Wells Fargo & Company Cuts Progressive (NYSE:PGR) Price Target to $220.00

Progressive (NYSE:PGR) had its target price cut by Wells Fargo & Company from $240.00 to $220.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other brokerages also recently commented on PGR. JPMorgan Chase & Co. reduced their target price on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Zacks Research lowered Progressive from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Raymond James Financial reduced their price target on shares of Progressive from $305.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Hsbc Global Res cut Progressive from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, The Goldman Sachs Group set a $227.00 target price on shares of Progressive in a research note on Wednesday, January 7th. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $255.68.

Progressive Stock Down 0.2%

NYSE:PGR opened at $207.74 on Thursday. The company has a 50-day moving average of $219.58 and a 200 day moving average of $230.82. Progressive has a 1-year low of $198.50 and a 1-year high of $292.99. The firm has a market cap of $121.82 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.28 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Friday, January 2nd were given a dividend of $0.10 per share. The ex-dividend date was Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio (DPR) is presently 2.08%.

Insider Buying and Selling

In other news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $228.29, for a total transaction 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. The trade was a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 5,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $228.48, for a total transaction of $1,142,400.00. Following the completion of the transaction, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. The trade was a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,788 shares of company stock worth $3,018,961 in the last quarter. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Progressive

A number of institutional investors and hedge funds have recently made changes to their positions in PGR. LRI Investments LLC raised its position in Progressive by 13.4% in the second quarter. LRI Investments LLC now owns 338 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 40 shares during the period. CVA Family Office LLC raised its holdings in Progressive by 4.2% in the second quarter. CVA Family Office LLC now owns 1,053 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 42 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Progressive by 20.8% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 44 shares in the last quarter. Maia Wealth LLC raised its stake in Progressive by 5.4% in the second quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock valued at $229,000 after buying an additional 44 shares in the last quarter. Finally, Trail Ridge Investment Advisors LLC raised its position in shares of Progressive by 1.6% during the 2nd quarter. Trail Ridge Investment Advisors LLC now owns 2,906 shares of the insurance provider’s stock worth $775,000 after acquiring an additional 45 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Progressive News Summary

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.