Progressive (NYSE:PGR – Get Free Report) had its target price decreased by equities researchers at Mizuho from $235.00 to $223.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price objective suggests a potential upside of 8.29% from the stock’s previous close.
Several other research analysts also recently issued reports on PGR. Keefe, Bruyette & Woods lowered their price objective on shares of Progressive from $232.00 to $227.00 and set a “market perform” rating on the stock in a research report on Thursday. Roth Mkm set a $235.00 target price on shares of Progressive in a report on Thursday, February 19th. Wells Fargo & Company raised their price target on Progressive from $214.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday. Zacks Research upgraded Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Evercore reaffirmed a “negative” rating on shares of Progressive in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $239.72.
Read Our Latest Stock Analysis on PGR
Progressive Stock Performance
Insider Activity
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 stock was sold at an average price of $212.00, for a total transaction of $745,604.00. Following the transaction, the insider owned 32,348 shares in the company, valued at approximately $6,857,776. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Carl G. Joyce sold 141 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $212.00, for a total value of $29,892.00. Following the transaction, the chief accounting officer directly owned 828 shares of the company’s stock, valued at approximately $175,536. This trade represents a 14.55% decrease in their ownership of the stock. 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 ninety days. 0.34% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of PGR. Davis Capital Management purchased a new stake in shares of Progressive during the 3rd quarter worth $25,000. Bard Associates Inc. acquired a new position in shares of Progressive during the 4th quarter worth $27,000. Dagco Inc. purchased a new position in shares of Progressive in the 4th quarter valued at about $28,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Progressive in the fourth quarter valued at about $29,000. Finally, Ameriflex Group Inc. lifted its stake in shares of Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.
Progressive News Summary
Here are the key news stories impacting Progressive this week:
- Positive Sentiment: Bank of America kept a “buy” rating and, despite trimming its target slightly to $305, still implies substantial upside — a supporting factor for the stock. Progressive had its price target lowered by Bank of America Corporation from $308.00 to $305.00
- Positive Sentiment: Wells Fargo raised its target to $217 and maintained an “equal weight” view, a modest positive signal that offsets some downgrades. Wells Fargo raised its price target on Progressive
- Neutral Sentiment: Progressive is getting increased attention from retail and news platforms; Zacks flagged PGR as a “trending” stock, which can drive short-term volume and volatility but doesn’t change fundamentals. The Progressive Corporation (PGR) Is a Trending Stock
- Neutral Sentiment: Recent media noted intraday moves in PGR (short-term price swings); useful for traders but not necessarily indicative of a lasting trend. Progressive (PGR) stock moves -1.29%: What you should know
- Negative Sentiment: Mizuho cut its target to $223 and moved to “neutral,” trimming upside expectations and applying downward pressure. Progressive had its price target lowered by Mizuho from $235.00 to $223.00
- Negative Sentiment: Barclays downgraded PGR from “strong-buy” to “hold,” reducing buy-side conviction and potentially limiting near-term gains. Progressive was downgraded by Barclays PLC from “strong-buy” to “hold”
- Negative Sentiment: Keefe, Bruyette & Woods trimmed its target to $227 and set a “market perform” rating, another modest drag on sentiment. Progressive had its price target lowered by Keefe, Bruyette & Woods
- Neutral Sentiment: An unrelated biotech update (Zenas BioPharma) appeared in the feed but has no material bearing on Progressive’s insurance business. Zenas BioPharma Advances Phase 3 Orelabrutinib Trial
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.
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