Progressive - PGR Stock Forecast, Price & News

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related primary liability and physical damage insurance, and business-related general liability and property 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 long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses; as well as non-fleet and airport taxis, and black-car services. The Property segment writes residential property insurance for homeowners, other property owners, 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; and acts as an agent to homeowner general liability, workers' compensation insurance, and other products. In addition, it provides reinsurance services. The company sells its products through independent insurance agencies, as well as directly on Internet through mobile devices, and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.

Progressive Stock Performance

Shares of PGR opened at $118.49 on Tuesday. Progressive has a one year low of $89.35 and a one year high of $122.24. The firm has a market capitalization of $69.31 billion, a P/E ratio of 84.64, a PEG ratio of 1.51 and a beta of 0.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day moving average of $115.25 and a 200 day moving average of $112.04.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, July 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $0.40 annualized dividend and a yield of 0.34%. Progressive's payout ratio is 28.57%.

Analysts Set New Price Targets

PGR has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on Progressive from $106.00 to $125.00 and gave the company a "hold" rating in a research report on Tuesday, July 12th. Citigroup assumed coverage on Progressive in a research report on Monday, May 23rd. They issued a "sell" rating and a $93.00 price target for the company. Wells Fargo & Company restated a "sell" rating and set a $98.00 price target on shares of Progressive in a report on Friday, July 15th. Morgan Stanley lifted their target price on shares of Progressive from $115.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Monday, July 18th. Finally, Keefe, Bruyette & Woods raised Progressive from an "underperform" rating to a "market perform" rating and upped their target price for the company from $96.00 to $107.00 in a report on Thursday, June 23rd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $111.93.

Insider Activity at Progressive

In related news, insider Daniel P. Mascaro sold 558 shares of the firm's stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $112.94, for a total transaction of $63,020.52. Following the completion of the sale, the insider now directly owns 38,887 shares of the company's stock, valued at approximately $4,391,897.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.