Progressive (NYSE:PGR) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Progressive (NYSE:PGR) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Bank of America cut their price objective on Progressive from $350.00 to $348.00 and set a “buy” rating on the stock in a research report on Tuesday, December 9th. Keefe, Bruyette & Woods raised their price target on Progressive from $250.00 to $252.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. BMO Capital Markets cut their price target on shares of Progressive from $253.00 to $239.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Mizuho set a $240.00 price objective on shares of Progressive in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company dropped their target price on shares of Progressive from $242.00 to $240.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. Seven analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $259.39.

Progressive Price Performance

PGR stock opened at $212.94 on Monday. The stock has a market capitalization of $124.87 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.27 and a beta of 0.34. The firm’s 50-day moving average price is $220.33 and its two-hundred day moving average price is $231.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.19. Progressive has a 12-month low of $198.50 and a 12-month high of $292.99.

Progressive Dividend Announcement

The firm also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, January 2nd. Progressive’s dividend payout ratio (DPR) is 2.19%.

Insider Buying and Selling at Progressive

In related news, CFO John P. Sauerland sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $228.48, for a total value of $1,142,400.00. Following the sale, the chief financial officer owned 223,024 shares in the company, valued at $50,956,523.52. This represents a 2.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew J. Quigg sold 1,649 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $336,973.15. Following the transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,788 shares of company stock worth $3,018,961 in the last ninety days. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Progressive

A number of institutional investors have recently modified their holdings of the stock. Davis Capital Management bought a new position in Progressive in the 3rd quarter worth about $25,000. Dagco Inc. purchased a new position in Progressive in the fourth quarter worth about $28,000. 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 worth $31,000 after buying an additional 65 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Progressive during the second quarter valued at approximately $33,000. Finally, Westside Investment Management Inc. increased its position in shares of Progressive by 900.0% during the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Q4 results beat expectations: Progressive reported stronger-than-expected quarterly earnings and revenue, driven by higher premiums and improved underwriting performance (reported combined ratio ~87%), supporting margin resilience. Progressive (PGR) Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Analyst upgrade: A recent analysis upgraded PGR to “Buy,” citing de‑risked valuation (~12x earnings), disciplined underwriting, and a favorable outlook on margins despite slower premium growth. Progressive: Margin Fears Are Overdone (Upgrade)
• Neutral Sentiment: CFO succession announced: Longtime CFO John Sauerland will retire July 3, 2026; Chief Strategy Officer Andrew Quigg is named successor and will work with Sauerland for a staged handover — the plan signals internal continuity but still introduces leadership change. Progressive Announces Plans For CFO Transition
• Negative Sentiment: Conflicting analyst view: Zacks issued a downgrade to “strong sell” earlier, creating some opposing short‑term pressure and mixed analyst signals for investors to weigh. Zacks downgrade / TickerReport
• Negative Sentiment: Notable insider selling highlighted in third‑party trackers may concern some investors, though the company attributes the CFO change to retirement and has an internal successor lined up. The Progressive Corporation Announces Retirement of CFO John Sauerland, Successor Named

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.