Progressive (NYSE:PGR) Price Target Raised to $222.00

Progressive (NYSE:PGR) had its price target increased by investment analysts at Wells Fargo & Company from $218.00 to $222.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.02% from the company’s current price.

A number of other brokerages have also issued reports on PGR. Weiss Ratings lowered shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $220.00 target price on shares of Progressive in a research report on Wednesday. Barclays set a $247.00 price target on shares of Progressive in a report on Wednesday, March 18th. Zacks Research raised shares of Progressive from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $225.00 price target on shares of Progressive in a report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Progressive presently has an average rating of “Hold” and a consensus price target of $239.78.

Progressive Price Performance

PGR traded down $0.81 on Thursday, reaching $201.79. The company had a trading volume of 424,260 shares, compared to its average volume of 3,150,018. The company has a fifty day moving average of $200.65 and a 200-day moving average of $210.34. The company has a market capitalization of $117.91 billion, a P/E ratio of 10.27, a PEG ratio of 5.86 and a beta of 0.31. 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 has a one year low of $191.75 and a one year high of $289.96.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.13. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. Progressive’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.37 EPS. As a group, equities research analysts anticipate that Progressive will post 16.4 earnings per share for the current year.

Insider Activity

In other Progressive news, insider Karen Bailo sold 3,517 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider directly owned 32,348 shares in the company, valued at $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Carl G. Joyce sold 270 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $206.50, for a total transaction of $55,755.00. Following the completion of the transaction, the chief accounting officer owned 558 shares of the company’s stock, valued at approximately $115,227. The trade was a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,933 shares of company stock valued at $1,441,564 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its stake in Progressive by 30.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock worth $25,381,000 after acquiring an additional 23,833 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of Progressive by 36.9% during the 3rd quarter. Prospera Financial Services Inc now owns 19,240 shares of the insurance provider’s stock valued at $4,752,000 after purchasing an additional 5,184 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Progressive by 19.9% during the 3rd quarter. Federated Hermes Inc. now owns 629,095 shares of the insurance provider’s stock valued at $155,355,000 after purchasing an additional 104,563 shares during the last quarter. Mariner LLC increased its position in shares of Progressive by 7.9% during the 3rd quarter. Mariner LLC now owns 644,636 shares of the insurance provider’s stock valued at $159,183,000 after purchasing an additional 47,248 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Progressive by 5.7% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,807,068 shares of the insurance provider’s stock valued at $411,506,000 after purchasing an additional 97,275 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: April net premiums written rose 6% year over year to $7.28 billion, while net premiums earned increased 7%, signaling continued demand and solid business growth. Progressive Reports April 2026 Results
• Positive Sentiment: Net income climbed 10% to $1.087 billion and EPS for common shareholders rose 11% to $1.86, reflecting stronger profitability in the month. Progressive Reports April 2026 Results
• Neutral Sentiment: Total policies in force increased 8% to 39.8 million, showing ongoing customer growth across personal and commercial lines. Progressive Reports April 2026 Results
• Negative Sentiment: The combined ratio worsened to 90.2 from 84.9 a year earlier, suggesting underwriting costs rose relative to premiums and may be limiting enthusiasm around the results. Progressive Reports April 2026 Results

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.