Progressive - PGR Stock Forecast, Price & News

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last twelve months. There are currently 4 sell ratings, 6 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities 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.
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14 analysts have issued twelve-month price objectives for Progressive's shares. Their PGR share price forecasts range from $100.00 to $155.00. On average, they predict the company's share price to reach $125.71 in the next year. This suggests that the stock has a possible downside of 7.8%.
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Progressive's stock was trading at $129.71 at the beginning of the year. Since then, PGR stock has increased by 5.1% and is now trading at $136.31.
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Progressive saw a increase in short interest in the month of January. As of January 15th, there was short interest totaling 2,680,000 shares, an increase of 18.1% from the December 31st total of 2,270,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.5% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, April 13th 2023.
View our PGR earnings forecast.

The Progressive Co. (NYSE:PGR) released its earnings results on Thursday, October, 14th. The insurance provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by $0.08. The insurance provider earned $12.47 billion during the quarter, compared to analyst estimates of $12.33 billion. Progressive had a net margin of 1.45% and a trailing twelve-month return on equity of 15.57%. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 EPS.

Progressive declared a quarterly dividend on Wednesday, December 14th. Stockholders of record on Friday, January 6th will be given a dividend of $0.10 per share on Friday, January 13th. This represents a $0.40 annualized dividend and a yield of 0.29%. The ex-dividend date is Thursday, January 5th.
Read our dividend analysis for PGR.

Progressive (NYSE:PGR) pays an annual dividend of $0.40 per share and currently has a dividend yield of 0.29%. The dividend payout ratio is 33.90%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 4.94% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PGR.

Progressive announced that its board has initiated a stock buyback plan on Wednesday, May 18th 2022, which authorizes the company to buyback 25,000,000 outstanding shares, according to EventVestor. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

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.

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).

Progressive trades on the New York Stock Exchange (NYSE) under the ticker symbol "PGR."

Progressive's stock is owned by many different institutional and retail investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (0.43%), AustralianSuper Pty Ltd (0.25%), Confluence Investment Management LLC (0.22%), New York State Common Retirement Fund (0.21%), Allspring Global Investments Holdings LLC (0.21%) and Parnassus Investments LLC (0.18%). Insiders that own company stock include Andrew J Quigg, Daniel P Mascaro, 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, Roger N Farah, Steven Broz, Stuart B Burgdoerfer and Susan Patricia Griffith.
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Shares of PGR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PGR stock can currently be purchased for approximately $136.31.

Progressive (NYSE:PGR) has a market capitalization of $79.75 billion and generates $49.61 billion in revenue each year. The insurance provider earns $721.50 million in net income (profit) each year or $1.18 on an earnings per share basis.

The company employs 49,000 workers across the globe.

Progressive's mailing address is 6300 Wilson Mills Road, Mayfield Village OH, 44143. The official website for the company is www.progressive.com. The insurance provider can be reached via phone at (440) 461-5000 or via fax at 440-446-7436.