DOWLING & PARTN Expects Stronger Earnings for Progressive

The Progressive Corporation (NYSE:PGR) – Investment analysts at DOWLING & PARTN upped their FY2026 earnings per share estimates for shares of Progressive in a research report issued to clients and investors on Thursday, June 18th. DOWLING & PARTN analyst D. Lukpanov now forecasts that the insurance provider will post earnings of $17.75 per share for the year, up from their prior forecast of $16.50. The consensus estimate for Progressive’s current full-year earnings is $16.82 per share.

Progressive (NYSE:PGR) last released its earnings results on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.13. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.Progressive’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.37 earnings per share.

PGR has been the subject of a number of other research reports. Barclays set a $247.00 price objective on Progressive in a research note on Wednesday, March 18th. BMO Capital Markets reiterated a “market perform” rating and set a $220.00 target price on shares of Progressive in a research note on Wednesday, May 20th. Mizuho cut their price target on shares of Progressive from $235.00 to $223.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Zacks Research upgraded shares of Progressive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, UBS Group raised their price objective on shares of Progressive from $218.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $237.58.

Progressive Stock Performance

Shares of Progressive stock opened at $215.90 on Wednesday. The business’s fifty day simple moving average is $200.60 and its 200 day simple moving average is $206.86. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. Progressive has a 12 month low of $189.20 and a 12 month high of $267.92. The firm has a market capitalization of $126.16 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 6.39 and a beta of 0.28.

Institutional Investors Weigh In On Progressive

Several institutional investors have recently added to or reduced their stakes in PGR. Klingman & Associates LLC raised its holdings in Progressive by 1.7% during the 4th quarter. Klingman & Associates LLC now owns 2,927 shares of the insurance provider’s stock worth $667,000 after buying an additional 48 shares during the period. Revisor Wealth Management LLC lifted its stake in Progressive by 2.7% in the fourth quarter. Revisor Wealth Management LLC now owns 1,902 shares of the insurance provider’s stock valued at $395,000 after buying an additional 50 shares in the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of Progressive by 0.7% in the fourth quarter. Cullen Investment Group LTD. now owns 7,463 shares of the insurance provider’s stock valued at $1,606,000 after buying an additional 52 shares during the period. Pines Wealth Management LLC boosted its holdings in shares of Progressive by 3.9% in the fourth quarter. Pines Wealth Management LLC now owns 1,399 shares of the insurance provider’s stock valued at $319,000 after buying an additional 52 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Progressive by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 18,736 shares of the insurance provider’s stock worth $4,267,000 after acquiring an additional 52 shares in the last quarter. 85.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 1,157 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $204.76, for a total transaction of $236,907.32. Following the completion of the transaction, the insider owned 27,511 shares in the company, valued at approximately $5,633,152.36. This represents a 4.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of Progressive stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $200.00, for a total value of $1,183,200.00. Following the completion of the sale, the insider directly owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This trade represents a 12.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 8,230 shares of company stock worth $1,651,507. Corporate insiders own 0.32% of the company’s stock.

Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Thursday, July 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, July 2nd. Progressive’s dividend payout ratio (DPR) is currently 2.03%.

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.