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Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
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Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market

Progressive (PGR) Stock Price, News & Analysis

$214.69
+4.94 (+2.36%)
(As of 04/19/2024 ET)
Today's Range
$210.54
$215.18
50-Day Range
$181.99
$214.69
52-Week Range
$111.41
$215.18
Volume
4.19 million shs
Average Volume
2.91 million shs
Market Capitalization
$125.74 billion
P/E Ratio
21.97
Dividend Yield
0.19%
Price Target
$211.88

Progressive MarketRank™ Stock Analysis

Analyst Rating
Hold
2.41 Rating Score
Upside/​Downside
1.3% Downside
$211.88 Price Target
Short Interest
Healthy
0.75% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-1.33
Upright™ Environmental Score
News Sentiment
0.65mentions of Progressive in the last 14 days
Based on 47 Articles This Week
Insider Trading
Selling Shares
$7.46 M Sold Last Quarter
Proj. Earnings Growth
5.70%
From $11.22 to $11.86 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.57 out of 5 stars

Finance Sector

153rd out of 857 stocks

Fire, Marine, & Casualty Insurance Industry

8th out of 50 stocks

PGR stock logo

About Progressive Stock (NYSE:PGR)

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.

PGR Stock Price History

PGR Stock News Headlines

JPMorgan Chase, Advanced Micro Devices fall; Progressive, Exxon Mobil rise, 4/12/2024
Stocks that are trading heavily or have substantial price changes on Friday: JPMorgan Chase, Advanced Micro Devices fall; Progressive, Exxon Mobil rise
A.I. Pioneer Issues Urgent Warning to Americans
With artificial intelligence creeping into every facet of our lives, what should you be doing to "A.I.-Proof" your future? It's the question on many of our minds.
Canada holds state funeral to honor Brian Mulroney, one of its most consequential prime ministers
Politicians, dignitaries and celebrities joined members of the public at a state funeral to honor Brian Mulroney, one of Canada’s most consequential prime ministers who in the 1980s solidified trade ties with the U.S. and spoke out against South Africa’s apartheid
Progressive (NYSE:PGR) Reaches New 1-Year High at $214.02
A.I. Pioneer Issues Urgent Warning to Americans
With artificial intelligence creeping into every facet of our lives, what should you be doing to "A.I.-Proof" your future? It's the question on many of our minds.
Progressive (NYSE:PGR) PT Raised to $218.00 at UBS Group
Progressive’s Strong Underwriting Performance Signals Buy Rating
Citi Remains a Hold on Progressive (PGR)
Progressive (NYSE:PGR) PT Raised to $247.00 at Morgan Stanley
See More Headlines
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Company Calendar

Ex-Dividend for 1/26 Dividend
1/18/2024
Dividend Payable
1/26/2024
Ex-Dividend for 4/12 Dividend
4/03/2024
Last Earnings
4/12/2024
Dividend Payable
4/12/2024
Today
4/21/2024
Next Earnings (Estimated)
7/11/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Fire, marine, & casualty insurance
Sub-Industry
Property & Casualty Insurance
CUSIP
74331510
Employees
61,400
Year Founded
1937

Price Target and Rating

Average Stock Price Target
$211.88
High Stock Price Target
$273.00
Low Stock Price Target
$112.00
Potential Upside/Downside
-1.3%
Consensus Rating
Hold
Rating Score (0-4)
2.41
Research Coverage
17 Analysts

Profitability

Net Income
$3.90 billion
Pretax Margin
11.21%

Debt

Sales & Book Value

Annual Sales
$62.11 billion
Cash Flow
$6.94 per share
Book Value
$37.24 per share

Miscellaneous

Free Float
583,707,000
Market Cap
$125.74 billion
Optionable
Optionable
Beta
0.35

Social Links

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Should I Buy Progressive Stock? PGR Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in The Progressive Co.:

  • The Progressive Co. has shown consistent growth in its insurance products and related services, catering to both personal and commercial clients in the United States.
  • Recent insider transactions, such as CEO Susan Patricia Griffith selling shares at a significant value, indicate confidence in the company's performance.
  • Strong institutional investor ownership of over 85% signifies trust and interest from major financial entities in Progressive's potential for growth.
  • The company's stock price has been stable and has shown resilience in the face of market fluctuations, providing a sense of security to investors.
  • Progressive's strategic focus on different insurance segments like Personal Lines, Commercial Lines, and Property diversifies its revenue streams and reduces risk exposure.

Cons

Investors should be bearish about investing in The Progressive Co. for these reasons:

  • While the company has shown growth, the competitive nature of the insurance industry could lead to pricing pressures and potential margin squeezes.
  • Fluctuations in interest rates and regulatory changes in the insurance sector could impact Progressive's profitability and financial performance.
  • Dependency on external factors like weather-related events for property insurance claims could introduce volatility in the company's earnings.
  • Market conditions and economic uncertainties may affect consumer behavior, leading to changes in demand for insurance products offered by Progressive.
  • Investors should carefully monitor the company's underwriting practices and risk management strategies to assess potential exposure to unforeseen losses.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, April 10, 2024. Please send any questions or comments about these Progressive pros and cons to contact@marketbeat.com.

PGR Stock Analysis - Frequently Asked Questions

Should I buy or sell Progressive stock right now?

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last year. There are currently 1 sell rating, 8 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" PGR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PGR, but not buy additional shares or sell existing shares.
View PGR analyst ratings
or view top-rated stocks.

What is Progressive's stock price target for 2024?

17 Wall Street research analysts have issued twelve-month price objectives for Progressive's shares. Their PGR share price targets range from $112.00 to $273.00. On average, they anticipate the company's stock price to reach $211.88 in the next year. This suggests that the stock has a possible downside of 1.3%.
View analysts price targets for PGR
or view top-rated stocks among Wall Street analysts.

How have PGR shares performed in 2024?

Progressive's stock was trading at $159.28 at the start of the year. Since then, PGR shares have increased by 34.8% and is now trading at $214.69.
View the best growth stocks for 2024 here
.

When is Progressive's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 11th 2024.
View our PGR earnings forecast
.

How were Progressive's earnings last quarter?

The Progressive Co. (NYSE:PGR) posted its earnings results on Friday, April, 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.20 by $0.74. The insurance provider had revenue of $18.96 billion for the quarter, compared to analysts' expectations of $16.88 billion. Progressive had a trailing twelve-month return on equity of 29.43% and a net margin of 8.89%. The business's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share.

How often does Progressive pay dividends? What is the dividend yield for Progressive?

Progressive announced a quarterly dividend on Friday, March 1st. Shareholders of record on Thursday, April 4th will be given a dividend of $0.10 per share on Friday, April 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Wednesday, April 3rd.
Read our dividend analysis for PGR
.

Is Progressive a good dividend stock?

Progressive (NYSE:PGR) pays an annual dividend of $0.40 per share and currently has a dividend yield of 0.19%. The dividend payout ratio is 4.09%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 3.37% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PGR.

How will Progressive's stock buyback program work?

Progressive declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 18th 2022, which authorizes the company to repurchase 25,000,000 shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

What is Tricia Griffith's approval rating as Progressive's CEO?

985 employees have rated Progressive Chief Executive Officer Tricia Griffith on Glassdoor.com. Tricia Griffith has an approval rating of 93% among the company's employees. This puts Tricia Griffith in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Progressive own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Progressive investors own include Cisco Systems (CSCO), Walt Disney (DIS), CVS Health (CVS), Intel (INTC), Home Depot (HD), AT&T (T), UnitedHealth Group (UNH), Mastercard (MA), Pfizer (PFE) and Alibaba Group (BABA).

Who are Progressive's major shareholders?

Progressive's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (0.34%), Confluence Investment Management LLC (0.16%), Los Angeles Capital Management LLC (0.15%), Allspring Global Investments Holdings LLC (0.11%), Bonness Enterprises Inc. (0.10%) and Perpetual Ltd (0.09%). Insiders that own company stock include Andrew J Quigg, Barbara R Snyder, Daniel P Mascaro, Devin C Johnson, Dyke Kahina Van, Jeffrey D Kelly, John Jo Murphy, John P Sauerland, John P Sauerland, Karen Bailo, Lori A Niederst, M Jeffrey Charney, Mariann Wojtkun Marshall, Michael D Sieger, Patrick K Callahan, Philip Bleser, Roger N Farah, Steven Broz, Stuart B Burgdoerfer and Susan Patricia Griffith.
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.

Does Progressive have any subsidiaries?
The following companies are subsidiares of Progressive: 358 Ventures Inc., ARX Holding Corp., ASI Assurance Corp., ASI Home Insurance Corp., ASI Lloyds Inc., ASI Preferred Insurance Corp., ASI Select Auto Insurance Corp., ASI Select Insurance Corp., ASI Underwriters Corp., ASI Underwriters of Texas Inc., American Strategic Insurance Corp, American Strategic Insurance Corp., Ark Royal Underwriters LLC, Artisan and Truckers Casualty Company, B&L Brokerage Services Inc., B&L Insurance Ltd., B&L Management Inc., Blue Hill Specialty Insurance Company Inc., Drive Insurance Holdings Inc., Drive New Jersey Insurance Company, Gadsden AL LLC, Garden Sun Insurance Services Inc., Mountain Laurel Assurance Company, National Continental Insurance Company, PC Investment Company, Pacific Motor Club, Progny Agency Inc., Progressive Adjusting Company Inc., Progressive Advanced Insurance Company, Progressive Advantage Agency Inc., Progressive American Insurance Company, Progressive Auto Pro Insurance Agency Inc., Progressive Bayside Insurance Company, Progressive Capital Management Corp., Progressive Casualty Insurance Company, Progressive Choice Insurance Company, Progressive Classic Insurance Company, Progressive Commercial Advantage Agency Inc., Progressive Commercial Casualty Company, Progressive Commercial Holdings Inc., Progressive Direct Holdings Inc., Progressive Direct Insurance Company, Progressive Express Insurance Company, Progressive Freedom Insurance Company, Progressive Garden State Insurance Company, Progressive Gulf Insurance Company, Progressive Hawaii Insurance Corp., Progressive Innovation Co., Progressive Investment Company Inc., Progressive Life Insurance Company, Progressive Marathon Insurance Company, Progressive Max Insurance Company, Progressive Michigan Insurance Company, Progressive Mountain Insurance Company, Progressive Northern Insurance Company, Progressive Northwestern Insurance Company, Progressive Paloverde Insurance Company, Progressive Preferred Insurance Company, Progressive Premier Insurance Company of Illinois, Progressive Premium Budget Inc., Progressive Property Insurance Company, Progressive RSC Inc., Progressive Security Insurance Company, Progressive Select Insurance Company, Progressive Southeastern Insurance Company, Progressive Specialty Insurance Company, Progressive Universal Insurance Company, Progressive Vehicle Service Company, Progressive West Insurance Company, PropertyPlus Insurance Agency Inc., Protective Insurance, Protective Insurance Company, Protective Insurance Corporation, Protective Specialty Insurance Company, Sagamore Insurance Company, Sunshine Security Insurance Agency Inc., Transport Specialty Insurance Agency Inc., Trussville/Cahaba AL LLC, United Financial Casualty Company, Village Transport Corp., and Wilson Mills Land Co..
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This page (NYSE:PGR) was last updated on 4/21/2024 by MarketBeat.com Staff

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