Progressive FY2026 EPS Forecast Raised by DOWLING & PARTN

Key Points

• DOWLING & PARTN raised Progressive’s FY2026 EPS forecast to $18.25 from $18.00, above the current consensus estimate of $17.72.
• Progressive’s latest quarter exceeded expectations, with EPS of $5.67 versus $4.64 expected and revenue of $23.61 billion versus $19.49 billion estimated; revenue increased 5% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $236.05. Institutional investors own 85.34% of the stock, while insiders have recently sold shares under pre-arranged trading plans.

The Progressive Corporation (NYSE:PGR - Free Report) - Research analysts at DOWLING & PARTN raised their FY2026 earnings estimates for Progressive in a research note issued to investors on Monday, August 24th. DOWLING & PARTN analyst D. Lukpanov now forecasts that the insurance provider will post earnings per share of $18.25 for the year, up from their prior forecast of $18.00. The consensus estimate for Progressive's current full-year earnings is $17.72 per share.

Progressive (NYSE:PGR - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share for the quarter, beating analysts' consensus estimates of $4.64 by $1.03. The business had revenue of $23.61 billion during the quarter, compared to analyst estimates of $19.49 billion. Progressive had a net margin of 12.84% and a return on equity of 32.92%. Progressive's revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.40 EPS.

A number of other research firms have also weighed in on PGR. Mizuho set a $236.00 target price on Progressive in a report on Wednesday, August 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Progressive in a research note on Monday, August 3rd. Morgan Stanley raised shares of Progressive from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $190.00 to $210.00 in a report on Friday, July 24th. Royal Bank Of Canada set a $208.00 price target on shares of Progressive in a report on Friday, May 22nd. Finally, Bank of America dropped their price objective on Progressive from $313.00 to $308.00 and set a "buy" rating for the company in a research note on Thursday, July 16th. Seven investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $236.05.

Progressive Stock Performance

NYSE:PGR opened at $221.77 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. Progressive has a 52-week low of $189.20 and a 52-week high of $249.83. The firm has a market cap of $128.93 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 2.99 and a beta of 0.27. The business's fifty day moving average is $216.29 and its 200 day moving average is $206.94.

Institutional Investors Weigh In On Progressive

Several hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Progressive in the second quarter worth $106,822,000. California State Teachers Retirement System increased its stake in shares of Progressive by 23,059.4% in the 2nd quarter. California State Teachers Retirement System now owns 199,767,282 shares of the insurance provider's stock worth $43,639,163,000 after acquiring an additional 198,904,705 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in Progressive by 23.2% during the second quarter. Ameritas Advisory Services LLC now owns 3,733 shares of the insurance provider's stock worth $815,000 after acquiring an additional 703 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Progressive by 72.9% during the second quarter. Wedmont Private Capital now owns 13,293 shares of the insurance provider's stock valued at $3,067,000 after purchasing an additional 5,603 shares in the last quarter. Finally, Yarger Wealth Strategies LLC lifted its holdings in shares of Progressive by 4.3% during the second quarter. Yarger Wealth Strategies LLC now owns 1,717 shares of the insurance provider's stock valued at $396,000 after purchasing an additional 71 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Progressive news, insider Karen Bailo sold 8,452 shares of the firm's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.71, for a total transaction of $1,797,824.92. Following the sale, the insider owned 32,348 shares in the company, valued at $6,880,743.08. This trade represents a 20.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Susan Patricia Griffith sold 37,338 shares of Progressive stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $212.71, for a total value of $7,942,165.98. Following the sale, the chief executive officer directly owned 522,776 shares of the company's stock, valued at approximately $111,199,682.96. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 83,449 shares of company stock valued at $17,685,203 over the last quarter. Insiders own 0.32% of the company's stock.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Thursday, October 1st will be given a $0.10 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.40 annualized dividend and a yield of 0.2%. Progressive's payout ratio is 2.01%.

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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