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, 7 hold ratings and 3 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 brokerages have issued 12 month price targets for Progressive's stock. 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 10.3%.
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Progressive's stock was trading at $102.65 at the beginning of 2022. Since then, PGR stock has increased by 23.8% and is now trading at $127.06.
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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) issued 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 trailing twelve-month return on equity of 11.52% and a net margin of 1.79%. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 earnings per share.

Progressive announced a quarterly dividend on Tuesday, August 9th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.10 per share on Friday, October 14th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. 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 declared that its board has approved a share repurchase plan on Wednesday, May 18th 2022, which permits the company to repurchase 25,000,000 shares, according to EventVestor. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually 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 a variety of 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 $127.06.

Progressive (NYSE:PGR) has a market capitalization of $74.32 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.