Progressive (NYSE:PGR) Price Target Raised to $217.00 at Wells Fargo & Company

Progressive (NYSE:PGR) had its target price upped by Wells Fargo & Company from $214.00 to $217.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Argus raised shares of Progressive to a “hold” rating in a report on Thursday, March 5th. Roth Mkm set a $235.00 price target on Progressive in a research report on Thursday, February 19th. Morgan Stanley decreased their price objective on Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 28th. Mizuho set a $240.00 price objective on Progressive in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Progressive in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $240.67.

Progressive Stock Performance

Shares of PGR stock opened at $202.34 on Thursday. The stock has a market capitalization of $118.55 billion, a P/E ratio of 10.52, a PEG ratio of 8.76 and a beta of 0.33. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $206.25 and its 200 day moving average is $221.44. Progressive has a 12 month low of $197.92 and a 12 month high of $289.96.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Thursday, April 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.08%.

Insider Buying and Selling at Progressive

In other Progressive news, insider Karen Bailo sold 3,517 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total value of $745,604.00. Following the completion of the transaction, the insider owned 32,348 shares of the company’s stock, valued at $6,857,776. The trade was a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Jonathan S. Bauer sold 2,266 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $203.05, for a total transaction of $460,111.30. Following the completion of the transaction, the executive directly owned 26,250 shares in the company, valued at $5,330,062.50. The trade was a 7.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,417 shares of company stock valued at $2,357,289 over the last quarter. Company insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Davis Capital Management bought a new stake in Progressive during the third quarter worth about $25,000. Bard Associates Inc. bought a new position in shares of Progressive during the 4th quarter valued at about $27,000. Dagco Inc. purchased a new position in shares of Progressive during the 4th quarter valued at about $28,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Progressive during the 4th quarter valued at about $29,000. Finally, Ameriflex Group Inc. lifted its position in Progressive by 106.6% in the 3rd quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after buying an additional 65 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Key Stories Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: BofA kept a Buy rating and only trimmed its target slightly (from $308 to $305), leaving a large implied upside versus current levels — supports bullish investor sentiment. Article Title
• Positive Sentiment: Wells Fargo raised its target from $214 to $217 and kept an Equal Weight view, a modest positive signal from another large shop. Article Title TickerReport
• Positive Sentiment: Progressive’s February operating update showed revenue/premium momentum: net premiums written +5% Y/Y, net premiums earned +8%, net income +2%, and policies in force +10% — supportive for top-line growth and pricing power. Investment-related realized losses improved sharply. Company Release
• Neutral Sentiment: Keefe, Bruyette & Woods lowered its target to $227 and moved to Market Perform — a cautious stance but still shows modest upside relative to current prices. Article Title
• Neutral Sentiment: Market commentary and valuation pieces (Yahoo/Seeking Alpha/TipRanks) are prompting reassessments of PGR’s fair value after recent share weakness; these may influence medium-term sentiment but aren’t new company-specific catalysts. Yahoo Article
• Neutral Sentiment: Progressive issued a formal February performance update (company release / TipRanks coverage) — important for transparency but largely reiterative of monthly metrics. TipRanks
• Negative Sentiment: The combined ratio widened to 85.7 from 82.6 Y/Y, indicating underwriting profitability softened — a clear profit-margin headwind for an insurer. Company Release
• Negative Sentiment: Data shows significant insider selling and large institutional shifts (notably UBS removing a large block), which can weigh on sentiment and signal portfolio rebalancing or concern from major holders. QuiverQuant
• Negative Sentiment: Market headlines note intraday stock weakness in some sessions (MSN coverage), reflecting short-term volatility as investors digest the mixed signals. MSN

About Progressive

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.