Progressive (NYSE:PGR) Reaches New 52-Week Low - What's Next?

Key Points

• Shares hit a new 52-week low—trading as low as $191.75 (last $193.63) on volume of ~424K, and the stock sits below its 50‑day ($202.73) and 200‑day ($211.43) moving averages, signaling near‑term weakness.
• Mixed quarterly results: Progressive reported an EPS beat of $4.80 vs. $4.67 consensus but missed revenue expectations ($22.19B vs. $23.51B); the company still shows strong profitability (net margin 12.92%, ROE 33.47%) and a P/E of 9.87.
• Analyst and insider signals: Consensus rating is a "Hold" with an average target of $238.39 amid recent target adjustments, while insiders have sold shares recently and the stock yields just 0.2% annually.

Shares of The Progressive Corporation (NYSE:PGR - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $191.75 and last traded at $193.6350, with a volume of 424068 shares trading hands. The stock had previously closed at $195.75.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group decreased 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. Zacks Research upgraded shares of Progressive from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 24th. Citigroup decreased their price objective on shares of Progressive from $300.60 to $261.00 and set a "buy" rating for the company in a research report on Tuesday, February 3rd. Piper Sandler reiterated an "overweight" rating and set a $259.00 price objective on shares of Progressive in a research report on Monday, March 2nd. Finally, UBS Group increased their price objective 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. Six equities research 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, Progressive presently has a consensus rating of "Hold" and an average target price of $238.39.

Progressive Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.35. The firm has a market capitalization of $113.48 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 6.49 and a beta of 0.31. The business's fifty day simple moving average is $202.73 and its 200 day simple moving average is $211.43.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts' consensus estimates of $4.67 by $0.13. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $23.51 billion. Progressive had a net margin of 12.92% and a return on equity of 33.47%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.37 earnings per share. On average, research analysts forecast that The Progressive Corporation will post 16.38 EPS for the current year.

Progressive Announces Dividend

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

Insider Buying and Selling at Progressive

In other news, insider Maribel Pumarejo sold 739 shares of Progressive stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Carl G. Joyce sold 270 shares of Progressive stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $206.50, for a total transaction of $55,755.00. Following the transaction, the chief accounting officer owned 558 shares of the company's stock, valued at $115,227. This represents a 32.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 6,933 shares of company stock valued at $1,441,564 over the last three months. Corporate insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PGR. Brighton Jones LLC lifted its position in shares of Progressive by 15.6% during the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider's stock valued at $813,000 after purchasing an additional 457 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of Progressive during the fourth quarter valued at about $269,000. Bison Wealth LLC lifted its position in shares of Progressive by 3.2% during the fourth quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider's stock valued at $615,000 after purchasing an additional 80 shares in the last quarter. HUB Investment Partners LLC lifted its position in shares of Progressive by 7.8% during the second quarter. HUB Investment Partners LLC now owns 2,282 shares of the insurance provider's stock valued at $609,000 after purchasing an additional 166 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Progressive by 12.0% during the second quarter. Diversify Wealth Management LLC now owns 15,146 shares of the insurance provider's stock valued at $3,681,000 after purchasing an additional 1,622 shares in the last quarter. 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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