DOWLING & PARTN Forecasts Increased Earnings for Progressive

Key Points

• DOWLING & PARTN raised its FY2026 EPS forecast for Progressive to $17.75 per share from $16.50, which is above the current consensus estimate of $16.82.
• Progressive beat earnings expectations in its latest quarterly report, posting EPS of $4.80 versus the $4.67 estimate, though revenue of $22.19 billion came in below expectations.
• The stock has drawn mixed Wall Street views, with an average Hold rating and consensus price target of $237.58, while the shares recently traded around $215.90.

The Progressive Corporation (NYSE:PGR - Free Report) - Equities researchers at DOWLING & PARTN boosted their FY2026 EPS estimates for shares of Progressive in a research note issued to investors on Thursday, June 18th. DOWLING & PARTN analyst D. Lukpanov now forecasts that the insurance provider will post earnings of $17.75 per share for the year, up from their prior forecast of $16.50. The consensus estimate for Progressive's current full-year earnings is $16.82 per share.

Other analysts also recently issued reports about the company. Barclays set a $247.00 target price on Progressive in a research note on Wednesday, March 18th. Mizuho cut their price target on Progressive from $235.00 to $223.00 and set a "neutral" rating on the stock in a report on Friday, March 20th. Keefe, Bruyette & Woods raised their price objective on Progressive from $208.00 to $210.00 and gave the company a "market perform" rating in a research note on Thursday, June 18th. Piper Sandler restated an "overweight" rating and set a $259.00 price objective on shares of Progressive in a report on Monday, March 2nd. Finally, Jefferies Financial Group lowered their target price on Progressive from $216.00 to $215.00 and set a "hold" rating on the stock in a research report on Tuesday, March 24th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Progressive has an average rating of "Hold" and an average price target of $237.58.

Progressive Price Performance

Shares of NYSE PGR opened at $215.90 on Wednesday. The firm's 50-day moving average price is $200.60 and its 200-day moving average price is $206.86. Progressive has a 1-year low of $189.20 and a 1-year high of $267.92. The firm has a market capitalization of $126.16 billion, a P/E ratio of 10.98, a P/E/G ratio of 6.39 and a beta of 0.28. 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 - Get Free Report) last issued its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 firm earned $4.37 earnings per share. Progressive's revenue was up 6.5% on a year-over-year basis.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its position in Progressive by 15.6% in the 4th quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in Progressive during the 4th quarter worth $269,000. Bison Wealth LLC boosted its holdings in Progressive by 3.2% during the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock worth $615,000 after acquiring an additional 80 shares during the last quarter. HUB Investment Partners LLC grew its stake in shares of Progressive by 7.8% in the 2nd quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider's stock worth $609,000 after acquiring an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its stake in shares of Progressive by 12.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider's stock worth $3,681,000 after acquiring an additional 1,622 shares in the last quarter. Hedge funds and other institutional investors own 85.34% of the company's stock.

Insider Transactions at Progressive

In other Progressive news, insider Steven Broz sold 1,157 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the sale, the insider directly owned 27,511 shares of the company's stock, valued at approximately $5,633,152.36. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares of the company's stock, valued at approximately $8,258,000. This trade represents a 12.53% 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 a total of 8,230 shares of company stock worth $1,651,507 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd. Progressive's dividend payout ratio is currently 2.03%.

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.

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