NYSE:PGRProgressive Stock Price, Forecast & News

$75.74

+1.61 (+2.17 %)

(As of 05/27/2020 10:13 AM ET)

Add

Compare

Today's Range

$74.07

Now: $75.74▼

$76.27

50-Day Range

$72.19

MA: $77.77▼

$82.96

52-Week Range

$62.18

Now: $75.74▼

$84.96

Volume462,586 shs

Average Volume3.27 million shs

Market Capitalization$44.33 billion

P/E Ratio12.50

Dividend Yield0.54%

Beta0.52

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, and snowmobiles. The company's Commercial Lines segment provides primary liability, physical damage, and other auto-related insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and non-fleet long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; tow trucks and wreckers used in towing services and gas/service station businesses; and non-fleet taxis, black-car services, and airport taxis. Its Property segment provides residential property insurance for homes, condos, manufactured homes, and renters, as well as offers personal umbrella insurance, and primary and excess flood insurance. The company also offers policy issuance and claims adjusting services; home, condominium, renters, and other insurance; and general liability and business owner's policies, and workers' compensation insurance. In addition, it offers reinsurance services. The Progressive Corporation sells its products and services through independent insurance agencies, as well as directly on Internet, and mobile devices, and over the phone. The company was founded in 1937 and is headquartered in Mayfield Village, Ohio.

Beat the Market (BTM) Rank^™

3.3 Analyst's Opinion

Consensus Rating
Progressive has received a consensus rating of Buy. The company's average rating score is 2.64, and is based on 7 buy ratings, 6 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $83.60, Progressive has a potential upside of 10.4% from its current price of $75.74.
Amount of Analyst Coverage
Progressive has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.0 Community Rank

Outperform Votes
Progressive has received 487 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Progressive has received 731 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Progressive has received 60.02% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Progressive and other stocks. Vote “Outperform” if you believe PGR will outperform the S&P 500 over the long term. Vote “Underperform” if you believe PGR will underperform the S&P 500 over the long term. You may vote once every thirty days.

3.3 Dividend Strength

Dividend Leadership
Progressive is a leading dividend payer. It pays a dividend yield of 0.54%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Progressive has only been increasing its dividend for 2 years.
Dividend Coverage
The dividend payout ratio of Progressive is 5.95 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Progressive will have a dividend payout ratio of 7.34 % next year. This indicates that Progressive will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Progressive insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $5,315,306.00 in company stock.
Percentage Held by Insiders
Only 0.38% of the stock of Progressive is held by insiders.
Percentage Held by Institutions
80.02% of the stock of Progressive is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3 Earnings and Valuation

Earnings Growth
Earnings for Progressive are expected to decrease by -11.09% in the coming year, from $6.13 to $5.45 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Progressive is 12.50, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 14.54.
Price to Earnings Ratio vs. Sector
The P/E ratio of Progressive is 12.50, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 18.29.
Price to Earnings Growth Ratio
Progressive has a PEG Ratio of 2.03. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Progressive has a P/B Ratio of 3.20. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.18 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NYSE

Industry Fire, marine, & casualty insurance

Sub-IndustryProperty & Casualty Insurance

SectorFinance

Current SymbolNYSE:PGR

Previous Symbol

CUSIP74331510

CIK80661

Webwww.progressive.com

Phone440-461-5000

Debt

Debt-to-Equity Ratio0.39

Current Ratio0.39

Quick Ratio0.39

Price-To-Earnings

Trailing P/E Ratio12.50

Forward P/E Ratio12.36

P/E Growth2.03

Sales & Book Value

Annual Sales$39.02 billion

Price / Sales1.14

Cash Flow$7.43 per share

Price / Cash Flow10.20

Book Value$23.68 per share

Price / Book3.20

Profitability

EPS (Most Recent Fiscal Year)$6.72

Net Income$3.97 billion

Net Margins9.18%

Return on Equity26.80%

Return on Assets6.62%

Miscellaneous

Employees41,571

Outstanding Shares585,300,000

Market Cap$44.33 billion

Next Earnings Date7/15/2020 (Estimated)

OptionableOptionable

Receive PGR News and Ratings via Email

Sign-up to receive the latest news and ratings for PGR and its competitors with MarketBeat's FREE daily newsletter.

Progressive (NYSE:PGR) Frequently Asked Questions

How has Progressive's stock been impacted by COVID-19 (Coronavirus)?

Progressive's stock was trading at $75.11 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, PGR shares have increased by 0.8% and is now trading at $75.74. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Progressive?

14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last year. There are currently 6 hold ratings, 7 buy ratings and 1 strong buy rating for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Progressive.

When is Progressive's next earnings date?

Progressive is scheduled to release its next quarterly earnings announcement on Wednesday, July 15th 2020. View our earnings forecast for Progressive.

How were Progressive's earnings last quarter?

Progressive Corp (NYSE:PGR) issued its earnings results on Wednesday, April, 15th. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.45 by $0.66. The insurance provider earned $9.87 billion during the quarter, compared to the consensus estimate of $10.28 billion. Progressive had a return on equity of 26.80% and a net margin of 9.18%. The business's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $1.83 earnings per share. View Progressive's earnings history.

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

Progressive declared a quarterly dividend on Friday, May 8th. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.10 per share on Wednesday, July 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, July 6th. View Progressive's dividend history.

What price target have analysts set for PGR?

14 brokers have issued 12-month target prices for Progressive's shares. Their forecasts range from $59.00 to $95.00. On average, they expect Progressive's share price to reach $83.60 in the next year. This suggests a possible upside of 10.4% from the stock's current price. View analysts' price targets for Progressive.

What are Wall Street analysts saying about Progressive stock?

Here are some recent quotes from research analysts about Progressive stock:

1. Wells Fargo & Co analysts commented, "We are increasing our 2019 EPS estimate to $5.50 from $5.45 to reflect the earnings beat, partially offset by lower premium growth. We are lowering our 2020 EPS estimate to $5.70 from $5.75 and we are maintaining our 2021 EPS estimate of $6.10. Our price target is unchanged at $81. The shares traded down today likely as the slowdown in premium written more than overshadowed the EPS beat." (8/15/2019)
2. According to Zacks Investment Research, "Shares of Progressive have outperformed the industry year to date. Focus to become a one-stop insurance destination catering to customers opting for a combination of home and auto insurance bodes well for long-term growth. Leadership in product, service and distribution innovation, especially in personal auto bodes well for long term growth. Policies in force and retention ratio will continue to remain healthy. The company’s Snapshot, Robinson and Home Quote Explorer programs should continue to drive its business. It focuses on paying back its shareholders via dividends as well as share repurchases. However, the company’s growth could be challenged by intense competition. Exposure to catastrophe events induces volatility to its underwriting results while escalating expenses weighing on margin expansion remain headwinds." (5/27/2019)

Has Progressive been receiving favorable news coverage?

Media coverage about PGR stock has been trending somewhat negative on Wednesday, according to InfoTrie Sentiment Analysis. The research group rates the sentiment of media coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Progressive earned a news sentiment score of -1.0 on InfoTrie's scale. They also assigned news headlines about the insurance provider a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the stock's share price in the near future. View the latest news aboutProgressive.

Are investors shorting Progressive?

Progressive saw a drop in short interest in the month of April. As of April 15th, there was short interest totaling 4,590,000 shares, a drop of 6.9% from the March 31st total of 4,930,000 shares. Based on an average daily trading volume, of 3,960,000 shares, the short-interest ratio is presently 1.2 days. Approximately 0.8% of the shares of the stock are short sold. View Progressive's Current Options Chain.

Who are some of Progressive's key competitors?

Some companies that are related to Progressive include Berkshire Hathaway (BRK.B), Allstate (ALL), Travelers Companies (TRV), Markel (MKL), Arch Capital Group (ACGL), W. R. Berkley (WRB), Cincinnati Financial (CINF), Erie Indemnity (ERIE), Cna Financial (CNA), Fidelity National Financial (FNF), First American Financial (FAF), Old Republic International (ORI), Hanover Insurance Group (THG), RLI (RLI) and Axis Capital (AXS). View all competitors.

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), CVS Health (CVS), Walt Disney (DIS), Home Depot (HD), Mastercard (MA), NVIDIA (NVDA), Paypal (PYPL), AT&T (T), UnitedHealth Group (UNH) and Alibaba Group (BABA).

Who are Progressive's key executives?

Progressive's management team includes the following people:

Ms. Susan Patricia Griffith, Pres, CEO & Director (Age 55)
Mr. John Peter Sauerland, VP & CFO (Age 55)
Mr. William M. Cody, Chief Investment Officer (Age 57)
Mr. M. Jeffrey Charney, Chief Marketing Officer (Age 60)
Mr. John Andrew Barbagallo, Pres of Commercial Lines (Age 60)

What is Progressive's stock symbol?

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

Who are Progressive's major shareholders?

Progressive's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.23%), Wellington Management Group LLP (6.62%), State Street Corp (4.34%), JPMorgan Chase & Co. (3.13%), Alliancebernstein L.P. (1.95%) and Geode Capital Management LLC (1.79%). Company insiders that own Progressive stock include Andrew J Quigg, Barbara R Snyder, Dyke Kahina Van, John A Barbagallo, John Jo Murphy, John P Sauerland, M Jeffrey Charney, Michael D Sieger, Steven Broz, Susan Patricia Griffith and William M Cody. View institutional ownership trends for Progressive.

Which institutional investors are selling Progressive stock?

PGR stock was sold by a variety of institutional investors in the last quarter, including Ceredex Value Advisors LLC, Janus Henderson Group PLC, Two Sigma Advisers LP, Morgan Stanley, Morgan Stanley, AQR Capital Management LLC, PNC Financial Services Group Inc., and Eaton Vance Management. Company insiders that have sold Progressive company stock in the last year include Andrew J Quigg, John Jo Murphy, John P Sauerland, M Jeffrey Charney, Michael D Sieger, Steven Broz, and Susan Patricia Griffith. View insider buying and selling activity for Progressive.

Which institutional investors are buying Progressive stock?

PGR stock was purchased by a variety of institutional investors in the last quarter, including Wellington Management Group LLP, Invesco Ltd., Capital World Investors, Viking Global Investors LP, APG Asset Management N.V., Rockefeller Capital Management L.P., Scharf Investments LLC, and Alliancebernstein L.P.. View insider buying and selling activity for Progressive.

How do I buy shares of Progressive?

Shares of PGR can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

What is Progressive's stock price today?

One share of PGR stock can currently be purchased for approximately $75.74.

How big of a company is Progressive?

Progressive has a market capitalization of $44.33 billion and generates $39.02 billion in revenue each year. The insurance provider earns $3.97 billion in net income (profit) each year or $6.72 on an earnings per share basis. Progressive employs 41,571 workers across the globe.

What is Progressive's official website?

The official website for Progressive is www.progressive.com.

How can I contact Progressive?

Progressive's mailing address is 6300 Wilson Mills Road, Mayfield Village OH, 44143. The insurance provider can be reached via phone at 440-461-5000.

This page was last updated on 5/27/2020 by MarketBeat.com Staff