DOWLING & PARTN Weighs in on Progressive FY2026 Earnings

Key Points

• DOWLING & PARTN expects Progressive to earn $16.50 per share in FY2026, slightly above the consensus estimate of $16.36. The firm also projected $15.50 EPS for FY2027.
• Progressive’s latest quarterly results beat expectations on earnings, posting $4.80 EPS versus the $4.67 estimate. Revenue came in at $22.19 billion, below forecasts, though it still rose 6.5% year over year.
• Wall Street remains cautious on the stock: analysts rate Progressive a Hold on average, with a consensus target price of $238.11. The shares recently traded at $197.00, near their 52-week low of $191.75.

The Progressive Corporation (NYSE:PGR - Free Report) - Analysts at DOWLING & PARTN issued their FY2026 EPS estimates for Progressive in a note issued to investors on Wednesday, May 20th. DOWLING & PARTN analyst D. Lukpanov anticipates that the insurance provider will post earnings per share of $16.50 for the year. The consensus estimate for Progressive's current full-year earnings is $16.36 per share. DOWLING & PARTN also issued estimates for Progressive's FY2027 earnings at $15.50 EPS.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $4.37 earnings per share.

PGR has been the topic of several other reports. UBS Group lifted their target price on shares of Progressive from $218.00 to $220.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. Wells Fargo & Company lifted their target price on shares of Progressive from $218.00 to $222.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Argus raised shares of Progressive to a "hold" rating in a research report on Thursday, March 5th. Finally, Evercore reaffirmed a "negative" rating on shares of Progressive in a research report on Wednesday, March 18th. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Progressive presently has an average rating of "Hold" and an average target price of $238.11.

Progressive Stock Performance

Progressive stock opened at $197.00 on Thursday. The firm's 50 day simple moving average is $200.07 and its 200-day simple moving average is $210.03. The company has a market cap of $115.12 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 7.28 and a beta of 0.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. Progressive has a fifty-two week low of $191.75 and a fifty-two week high of $289.96.

Institutional Trading of Progressive

A number of institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in Progressive by 17.1% in the first quarter. Glenmede Trust Co. NA now owns 256,220 shares of the insurance provider's stock valued at $50,793,000 after acquiring an additional 37,404 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in Progressive in the first quarter valued at approximately $31,000. Wellington Grp LLC lifted its stake in Progressive by 6.3% in the first quarter. Wellington Grp LLC now owns 3,212 shares of the insurance provider's stock valued at $637,000 after acquiring an additional 191 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new stake in Progressive in the first quarter valued at approximately $40,000. Finally, 7G Capital Management LLC acquired a new stake in Progressive in the first quarter valued at approximately $7,930,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Progressive news, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $206.50, for a total value of $55,755.00. Following the completion of the sale, the chief accounting officer directly owned 558 shares in the company, valued at $115,227. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $745,604.00. Following the completion of the sale, the insider owned 32,348 shares of the company's stock, valued at $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,928 shares of company stock worth $831,251 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's payout ratio is presently 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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