progressive during the 4th quarter worth approximately $29,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

More 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.