Wire
Evercore ISI Adjusts Progressive Price Target to $230 From $240
Evercore ISI Adjusts Progressive Price Target to $230 From $240
$PGR
$PGR
39 stories mentioning PGRUpdated 20d ago
Every FINWIRES story that references PGR, newest first.
What are analysts saying about PGR?
Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.
- Keefe Bruyette & WoodsUpgradedOutperformPrice target$250from $226
- Goldman SachsTarget revisedBuyPrice target$233from $230
- MizuhoTarget revisedPrice target$236from $243
- Morgan StanleyUpgradedEqualweightPrice target$210from $190
- Goldman SachsTarget revisedBuyPrice target$225from $239
- Evercore ISITarget revisedPrice target$230from $240
What's the latest news on PGR?
Wire
Progressive Shares Fall After JPMorgan Downgrade
Progressive (PGR) shares fell 3.2% in Tuesday trading after JPMorgan downgraded the stock to neutral from overweight.Intraday trading topped 1.5 million shares, compared with the daily average of almost 3.16 million.Price: $227.06, Change: $-7.42, Percent Change: -3.16%
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Research
JPMorgan Downgrades Progressive to Neutral From Overweight, Price Target is $250
Progressive (PGR) has an average rating of hold and mean price target of $238.05, according to analysts polled by FactSet.
$PGR
Wire
Personal Line Carriers Expected to Post Strong Underwriting in 2026, Morgan Stanley Says
Personal line carriers such as Progressive (PGR) and Travelers (TRV) are positioned to report strong, underwriting in 2026 and portions of 2027, before a more meaningful loss ratio deterioration in 2028, Morgan Stanley said in a Wednesday note.Favorable trends from tort reforms and slower physical damage growth are expected to continue through 2026 and 2027 after supporting 2024 and 2025 personal auto insurance losses, the investment firm said.The insurance companies expected to benefit include Allstate (ALL), Hartford Insurance Group (HIG) and Hanover Insurance (THG), according to the note.Inflation and lower pricing should also drive losses for personal auto insurance and extend profitability, the brokerage added. Loss deterioration, however, is likely to be moderate amid better management of social inflation and as earned pricing takes time, Morgan Stanley noted.Morgan Stanley raised its price targets on Travelers to $333 from $330 and to $225 from $220 for Hanover Insurance, with an equal-weight rating for both.Price: $236.34, Change: $+1.94, Percent Change: +0.83%
$ALL$HIG$PGR$THG$TRV
Wire
Progressive Underwriting Margins Normalizing More Quickly Than Consensus, UBS Says
Progressive's (PGR) underwriting margins are normalizing more quickly than consensus amid a competitive pricing environment, mid-single-digit severity and potential normalization of claims frequency, UBS said in a note emailed Tuesday.UBS said that it continues to expect pressure on loss ratios stemming from increasing claims frequency as the pricing cycle returns to usual, noting that sharper pricing drives policyholders to become more willing to file claims.Underwriting margins benefit from the usual claims activity, driven by moderate pricing, according to the note.With app downloads pointing to moderating growth in policies in force, or PIF, for June and Q2, UBS said it expects Agency PIF growth of 7.4% with Direct at 10.6% in Q2 compared with 16.3% and 21.2%, respectively, for the same period last year.UBS raised its price target to $230 from $220 and maintained its neutral rating.Price: $220.34, Change: $+0.48, Percent Change: +0.22%
$PGR
Research
Wells Fargo Downgrades Progressive to Underweight From Equalweight, Adjusts PT to $205 From $219
Progressive (PGR) has an average rating of hold and mean price target of $232.86, according to analysts polled by FactSet.
$PGR
Insider Trading
Progressive Insider Sold Shares Worth $1,514,321, According to a Recent SEC Filing
Jeffrey D Kelly, Director, on June 24, 2026, sold 7,000 shares in Progressive (PGR) for $1,514,321. Following the Form 4 filing with the SEC, Kelly has control over a total of 22,546 common shares of the company, with 22,546 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/80661/000008066126000214/xslF345X05/form4.xmlPrice: $217.86, Change: $-2.64, Percent Change: -1.20%
$PGR
Wire
Goldman Sachs Adjusts Progressive Price Target to $219 From $214, Maintains Buy Rating
Progressive (PGR) has an average rating of overweight and mean price target of $234.14, according to analysts polled by FactSet.Price: $202.42, Change: $-2.00, Percent Change: -0.98%
$PGR
Sectors
Sector Update: Financial Stocks Decline Premarket Wednesday
Financial stocks were declining premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.1% lower.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% higher.Progressive (PGR) stock was up more than 1% after the company reported net income for May of $2.47 per share, up from $1.81 a year earlier.HSBC Holdings (HSBC) announced a multi-year partnership with Google Cloud aimed at expanding the bank's artificial intelligence capabilities, Reuters reported. HSBC Holdings shares were up more than 1% premarket.KKR (KKR) said it is making a $1.4 billion equity commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. KKR stock was down nearly 1% pre-bell.
$FAS$FAZ$HSBC$KKR$PGR$XLF
Sectors
Sector Update: Financial
Financial stocks were declining premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.1% lower.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.4% higher.Progressive (PGR) stock was up more than 2% after the company reported net income for May of $2.47 per share, up from $1.81 a year earlier.
$PGR
Insider Trading
Progressive Insider Sold Shares Worth $1,183,200, According to a Recent SEC Filing
John Jo Murphy, Claims President, on June 05, 2026, sold 5,916 shares in Progressive (PGR) for $1,183,200. Following the Form 4 filing with the SEC, Murphy has control over a total of 56,465 common shares of the company, with 41,290 shares held directly and 15,175 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/80661/000008066126000208/xslF345X05/form4.xmlPrice: $201.56, Change: $-2.47, Percent Change: -1.21%
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Wire
BMO Capital Adjusts PT on Progressive to $220 From $221, Maintains Market Perform Rating
Progressive (PGR) has an average rating of overweight and mean price target of $234.14, according to analysts polled by FactSet.Price: $202.49, Change: $-0.38, Percent Change: -0.19%
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Research
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Progressive Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We trim our 12-month target price by $10 to $235, valuing PGR shares at 12x our 2027 EPS estimate of $18.85 and at 13x our 2026 EPS estimate of $17.58 (raised today by $0.13), vs. the one-year average forward multiple of 15x and a peer average of 12x. We lower our 2026 operating revenue estimate to a rise of 9%-12% (from our previous estimate of a 12%-15% rise) amid our view that a more competitive pricing environment will reduce top-line growth, though PGR will likely continue to grow faster than peer averages. We now see earned premium growth of 8%-12% (down from 10%-15%), net investment income growth of 8%-10% (10%), and 12%-15% higher fee revenues (15%-18%). This compares to the broader property-casualty industry, which is likely to produce earned premium growth of around 4%-8% in 2026. Currently trading at 11.5x our 2026 EPs estimate, a discount to peer and historical averages, we view the shares as undervalued and see above-peer growth as a catalyst.
$PGR
Research
Research Alert: Pgr Q1 Eps Tops Expectations Despite Challenging Market Conditions
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Progressive posted Q1 operating EPS of $4.96 vs. $4.65 in the prior year, topping our $4.83 estimate and $4.88 consensus, despite earned premium growth of 8% falling short of our 10%-15% forecast. Full-year 2025 earned premiums rose 15%, in line with our forecast, while Q1 written premiums increased 6% with policies-in-force up 9%, indicating growth from exposure rather than pricing. We think PGR's ability to produce above-peer top-line growth and best-in-class underwriting profitability provides the shares with a catalyst. Management offered no commentary as the firm does not hold regular calls. We forecast 8%-12% earned premium growth in 2026, remaining above most peers despite the competitive pricing environment. The Q1 combined ratio of 86.4% vs. 86.0% in the prior year demonstrates continued superior underwriting results vs. industry averages. We keep our Buy rating, as we believe the defensive nature of personal lines insurance and PGR's operational excellence support valuation despite pricing headwinds.
$PGR
Asia Markets
US Equity Futures Flat Pre-Bell as Traders Remain Optimistic About Potential US-Iran Deal
US equity futures were mostly unchanged pre-bell Wednesday as traders continue to be optimistic on the possibility of a US-Iran agreement being finalized soon.Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were flat, while Nasdaq futures were down 0.1%.Negotiations between the US and Iran could resume as early as this week, with the New York Post quoting President Donald Trump as saying it could happen "over the next two days."Traders digested earnings from Bank of America (BAC) and Morgan Stanley (MS), which posted higher Q1 earnings and revenue. Progressive (PGR) also reported higher Q1 net income and net premiums earned.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $95.39 per barrel and US West Texas Intermediate crude 0.4% higher at $91.64 per barrel.The April Empire State manufacturing index, released at 8:30 am ET, came in at 11.0, up from negative 0.2 in March and above estimates compiled by Bloomberg for a reading of 0.0.The March import price index, released at 8:30 am ET, showed a 0.8% month-over-month increase, falling short of estimates compiled by Bloomberg for a 2.3% gain. Export prices increased 1.6%, slightly higher than expectations for a 1.5% gain.The April US housing market index, slated for 10 am ET, is seen coming in at 37 versus 38 previously.In other world markets, Japan's Nikkei closed 0.4% higher, Hong Kong's Hang Seng ended 0.3% higher, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was also 0.1% higher in Europe's early afternoon session.In equities, Bank of America shares were up 1.6%, while Morgan Stanley stock was 2.8% higher. Snap (SNAP) shares were up 7.6% after the company said it planned to cut around 16% of its global workforce, or roughly 1,000 employees.On the losing side, Terawulf (WULF) shares were down 4.7% after the company said late Tuesday that it priced a public offering of 47.4 million shares at $19 each for gross proceeds of about $900 million. BRP (DOO) stock was 26% lower after the company overnight said it suspended its fiscal 2027 guidance following a recent amendment to US rules for tariffs on steel, aluminum, and copper imports.
Dow JonesNasdaq CompositeS&P 500$BAC$DOO$MS$PGR$SNAP$WULF
Japan
US Equity Futures Flat Pre-Bell as Traders Remain Optimistic About Potential US-Iran Deal
US equity futures were mostly unchanged pre-bell Wednesday as traders continue to be optimistic about the possibility of a US-Iran agreement.Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were all flat.Negotiations between the US and Iran could resume as early as this week, with the New York Post quoting President Donald Trump as saying it could happen "over the next two days."Traders digested earnings from Bank of America (BAC) and Morgan Stanley (MS), which posted higher Q1 earnings and revenue. Progressive Corp. (PGR) is also expected to report earnings pre-bell.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.8% at $95.56 per barrel and US West Texas Intermediate crude 0.6% higher at $91.87 per barrel.The April Empire State manufacturing index, scheduled for release at 8:30 am ET, is seen coming in at zero versus negative 0.2 previously, according to estimates compiled by Bloomberg.The March import price index, scheduled for release at 8:30 am ET, is expected to show a 2.3% month-over-month increase after a 1.3% gain previously. The export price index is also projected to rise 1.5% to match the previous month's gain.The April US housing market index, slated for 10 am ET, is seen coming in at 37 versus 38 previously.
Dow JonesNasdaq CompositeS&P 500$BAC$MS$PGR
US Markets
Stocks Down Pre-Bell as Traders Monitor Developments on US-Iran Peace Talks
The main US stock measures were pointing lower in Wednesday's premarket activity as traders monitor updates on the potential revival of peace talks between the US and Iran and await more bank earnings.The S&P 500, the Dow Jones Industrial Average and the Nasdaq declined 0.2% each before the opening bell. The indexes finished Tuesday trading higher, with the Nasdaq extending its winning streak to a tenth consecutive session.President Donald Trump told the New York Post on Tuesday that additional negotiations with Iran over a peace deal "could be happening over next two days" in Pakistan. A second round of talks between Washington and Tehran is currently under discussion, although nothing has been officially scheduled yet, CNBC reported Tuesday, citing a White House official.In a Fox Business interview, Trump said he views the Iran war as "very close to over."Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.West Texas Intermediate crude oil inclined 1.8% to $92.96 a barrel in premarket action, while Brent rose 2.2% to $90.13.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.Treasury Secretary Scott Bessent reportedly said at an event on Tuesday that the Trump administration's tariffs may be restored by July to the levels in place before the Supreme Court invalidated them in February.Treasury yields were moving upwards before the open, with the two-year rate gaining 0.4 basis points to 3.76% and the 10-year rate adding 0.6 basis points to 4.26%.Bank of America (BAC), Morgan Stanley (MS), Progressive (PGR), PNC Financial Services (PNC), M&T Bank (MTB) and First Horizon (FHN) are all scheduled to post their quarterly earnings before the bell, among others. J.B. Hunt Transport Services (JBHT) releases its results after the markets close.ASML's (ASML) US-listed stock nudged 0.8% lower pre-bell after the Dutch chip equipment maker reported its quarterly results. Broadcom (AVGO) gained 3.1% as the chipmaker expanded its partnership with Meta Platforms (META) to support the technology giant's artificial intelligence compute infrastructure.Government data on Tuesday showed that producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Empire State manufacturing index for April and the import and export prices report for March, both at 8:30 am. The housing market index for this month is out at 10 am, while the EIA domestic petroleum inventories report is due at 10:30 am.The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, posts at 2 pm.Fed Governor Michael Barr is slated to speak at 8:30 am, while Fed Vice Chair for Supervision Michelle Bowman speaks at 1:45 pm.Gold slipped 0.7% to $4,818 per troy ounce, while bitcoin ticked down 0.2% to $74,132.
Dow JonesNasdaq CompositeS&P 500$ASML$AVGO$BAC$FHN$JBHT$META$MS$MTB$PGR$PNC
Wire
US Insurers Seen Posting Light Q1 Catastrophe Losses Amid Pricing, Cost Pressures, BofA Says
US insurers are expected to post relatively light catastrophe losses in Q1, though softer pricing trends and rising costs may weigh on earnings, BofA Securities said in a Tuesday note.Catastrophe losses are projected to remain below historical averages which may provide near-term support for major insurers. Moderating property and casualty premium rate increases and ongoing claims inflation may pressure underwriting margins, according to the firm.The brokerage also flagged rising expense pressures as insurers increase spending on technology, data infrastructure and AI initiatives. These investments support long-term competitiveness but near-term benefits are limited and may add to margin pressure in upcoming results, BofA said.The brokerage expects a mixed Q1 backdrop for US insurers. Supportive catastrophe trends may be offset by slower pricing growth. Ongoing macro pressures and rising cost bases may also weigh across the sector, the note added.BofA also updated select insurer price targets, lowering its target on AIG (AIG) to $79 while maintaining a neutral rating, raising Progressive's (PGR) target to $298 with a buy rating, and cutting Chubb's (CB) target to $271 while keeping an underperform rating.Price: $78.00, Change: $+0.17, Percent Change: +0.22%
$AIG$CB$PGR
Wire
Mizuho Adjusts Price Target on Progressive to $217 From $223, Maintains Neutral Rating
Progressive (PGR) has an average rating of overweight and mean price target of $231.81, according to analysts polled by FactSet.Price: $198.18, Change: $-1.39, Percent Change: -0.70%
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