Brokers Issue Forecasts for Progressive FY2028 Earnings

The Progressive Corporation (NYSE:PGR) – Investment analysts at DOWLING & PARTN issued their FY2028 EPS estimates for Progressive in a research report issued to clients and investors on Friday, July 17th. DOWLING & PARTN analyst D. Lukpanov anticipates that the insurance provider will post earnings per share of $15.88 for the year. The consensus estimate for Progressive’s current full-year earnings is $17.55 per share.

A number of other equities analysts have also recently issued reports on PGR. Wells Fargo & Company cut their price objective on Progressive from $205.00 to $198.00 and set an “underweight” rating for the company in a report on Thursday, July 16th. William Blair reissued a “market perform” rating on shares of Progressive in a report on Wednesday, July 15th. BMO Capital Markets dropped their target price on Progressive from $220.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, July 16th. Evercore set a $240.00 target price on Progressive in a research note on Friday, July 10th. Finally, UBS Group increased their price target on shares of Progressive from $220.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $235.05.

Progressive Price Performance

Shares of NYSE:PGR opened at $204.57 on Wednesday. The company’s fifty day moving average price is $209.39 and its 200-day moving average price is $205.90. The firm has a market capitalization of $119.54 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.77 and a beta of 0.26. Progressive has a one year low of $189.20 and a one year high of $254.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.32 and a quick ratio of 0.27.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Progressive by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 55,261,140 shares of the insurance provider’s stock worth $12,584,067,000 after acquiring an additional 593,612 shares during the last quarter. State Street Corp boosted its holdings in shares of Progressive by 0.3% during the third quarter. State Street Corp now owns 25,808,762 shares of the insurance provider’s stock worth $6,373,474,000 after purchasing an additional 78,374 shares during the period. Capital International Investors boosted its holdings in shares of Progressive by 8.9% during the fourth quarter. Capital International Investors now owns 14,921,724 shares of the insurance provider’s stock worth $3,398,123,000 after purchasing an additional 1,217,527 shares during the period. GQG Partners LLC grew its stake in shares of Progressive by 11.7% in the fourth quarter. GQG Partners LLC now owns 10,432,549 shares of the insurance provider’s stock worth $2,375,706,000 after purchasing an additional 1,092,151 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Progressive in the fourth quarter worth about $1,836,094,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Progressive news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total value of $236,907.32. Following the transaction, the insider directly owned 27,511 shares of the company’s stock, valued at $5,633,152.36. The trade was a 4.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey D. Kelly sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $216.33, for a total value of $1,514,310.00. Following the completion of the sale, the director owned 22,546 shares of the company’s stock, valued at $4,877,376.18. The trade was a 23.69% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 15,230 shares of company stock valued at $3,165,817. Insiders own 0.32% of the company’s stock.

Progressive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Thursday, July 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Progressive’s payout ratio is 2.01%.

More Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to bundle RV insurance solutions with Winnebago’s vehicles, which could strengthen customer acquisition, expand its RV insurance business, and support cross-selling opportunities. Article Title
• Positive Sentiment: The company also secured a jersey sponsorship with Cleveland’s future WNBA team, giving Progressive another brand-visibility win and reinforcing its marketing reach. Article Title
• Neutral Sentiment: Research firm DOWLING & PARTN lowered its FY2028 EPS estimate for Progressive to $15.88, below the current consensus of $17.55, which may reinforce investor caution around future earnings growth. Article Title
• Neutral Sentiment: Some broader market commentary continues to note that Progressive’s EPS growth may not be fully reflected in the share price, suggesting investors still see upside potential but are waiting for more proof. Article Title
• Negative Sentiment: Compared with peers, Travelers’ strong earnings-driven rally may be drawing attention to underwriting execution in the property-casualty sector, which could make investors more selective on Progressive until it shows similarly strong results. Article Title

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.