BMO Capital Markets Issues Pessimistic Forecast for Progressive (NYSE:PGR) Stock Price

Progressive (NYSE:PGR) had its price objective cut by equities researchers at BMO Capital Markets from $232.00 to $208.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 1.42% from the company’s previous close.

Other research analysts have also issued reports about the stock. Barclays upgraded shares of Progressive from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $257.00 to $265.00 in a report on Thursday, January 8th. Wells Fargo & Company reduced their price target on shares of Progressive from $220.00 to $214.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Evercore set a $230.00 price target on shares of Progressive in a research note on Thursday, February 19th. Jefferies Financial Group set a $216.00 price objective on shares of Progressive in a report on Wednesday, February 11th. Finally, UBS Group cut their price objective on Progressive from $226.00 to $218.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $241.94.

Progressive Price Performance

Shares of Progressive stock opened at $205.10 on Wednesday. The business has a 50 day moving average of $207.10 and a 200 day moving average of $222.91. Progressive has a 52 week low of $197.92 and a 52 week high of $292.99. The company has a market cap of $120.17 billion, a PE ratio of 10.66, a P/E/G ratio of 8.75 and a beta of 0.33. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling

In other Progressive news, insider Steven Broz sold 1,344 shares of Progressive stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $224.80, for a total value of $302,131.20. Following the completion of the transaction, the insider directly owned 26,354 shares of the company’s stock, valued at approximately $5,924,379.20. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew J. Quigg sold 1,649 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total transaction of $336,973.15. Following the completion of the transaction, the insider owned 39,626 shares in the company, valued at approximately $8,097,573.10. This represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,761 shares of company stock worth $2,659,420 over the last quarter. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Progressive

A number of hedge funds have recently added to or reduced their stakes in PGR. Bell Investment Advisors Inc increased 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 worth $68,000 after purchasing an additional 44 shares in the last quarter. Maia Wealth LLC lifted its holdings in shares of Progressive by 5.4% during the second quarter. Maia Wealth LLC now owns 857 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 44 shares in the last quarter. Selective Wealth Management Inc. boosted its position in shares of Progressive by 2.1% during the third quarter. Selective Wealth Management Inc. now owns 2,207 shares of the insurance provider’s stock valued at $538,000 after buying an additional 45 shares during the last quarter. Liberty One Investment Management LLC boosted its position in shares of Progressive by 3.8% during the third quarter. Liberty One Investment Management LLC now owns 1,291 shares of the insurance provider’s stock valued at $319,000 after buying an additional 47 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in Progressive by 20.8% in the 3rd quarter. True Wealth Design LLC now owns 279 shares of the insurance provider’s stock worth $69,000 after buying an additional 48 shares in the last quarter. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Goldman Sachs and others highlight PGR as an attractive, defensive insurance holding given strong 2025 results and tech-driven market share gains; Goldman reaffirmed a Buy and a $225 target — a vote of confidence for longer-term investors. Goldman Sachs Names PGR
• Positive Sentiment: MarketBeat and sector write-ups list Progressive among three insurers that can provide stability in volatile markets due to steady premium flows, underwriting discipline and higher investment income — supportive context for investors favoring defensive exposure. 3 Insurers to Bring Stability
• Neutral Sentiment: Analyst and equity research pieces note “moderating growth but intact fundamentals” for Progressive — suggests near-term growth pressures but that core profitability and underwriting metrics remain solid. Moderating Growth But Intact Fundamentals
• Neutral Sentiment: Two entries concern Progressive Planet Solutions (TSE:PLAN) reporting record Q3 revenue and one‑time charges to fund growth — this is a different company and unlikely to directly affect PGR’s fundamentals or stock, but it may cause headline noise for investors scanning “Progressive” news. Progressive Planet Posts Record Q3 Revenue Progressive Planet Q3 Results
• Negative Sentiment: BMO Capital Markets cut its price target for PGR to $208 and moved to Market Perform, signaling reduced near-term upside expectations and likely contributing to selling pressure among tactical investors. BMO Price Target Cut
• Negative Sentiment: Bank of America published a pessimistic forecast for PGR’s stock outlook, adding to downward pressure from cautious sell‑side sentiment. Bank of America Issues Pessimistic Forecast
• Negative Sentiment: Progressive CFO John Sauerland announced retirement after a 35‑year tenure — a material leadership change that may create short-term uncertainty about financial stewardship and succession, though management has a long track record at the company. CFO Retirement

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.