DOWLING & PARTN Predicts Higher Earnings for Progressive

Key Points

• DOWLING & PARTN raised its FY2026 earnings estimate for Progressive to $18.00 per share from $17.75, above the current consensus estimate of $17.26.
• Progressive recently beat quarterly EPS expectations, reporting $4.80 per share versus $4.67 expected, while revenue came in at $22.19 billion and rose 6.5% year over year.
• The stock drew mixed analyst sentiment, with the latest consensus still at “Hold” and an average price target of $236.47, even as Progressive also announced a quarterly dividend of $0.10 per share.

The Progressive Corporation (NYSE:PGR - Free Report) - Research analysts at DOWLING & PARTN boosted their FY2026 earnings estimates for Progressive in a research report issued to clients and investors on Tuesday, July 7th. DOWLING & PARTN analyst D. Lukpanov now anticipates that the insurance provider will earn $18.00 per share for the year, up from their previous estimate of $17.75. The consensus estimate for Progressive's current full-year earnings is $17.26 per share.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $23.51 billion. During the same quarter last year, the company earned $4.37 EPS. The company's revenue for the quarter was up 6.5% compared to the same quarter last year.

PGR has been the subject of several other research reports. Jefferies Financial Group reduced their price objective on shares of Progressive from $216.00 to $215.00 and set a "hold" rating for the company in a research report on Tuesday, March 24th. Royal Bank Of Canada set a $208.00 price objective on Progressive in a research report on Friday, May 22nd. Wells Fargo & Company downgraded shares of Progressive from an "equal weight" rating to an "underweight" rating and set a $205.00 price target on the stock. in a research note on Monday, June 29th. Bank of America reduced their target price on shares of Progressive from $331.00 to $313.00 and set a "buy" rating for the company in a research note on Thursday, June 18th. Finally, Evercore reiterated a "negative" rating on shares of Progressive in a report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $236.47.

Progressive Stock Down 0.8%

Progressive stock opened at $232.62 on Thursday. The company's 50-day moving average price is $205.78 and its two-hundred day moving average price is $206.70. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The stock has a market cap of $135.93 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 4.44 and a beta of 0.26. Progressive has a 52 week low of $189.20 and a 52 week high of $254.93.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In other news, Director Jeffrey D. Kelly sold 7,000 shares of the firm's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the sale, the director directly owned 22,546 shares in the company, valued at approximately $4,877,376.18. This trade represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Broz sold 1,157 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the sale, the insider directly owned 27,511 shares in the company, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 15,230 shares of company stock valued at $3,165,817. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Progressive

A number of large investors have recently bought and sold shares of the business. Bogart Wealth LLC boosted its holdings in shares of Progressive by 235.1% in the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider's stock valued at $25,000 after buying an additional 87 shares during the period. Bard Associates Inc. acquired a new stake in shares of Progressive during the fourth quarter worth $27,000. Dagco Inc. bought a new stake in Progressive in the 4th quarter valued at $28,000. HHM Wealth Advisors LLC lifted its position in Progressive by 700.0% in the 1st 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 in the last quarter. Finally, IFC & Insurance Marketing Inc. acquired a new position in Progressive in the 4th quarter worth $29,000. 85.34% of the stock is owned by institutional investors.

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.

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