Progressive (NYSE:PGR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised Progressive’s price target from $208 to $210 and kept a market perform rating, implying only modest upside from the prior close.
• Progressive shares were trading lower on the day, and the stock remains broadly viewed as a Hold by analysts overall, with MarketBeat showing an average price target of $237.58.
• The company recently posted better-than-expected earnings of $4.80 per share and continued to show growth in premiums and policies in force, even as some insiders sold shares and institutional ownership stayed high.

Progressive (NYSE:PGR - Get Free Report) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $208.00 to $210.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 3.27% from the stock's previous close.

A number of other brokerages also recently commented on PGR. UBS Group boosted their target price on Progressive from $218.00 to $220.00 and gave the stock a "neutral" rating in a research note on Monday, March 23rd. Zacks Research upgraded Progressive from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 24th. Royal Bank Of Canada set a $208.00 target price on Progressive in a research note on Friday, May 22nd. Morgan Stanley decreased their target price on Progressive from $205.00 to $190.00 and set an "underweight" rating for the company in a research note on Tuesday, March 31st. Finally, Weiss Ratings cut Progressive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Progressive has an average rating of "Hold" and an average price target of $237.58.

Progressive Trading Down 0.5%

NYSE PGR traded down $1.08 during trading on Thursday, hitting $203.34. The stock had a trading volume of 1,482,417 shares, compared to its average volume of 3,175,740. The company has a market capitalization of $118.82 billion, a PE ratio of 10.33, a PEG ratio of 5.93 and a beta of 0.28. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $199.73 and a 200 day moving average price of $207.42. Progressive has a twelve month low of $189.20 and a twelve month high of $267.92.

Progressive (NYSE:PGR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 EPS for the quarter, topping analysts' consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $23.51 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Progressive will post 16.34 earnings per share for the current year.

Insider Buying and Selling

In other Progressive news, CAO Carl G. Joyce sold 270 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $206.50, for a total value of $55,755.00. Following the sale, the chief accounting officer owned 558 shares of the company's stock, valued at approximately $115,227. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Jo Murphy sold 5,916 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares in the company, valued at $8,258,000. This trade represents a 12.53% 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 7,343 shares of company stock valued at $1,470,355 over the last quarter. Company insiders own 0.32% of the company's stock.

Institutional Trading of Progressive

A number of large investors have recently made changes to their positions in the stock. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Progressive by 42.0% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 36,751 shares of the insurance provider's stock valued at $7,286,000 after acquiring an additional 10,879 shares during the last quarter. Wealthquest Corp purchased a new position in Progressive during the first quarter worth about $201,000. Parallel Advisors LLC lifted its position in Progressive by 10.1% during the first quarter. Parallel Advisors LLC now owns 9,698 shares of the insurance provider's stock worth $1,923,000 after buying an additional 891 shares during the period. First Nebraska Trust Co purchased a new position in Progressive during the first quarter worth about $426,000. Finally, Maripau Wealth Management LLC lifted its position in Progressive by 9.9% during the first quarter. Maripau Wealth Management LLC now owns 2,091 shares of the insurance provider's stock worth $415,000 after buying an additional 189 shares during the period. Institutional investors and hedge funds own 85.34% of the company's stock.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive reported strong May 2026 results, with net premiums written up 6%, net income up 36%, and the combined ratio improving to 82.1 from 86.9 a year ago, signaling better underwriting profitability and continued growth in policies in force. Progressive Reports May 2026 Results
• Positive Sentiment: Bank of America remained bullish on PGR, reiterating a Buy rating and raising its price target to $313 from $331 previously, suggesting meaningful upside from current levels. Benzinga
• Positive Sentiment: Progressive also reported 8% growth in total policies in force, including stronger personal auto growth, which supports the view that demand and market share remain healthy. Progressive Reports May 2026 Results
• Neutral Sentiment: Progressive announced leadership changes, including the planned January 2027 retirement of Personal Lines President Pat Callahan and new roles for Lori Niederst and Heather Day. The company emphasized a smooth internal transition, so investors may view this as routine succession planning rather than a major strategic shift. Progressive Announces Management Changes
• Neutral Sentiment: Recent attention from investors and analysts suggests PGR remains widely watched, but this is not a direct fundamental catalyst by itself. The Progressive Corporation (PGR) is Attracting Investor Attention
• Negative Sentiment: Despite keeping a Buy rating, Bank of America cut its price target from $331 to $313, which can signal slightly more cautious expectations for future upside.
• Negative Sentiment: Media commentary noting that Progressive is “under a lot of pressure” may be adding to sentiment weakness, even if it is not based on a new company filing. Jim Cramer on Progressive Corporation: “That Group Is Under a Lot of Pressure”

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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