Progressive (NYSE:PGR) Given New $308.00 Price Target at Bank of America

Progressive (NYSE:PGR) had its price objective trimmed by Bank of America from $315.00 to $308.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

PGR has been the topic of several other research reports. Morgan Stanley dropped their target price on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 28th. Roth Mkm set a $235.00 price target on shares of Progressive in a research report on Thursday, February 19th. Jefferies Financial Group set a $216.00 price target on shares of Progressive in a research note on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating and set a $259.00 price objective on shares of Progressive in a research note on Monday, March 2nd. Finally, Citigroup reduced their target price on Progressive from $300.60 to $261.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $243.28.

Progressive Price Performance

Progressive stock opened at $206.90 on Tuesday. The stock has a market capitalization of $121.23 billion, a P/E ratio of 10.75, a P/E/G ratio of 9.00 and a beta of 0.33. The company’s fifty day moving average price is $208.09 and its 200 day moving average price is $223.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. Progressive has a 1 year low of $197.92 and a 1 year high of $292.99.

Progressive Announces Dividend

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

Insider Buying and Selling

In other Progressive news, insider Karen Bailo sold 3,517 shares of the firm’s 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 sale, the insider owned 32,348 shares of the company’s stock, valued at $6,857,776. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Jonathan S. Bauer sold 3,105 shares of Progressive stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the sale, the executive owned 26,249 shares in the company, valued at $5,363,983.15. This represents a 10.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,761 shares of company stock valued at $2,659,420 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Progressive

Several institutional investors and hedge funds have recently bought and sold shares of PGR. Brighton Jones LLC lifted its position in Progressive by 15.6% in the fourth quarter. Brighton Jones LLC now owns 3,392 shares of the insurance provider’s stock valued at $813,000 after buying an additional 457 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Progressive during the fourth quarter valued at about $269,000. Bison Wealth LLC raised its stake in shares of Progressive by 3.2% in the 4th quarter. Bison Wealth LLC now owns 2,568 shares of the insurance provider’s stock valued at $615,000 after acquiring an additional 80 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of Progressive in the 2nd quarter worth approximately $33,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of Progressive by 17.9% in the 2nd quarter. Wedbush Securities Inc. now owns 3,735 shares of the insurance provider’s stock worth $997,000 after acquiring an additional 566 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: Analyst / dividend bullishness — A Seeking Alpha piece highlights PGR as a high-conviction, dividend-friendly insurance pick, citing Progressive’s data-driven underwriting, market-share gains and attractive total yield — a constructive narrative for long-term investors. Seeking Alpha: Heads, I Win – Tails, I Don’t Lose
• Neutral Sentiment: Bank of America lowered its price target from $315 to $308 but kept a “buy” rating — still signaling conviction but trimming upside expectations vs. prior targets. This is supportive but slightly less bullish than before. Benzinga: BofA price target update
• Neutral Sentiment: Quarterly dividend declared — Progressive announced a $0.10 quarterly common-share dividend (payable Apr. 10; record Apr. 2). The yield is small (~0.2%), so it’s a modest income signal rather than a major catalyst. GlobeNewswire: Dividend Announcement
• Neutral Sentiment: Unrelated company news — Progressive Planet Solutions (TSE: PLAN) unveiled low‑carbon cement and R&D expansion. This concerns a different firm (PLAN) and is not material to PGR’s insurance fundamentals. TipRanks: Progressive Planet product release
• Negative Sentiment: Insider selling — Two execs disclosed sales: CFO/CAO Carl Joyce sold 141 shares and senior executive Karen Bailo sold 3,517 shares (both at ~$212), reducing their stakes. Insider dispositions can create short-term selling pressure or signal profit-taking. SEC Form 4 (Carl Joyce) SEC Form 4 (Karen Bailo)
• Negative Sentiment: Recent price weakness — Coverage notes and market commentary flagged a recent intraday dip (PGR down vs. market gains), underscoring near-term volatility as analysts refine views. Zacks: Stock Dips While Market Gains

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.