Progressive (NYSE:PGR) Given New $215.00 Price Target at Jefferies Financial Group

Progressive (NYSE:PGR) had its price objective cut by Jefferies Financial Group from $216.00 to $215.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a hold rating on the insurance provider’s stock.

A number of other brokerages also recently weighed in on PGR. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 target price on shares of Progressive in a research note on Monday, February 23rd. BMO Capital Markets cut their price target on shares of Progressive from $232.00 to $208.00 and set a “market perform” rating for the company in a research note on Wednesday, March 11th. Bank of America decreased their price target on shares of Progressive from $308.00 to $305.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Piper Sandler reaffirmed an “overweight” rating and set a $259.00 price objective on shares of Progressive in a report on Monday, March 2nd. Finally, Roth Mkm set a $235.00 target price on shares of Progressive in a research report on Thursday, February 19th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $239.78.

Progressive Stock Performance

NYSE:PGR opened at $206.14 on Tuesday. The stock has a market cap of $120.78 billion, a P/E ratio of 10.71, a PEG ratio of 6.47 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. The business’s 50-day moving average price is $205.86 and its two-hundred day moving average price is $220.23. Progressive has a twelve month low of $197.92 and a twelve month high of $289.96.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Thursday, April 2nd. Progressive’s dividend payout ratio (DPR) is presently 2.08%.

Insider Activity

In related news, insider Andrew J. Quigg sold 1,649 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total transaction of $336,973.15. Following the transaction, the insider owned 39,626 shares of the company’s stock, valued at approximately $8,097,573.10. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen Bailo sold 3,517 shares of Progressive stock in a transaction 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 completion of 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 11,687 shares of company stock valued at $2,413,044. Insiders own 0.33% of the company’s stock.

Institutional Trading of Progressive

Institutional investors have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund increased its position in shares of Progressive by 30.2% in the third quarter. Illinois Municipal Retirement Fund now owns 102,778 shares of the insurance provider’s stock valued at $25,381,000 after acquiring an additional 23,833 shares during the period. Allstate Corp boosted its holdings in shares of Progressive by 1,614.1% during the third quarter. Allstate Corp now owns 21,598 shares of the insurance provider’s stock worth $5,334,000 after purchasing an additional 20,338 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Progressive by 91.7% during the third quarter. Gateway Investment Advisers LLC now owns 11,710 shares of the insurance provider’s stock worth $2,892,000 after purchasing an additional 5,600 shares during the period. Mather Group LLC. grew its stake in shares of Progressive by 40.6% in the third quarter. Mather Group LLC. now owns 16,840 shares of the insurance provider’s stock worth $4,159,000 after purchasing an additional 4,865 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of Progressive by 471.3% in the third quarter. Arkadios Wealth Advisors now owns 22,496 shares of the insurance provider’s stock worth $5,556,000 after purchasing an additional 18,558 shares during 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: Company priced $1.5 billion of senior notes ($500M 4.60% due 2031; $1B 5.15% due 2036) at roughly par, showing continued access to debt markets and boosting liquidity without diluting equity. This supports funding flexibility for general corporate purposes. GlobeNewsWire Release
• Neutral Sentiment: Analysis notes the bond offering “reframes” Progressive’s capital structure — reasonable borrowing costs but likely reduces near-term capacity for share buybacks; investors will weigh improved liquidity vs. modestly higher long‑term leverage. Yahoo: Capital Structure Analysis
• Neutral Sentiment: UBS nudged its price target to $220 but kept a “neutral” rating, signaling caution — this can limit upside momentum even as some firms remain constructive. Benzinga: UBS PT Change
• Negative Sentiment: Bank of America lowered its Progressive price target (citing lower market multiples), and other firms (Mizuho, Jefferies among others) have trimmed targets or issued cautious ratings — these analyst moves can cap near‑term upside and weigh on investor sentiment. BofA PT Cut Mizuho PT Cut Jefferies Note
• Negative Sentiment: Insider selling: CAO Carl G. Joyce sold 270 shares (filed on Form 4). The amount is small, but continued insider sales across multiple executives may be watched by investors as a negative signaling factor. SEC Form 4

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.