Progressive (NYSE:PGR) Price Target Lowered to $305.00 at Bank of America

Progressive (NYSE:PGR) had its price objective trimmed by Bank of America from $308.00 to $305.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

PGR has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Progressive in a research note on Monday, December 29th. Evercore restated a “negative” rating on shares of Progressive in a research report on Wednesday. Barclays set a $247.00 price target on shares of Progressive in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Progressive from $303.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Finally, Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $240.67.

Progressive Stock Performance

Shares of NYSE:PGR opened at $202.34 on Thursday. 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 stock has a market capitalization of $118.55 billion, a P/E ratio of 10.52, a P/E/G ratio of 8.76 and a beta of 0.33. The business has a 50-day moving average price of $206.25 and a two-hundred day moving average price of $221.44. Progressive has a 1-year low of $197.92 and a 1-year high of $289.96.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend 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%.

Insiders Place Their Bets

In related news, insider Maribel Pumarejo sold 739 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total transaction of $150,201.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Carl G. Joyce sold 141 shares of Progressive stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $212.00, for a total transaction of $29,892.00. Following the completion of the sale, the chief accounting officer owned 828 shares in the company, valued at $175,536. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,417 shares of company stock valued at $2,357,289 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progressive

Institutional investors have recently added to or reduced their stakes in the company. Stance Capital LLC raised its holdings in shares of Progressive by 11.9% in the 4th quarter. Stance Capital LLC now owns 6,057 shares of the insurance provider’s stock valued at $1,379,000 after purchasing an additional 645 shares during the period. World Investment Advisors raised its stake in Progressive by 11.6% in the fourth quarter. World Investment Advisors now owns 10,609 shares of the insurance provider’s stock valued at $2,416,000 after buying an additional 1,103 shares during the period. Demming Financial Services Corp ADV acquired a new stake in shares of Progressive in the fourth quarter valued at approximately $598,000. Meadowbrook Advisors Group LLC acquired a new stake in Progressive during the 4th quarter valued at $2,403,000. Finally, Larry Mathis Financial Planning LLC acquired a new position in Progressive in the 4th quarter valued at about $500,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

Progressive News Roundup

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

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.