Progressive - PGR Stock Forecast, Price & News

14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last year. There are currently 4 sell ratings, 7 hold ratings and 3 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.
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14 equities research analysts have issued twelve-month target prices for Progressive's shares. Their PGR share price forecasts range from $90.00 to $135.00. On average, they anticipate the company's share price to reach $114.00 in the next twelve months. This suggests that the stock has a possible downside of 6.9%.
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Progressive's stock was trading at $102.65 on January 1st, 2022. Since then, PGR shares have increased by 19.3% and is now trading at $122.49.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 13th 2022.
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The Progressive Co. (NYSE:PGR) announced its quarterly earnings results on Thursday, October, 14th. The insurance provider reported $0.14 EPS for the quarter, missing analysts' consensus estimates 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 1.79% and a trailing twelve-month return on equity of 11.52%. The business's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.59 EPS.

Progressive announced a quarterly dividend on Tuesday, August 9th. Shareholders of record on Friday, October 7th will be given a dividend of $0.10 per share on Friday, October 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, October 6th.
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 0.33%. The dividend payout ratio is 28.57%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 6.17% 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 of Directors has initiated a share buyback plan on Wednesday, May 18th 2022, which allows the company to buyback 25,000,000 outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication 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 retail and institutional investors. Top institutional shareholders include State Street Corp (4.25%), Massachusetts Financial Services Co. MA (2.71%), Price T Rowe Associates Inc. MD (1.91%), Artisan Partners Limited Partnership (1.67%), FMR LLC (1.51%) and Principal Financial Group Inc. (1.21%). 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 $122.49.

Progressive (NYSE:PGR) has a market capitalization of $71.65 billion and generates $47.70 billion in revenue each year. The insurance provider earns $3.35 billion in net income (profit) each year or $1.40 on an earnings per share basis.

The company employs 49,000 workers across the globe.

Progressive was founded in 1937.

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.