Keefe, Bruyette & Woods Issues Pessimistic Forecast for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its price target cut by analysts at Keefe, Bruyette & Woods from $252.00 to $225.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 8.31% from the company’s previous close.

Several other research firms have also issued reports on PGR. The Goldman Sachs Group set a $227.00 price target on shares of Progressive in a report on Wednesday, January 7th. Raymond James Financial lowered their price objective on Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Citigroup reduced their target price on Progressive from $301.38 to $300.60 and set a “buy” rating on the stock in a research report on Monday, December 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Progressive in a research note on Wednesday, December 17th. Finally, Zacks Research lowered Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Progressive currently has a consensus rating of “Hold” and an average price target of $255.68.

Progressive Price Performance

Shares of PGR stock opened at $207.74 on Friday. The stock’s 50-day moving average is $219.58 and its 200 day moving average is $230.82. Progressive has a 1-year low of $198.50 and a 1-year high of $292.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29. The company has a market cap of $121.82 billion, a P/E ratio of 10.80, a PEG ratio of 1.28 and a beta of 0.34.

Insider Buying and Selling at Progressive

In related news, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the sale, the insider directly owned 39,626 shares of the company’s stock, valued at $8,097,573.10. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Broz sold 1,345 shares of Progressive stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $228.29, for a total value of $307,050.05. Following the transaction, the insider owned 27,698 shares of the company’s stock, valued at approximately $6,323,176.42. This represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,788 shares of company stock valued at $3,018,961. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Progressive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Progressive during the second quarter valued at $2,156,939,000. Capital International Investors raised its position in shares of Progressive by 78.9% in the third quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after acquiring an additional 6,045,732 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Progressive by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock worth $2,928,141,000 after acquiring an additional 2,709,417 shares in the last quarter. Capital Research Global Investors grew its position in shares of Progressive by 26.1% during the 3rd quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after acquiring an additional 2,314,864 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Progressive by 2,012.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 767,549 shares of the insurance provider’s stock valued at $189,546,000 after purchasing an additional 731,207 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 earnings beat and commentary lifted confidence in near-term earnings momentum — analysts and coverage pieces say the results and management commentary support continued policy growth and profitability, which underpins the bullish investment thesis. How Earnings Beat And CFO Succession At Progressive (PGR) Has Changed Its Investment Story
• Positive Sentiment: Bank of America reiterated a Buy and raised its target to $334, signaling that at least some sell‑side analysts see meaningful upside from current levels based on sustained policy momentum and elevated profitability. Progressive: Sustained Policy Momentum…
• Neutral Sentiment: Progressive confirmed CFO John Sauerland will step down in July 2026; management has flagged a planned succession process — this is notable for governance but appears orderly rather than abrupt. Progressive CFO Sauerland to step down in July 2026
• Neutral Sentiment: Several retail/coverage pieces are highlighting Progressive as a relatively inexpensive or buyable insurance stock given its P/E and recent pullback; these narratives can attract value-oriented buyers but are less likely to move the stock quickly. Is Progressive Corporation (PGR) One of the Best Inexpensive Stocks to Buy Now?
• Neutral Sentiment: Product coverage note — a 2026 review of Progressive’s pet insurance appeared; incremental product expansion can support long-term premium growth but is a low-impact near-term driver. Progressive pet insurance review 2026
• Negative Sentiment: Multiple brokerages trimmed price targets and/or downgraded tone after Q4: Wells Fargo cut its target to $220 (equal weight), Keefe, Bruyette & Woods cut to $225 (market perform), and BMO trimmed its target to $232 — collective downgrades increase selling pressure and suggest some analysts reduced forward estimates. Progressive (NYSE:PGR) Price Target Lowered to $220.00 at Wells Fargo & Company
• Negative Sentiment: Follow-up coverage notes analysts broadly cut forecasts after the Q4 report, reinforcing the nearer-term caution and likely contributing to the downside in sentiment among more value/near‑term focused investors. Progressive Analysts Cut Their Forecasts After Q4 Earnings

Progressive Company Profile

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.