Progressive (PGR) Stock Price, News & Analysis

Company Overview

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, and pick-up trucks used by small businesses, as well as non-fleet taxis, black-car services, and airport taxis; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and long-haul operators; dump trucks used by light contractors and heavy constructions; log trucks and garbage trucks used by dirt, sand and gravel, logging, garbage/debris removal, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses. The Property segment writes residential property insurance for homeowners, other property owners, and renters, as well as offers manufactured homes, personal umbrella insurance, and primary and excess flood insurance. The company offers policy issuance and claims adjusting services; acts as an agent to homeowners, general liability, workers' compensation insurance, and other products; and reinsurance services. It sells its products through independent insurance agencies, as well as through mobile applications and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.

Key Stats

• Today's Range: $257.39 to $263.39
• 50-Day Range: $241.48 to $261.51
• 52-Week Range: $149.14 to $263.39
• Volume: 2.60 million shs
• Average Volume: 2.47 million shs
• Market Capitalization: $153.20 billion
• P/E Ratio: 19.01
• Dividend Yield: 0.15%
• Price Target: $269.56
• Consensus Rating: Moderate Buy

Progressive Stock Analysis - MarketRank™

Progressive scored higher than 94% of companies evaluated by MarketBeat, and ranked 104th out of 931 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Progressive has received a consensus rating of Moderate Buy. The company's average rating score is 2.74, and is based on 12 buy ratings, 6 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Progressive has been the subject of 14 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 4.26%

Earnings Growth

Earnings for Progressive are expected to grow by 4.26% in the coming year, from $13.14 to $13.70 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Progressive is 19.01, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 114.76.

Price to Earnings Ratio vs. Sector

The P/E ratio of Progressive is 19.01, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 27.51.

Price to Earnings Growth Ratio

Progressive has a PEG Ratio of 0.72. PEG Ratios below 1 indicate that a company could be undervalued.

Price to Book Value per Share Ratio

Progressive has a P/B Ratio of 5.64. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.92% of the float of Progressive has been sold short.

Short Interest Ratio / Days to Cover

Progressive has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Progressive has recently increased by 13.11%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Yield

Progressive has a dividend yield of 0.16%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

Progressive does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Progressive is 2.91%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Progressive will have a dividend payout ratio of 2.92% next year. This indicates that Progressive will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.3 / 5
• Environmental Score: -1.33

Percentage of Shares Shorted

0.92% of the float of Progressive has been sold short.

Short Interest Ratio / Days to Cover

Progressive has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Progressive has recently increased by 13.11%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 3.2 / 5
• News Sentiment: 0.75

News Sentiment

Progressive has a news sentiment score of 0.75. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.59 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 43 news articles for Progressive this week, compared to 17 articles on an average week.

Search Interest

Only 25 people have searched for PGR on MarketBeat in the last 30 days. This is a decrease of -4% compared to the previous 30 days.

MarketBeat Follows

20 people have added Progressive to their MarketBeat watchlist in the last 30 days. This is an increase of 67% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Progressive insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $18,674,912.00 in company stock.

Percentage Held by Insiders

Only 0.34% of the stock of Progressive is held by insiders.

Percentage Held by Institutions

85.34% of the stock of Progressive is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PGR Stock Analysis - Frequently Asked Questions

How have PGR shares performed this year?

Progressive's stock was trading at $159.28 at the start of the year. Since then, PGR stock has increased by 64.2% and is now trading at $261.52.
View the best growth stocks for 2024 here.

How were Progressive's earnings last quarter?

The Progressive Co. (NYSE:PGR) posted its earnings results on Tuesday, October, 15th. The insurance provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.18. The insurance provider had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.95 billion. Progressive had a trailing twelve-month return on equity of 33.10% and a net margin of 11.27%.

Does Progressive have any subsidiaries?

The following companies are subsidiaries of Progressive: Protective Insurance, ARX Holding Corp., American Strategic Insurance Corp., 358 Ventures Inc., American Strategic Insurance Corp, Ark Royal Underwriters LLC, Artisan and Truckers Casualty Company, and others.

Who are Progressive's major shareholders?

Progressive's top institutional investors include Principal Financial Group Inc. (0.92%), Jennison Associates LLC (0.81%), Sumitomo Mitsui Trust Group Inc. (0.33%) and Swiss National Bank (0.30%). Insiders that own company stock include Susan Patricia Griffith, John P Sauerland, John Jo Murphy, Jeffrey D Kelly, Andrew J Quigg, Karen Bailo, Daniel P Mascaro, Steven Broz, Jonathan S Bauer, Patrick K Callahan, Stuart B Burgdoerfer, Dyke Kahina Van, Devin C Johnson, Barbara R Snyder, Mariann Wojtkun Marshall, Philip Bleser and Michael D Sieger.
View institutional ownership trends.

How do I buy shares of Progressive?

Shares of PGR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Progressive own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Progressive investors own include NVIDIA (NVDA), Meta Platforms (META), Broadcom (AVGO), Chevron (CVX), Advanced Micro Devices (AMD), Arista Networks (ANET) and Adobe (ADBE).

Company Calendar

• Ex-Dividend for 10/11 Dividend: 10/03/2024
• Dividend Payable: 10/11/2024
• Last Earnings: 10/15/2024
• Today: 11/10/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/22/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Fire, marine, & casualty insurance
• Sub-Industry: Property & Casualty Insurance
• Current Symbol: NYSE:PGR
• CUSIP: 74331510
• CIK: 80661
• Web: www.progressive.com
• Phone: (440) 461-5000
• Fax: 440-446-7436
• Employees: 61,400
• Year Founded: 1937

Price Target and Rating

• Average Stock Price Target: $269.56
• High Stock Price Target: $331.00
• Low Stock Price Target: $218.00
• Potential Upside/Downside: +3.1%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.74
• Research Coverage: 19 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $13.76
• Trailing P/E Ratio: 19.01
• Forward P/E Ratio: 19.90
• P/E Growth: 0.72
• Net Income: $3.90 billion
• Net Margins: 11.27%
• Pretax Margin: 14.24%
• Return on Equity: 33.10%
• Return on Assets: 7.90%

Debt

• Debt-to-Equity Ratio: 0.25
• Current Ratio: 0.30
• Quick Ratio: 0.31

Sales & Book Value

• Annual Sales: $71.96 billion
• Price / Sales: 2.13
• Cash Flow: $6.85 per share
• Price / Cash Flow: 38.18
• Book Value: $46.36 per share
• Price / Book: 5.64

Miscellaneous

• Outstanding Shares: 585,812,000
• Free Float: 583,820,000
• Market Cap: $153.20 billion
• Optionable: Optionable
• Beta: 0.36