Progressive (PGR) Stock Price, News & Analysis

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last year. There are currently 1 sell rating, 8 hold ratings and 8 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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17 analysts have issued 12 month price targets for Progressive's stock. Their PGR share price targets range from $112.00 to $264.00. On average, they expect the company's share price to reach $208.31 in the next year. This suggests a possible upside of 0.8% from the stock's current price.
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Progressive's stock was trading at $159.28 on January 1st, 2024. Since then, PGR stock has increased by 29.7% and is now trading at $206.59.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 11th 2024.
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The Progressive Co. (NYSE:PGR) announced its quarterly earnings results on Friday, April, 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.20 by $0.74. The insurance provider earned $18.96 billion during the quarter, compared to analysts' expectations of $16.88 billion. Progressive had a net margin of 8.89% and a trailing twelve-month return on equity of 29.43%. The company's revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 EPS.

Progressive announced a quarterly dividend on Friday, March 1st. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.10 per share on Friday, April 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Wednesday, April 3rd.
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 0.20%. The dividend payout ratio is 4.09%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PGR will have a dividend payout ratio of 3.49% next year. This indicates that the company will be able to sustain or increase its dividend.
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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), Principal Focused Blue Chip ETF (BCHP), AXS Brendan Wood TopGun Index ETF (TGN), Invesco S&P 500 Minimum Variance ETF (SPMV), Democratic Large Cap Core ETF (DEMZ) and iShares U.S. Financials ETF (IYF).

Progressive announced that its board has initiated a share buyback plan on Wednesday, May 18th 2022, which authorizes the company to repurchase 25,000,000 outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors 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's stock is owned by many different institutional and retail investors. Top institutional shareholders include Confluence Investment Management LLC (0.16%), Los Angeles Capital Management LLC (0.15%), Bonness Enterprises Inc. (0.10%), Perpetual Ltd (0.09%), Daymark Wealth Partners LLC (0.03%) and Rowlandmiller & PARTNERS.ADV (0.02%). Insiders that own company stock include Andrew J Quigg, Barbara R Snyder, 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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