Progressive (PGR) Stock Forecast, Price & News

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last twelve months. There are currently 2 sell ratings, 6 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street 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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16 Wall Street analysts have issued 1 year target prices for Progressive's shares. Their PGR share price forecasts range from $121.00 to $197.00. On average, they anticipate the company's share price to reach $148.13 in the next twelve months. This suggests a possible upside of 14.4% from the stock's current price.
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Progressive's stock was trading at $129.71 at the start of the year. Since then, PGR stock has decreased by 0.2% and is now trading at $129.50.
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The company is scheduled to release its next quarterly earnings announcement on Friday, July 21st 2023.
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The Progressive Co. (NYSE:PGR) released its quarterly earnings data on Thursday, October, 14th. The insurance provider reported $0.14 earnings per share 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 trailing twelve-month return on equity of 13.95% and a net margin of 1.64%. Progressive's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company posted $2.59 EPS.

Progressive announced a quarterly dividend on Friday, May 12th. Investors of record on Friday, July 7th will be given a dividend of $0.10 per share on Friday, July 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Thursday, July 6th.
Read our dividend analysis for PGR.

ETFs with the largest weight of Progressive (NYSE:PGR) stock in their portfolio include iShares U.S. Insurance ETF (IAK), Invesco KBW Property & Casualty Insurance ETF (KBWP), Janus Henderson US Sustainable Equity ETF (SSPX), Invesco DWA Financial Momentum ETF (PFI), Guru Favorite Stocks ETF (GFGF), Formidable Fortress ETF (KONG), Freedom Day Dividend ETF (MBOX) and Corbett Road Tactical Opportunity ETF (OPPX).

Progressive (NYSE:PGR) pays an annual dividend of $0.40 per share and currently has a dividend yield of 0.31%. The dividend payout ratio is 28.37%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 5.09% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PGR.

Progressive declared that its Board of Directors has approved a stock buyback plan on Wednesday, May 18th 2022, which allows the company to repurchase 25,000,000 outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership 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 a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (7.33%), JPMorgan Chase & Co. (4.51%), State Street Corp (4.17%), Bank of America Corp DE (3.27%), Wellington Management Group LLP (3.13%) and FMR LLC (2.14%). Insiders that own company stock include Andrew J Quigg, 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.
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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 $129.50.

Progressive (NYSE:PGR) has a market capitalization of $75.80 billion and generates $49.61 billion in revenue each year. The insurance provider earns $721.50 million in net income (profit) each year or $1.41 on an earnings per share basis.

The company employs 55,100 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, via email at investor_relations@progressive.com, or via fax at 440-446-7436.