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Progressive (PGR) Stock Forecast & Price Target

Progressive logo
$256.98 +2.48 (+0.97%)
(As of 11/20/2024 ET)

Progressive - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Sell
0
Hold
5
Buy
13

Based on 18 Wall Street analysts who have issued ratings for Progressive in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 18 analysts, 5 have given a hold rating, 12 have given a buy rating, and 1 has given a strong buy rating for PGR.

Consensus Price Target

$269.81
4.99% Upside
According to the 18 analysts' twelve-month price targets for Progressive, the average price target is $269.81. The highest price target for PGR is $335.00, while the lowest price target for PGR is $218.00. The average price target represents a forecasted upside of 4.99% from the current price of $256.99.
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PGR Analyst Ratings Over Time

TypeCurrent Forecast
11/22/23 to 11/21/24
1 Month Ago
10/23/23 to 10/22/24
3 Months Ago
8/24/23 to 8/23/24
1 Year Ago
11/22/22 to 11/22/23
Strong Buy
1 Strong Buy rating(s)
1 Strong Buy rating(s)
1 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
12 Buy rating(s)
12 Buy rating(s)
12 Buy rating(s)
9 Buy rating(s)
Hold
5 Hold rating(s)
6 Hold rating(s)
5 Hold rating(s)
7 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
Consensus Price Target$269.81$268.81$234.41$161.47
Forecasted Upside4.99% Upside8.28% Upside-2.83% Downside-0.70% Downside
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Hold

PGR Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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PGR Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Progressive Stock vs. The Competition

TypeProgressiveFinance CompaniesS&P 500
Consensus Rating Score
2.78
2.49
2.50
Consensus RatingModerate BuyHoldModerate Buy
Predicted Upside4.99% Upside12.87% Upside9.83% Upside
News Sentiment Rating
Positive News

See Recent PGR News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
11/18/2024Bank of America
4 of 5 stars
 Boost TargetBuy ➝ Buy$331.00 ➝ $335.00+30.63%
11/8/2024TD Cowen
4 of 5 stars
 Boost TargetHold ➝ Hold$197.00 ➝ $237.00-9.48%
11/6/2024Evercore ISI
2 of 5 stars
 Boost TargetOutperform ➝ Outperform$277.00 ➝ $285.00+12.02%
10/23/2024Barclays
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A. Scott
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Boost TargetEqual Weight ➝ Equal Weight$267.00 ➝ $277.00+11.58%
10/18/2024Morgan Stanley
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 Boost TargetOverweight ➝ Overweight$300.00 ➝ $310.00+22.75%
10/16/2024Keefe, Bruyette & Woods
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M. Shields
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Boost TargetOutperform ➝ Outperform$280.00 ➝ $290.00+15.26%
10/10/2024JPMorgan Chase & Co.
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 Boost TargetOverweight ➝ Overweight$242.00 ➝ $251.00-0.18%
10/9/2024Jefferies Financial Group
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 Boost TargetBuy ➝ Buy$257.00 ➝ $295.00+17.08%
9/18/2024The Goldman Sachs Group
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R. Cox
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Boost TargetBuy ➝ Buy$262.00 ➝ $280.00+8.99%
9/16/2024Roth Mkm
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 Boost TargetBuy ➝ Buy$270.00 ➝ $290.00+13.73%
9/10/2024Wells Fargo & Company
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 Boost TargetOverweight ➝ Overweight$281.00 ➝ $282.00+12.06%
8/15/2024Piper Sandler
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 Boost TargetOverweight ➝ Overweight$250.00 ➝ $252.00+7.64%
8/12/2024Hsbc Global Res
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V. Gandhi
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UpgradeHold ➝ Strong-Buy
8/12/2024HSBC
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 UpgradeHold ➝ Buy$253.00+14.10%
8/7/2024BMO Capital Markets
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 Lower TargetOutperform ➝ Outperform$239.00 ➝ $237.00+8.72%
7/17/2024Citigroup
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 Lower TargetNeutral ➝ Neutral$232.00 ➝ $225.00+1.65%
4/17/2024UBS Group
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 Boost TargetNeutral ➝ Neutral$216.00 ➝ $218.00+4.61%
12/12/2023Raymond James
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 DowngradeOutperform ➝ Market Perform
11/16/2023Oppenheimer
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 Initiated CoverageMarket Perform
4/14/2023Credit Suisse Group
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 Reiterated RatingNeutral$143.00+4.09%
2/15/2023Roth Capital
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H. Fong
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Reiterated RatingBuy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 09:10 AM ET.


Should I Buy Progressive Stock? PGR Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, November 3, 2024. Please send any questions or comments about these Progressive pros and cons to contact@marketbeat.com.

Progressive
Bull Case

green Wall Street bull icon

Here are some ways that investors could benefit from investing in The Progressive Co.:

  • The Progressive Co. has consistently shown strong financial performance, with analysts anticipating earnings per share of 12.7 for the current year, indicating a stable and profitable business.
  • Institutional investors and hedge funds own a significant portion (85.34%) of The Progressive Co.'s stock, reflecting confidence from large financial entities in the company's growth potential.
  • Recent price target updates from analysts have been positive, with several firms raising their price objectives for The Progressive Co., suggesting a bullish sentiment in the market.
  • The company pays a quarterly dividend, with a dividend yield of 0.16% and a low dividend payout ratio (DPR) of 4.09%, providing investors with a steady income stream.
  • The Progressive Co.'s CEO maintains a substantial ownership stake in the company, with 517,105 shares valued at approximately $110,665,641.05, aligning their interests with shareholders.

Progressive
Bear Case

red Wall Street bear icon

Investors should be bearish about investing in The Progressive Co. for these reasons:

  • Insiders have been selling company stock, with a total of 146,512 shares sold in the last ninety days, valued at $33,912,874, potentially signaling a lack of confidence from internal stakeholders.
  • The ownership percentage of insiders in The Progressive Co. is relatively low at 0.34%, indicating limited insider alignment with the company's performance and future prospects.
  • While analysts have set positive price targets, there is always a risk of market volatility and unforeseen events impacting the stock price of The Progressive Co., leading to potential investment losses.
  • Investors should consider the competitive landscape in the insurance industry, as The Progressive Co. faces competition from other major players that could affect its market position and profitability.
  • Market conditions and regulatory changes in the insurance sector can impact The Progressive Co.'s operations and financial results, requiring investors to stay informed and vigilant about external factors affecting the company.

PGR Forecast - Frequently Asked Questions

According to the research reports of 18 Wall Street equities research analysts, the average twelve-month stock price forecast for Progressive is $269.81, with a high forecast of $335.00 and a low forecast of $218.00.

18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progressive in the last twelve months. There are currently 5 hold ratings, 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PGR shares.

According to analysts, Progressive's stock has a predicted upside of 4.99% based on their 12-month stock forecasts.

Analysts like Progressive more than other "finance" companies. The consensus rating for Progressive is Moderate Buy while the average consensus rating for "finance" companies is Hold. Learn more on how PGR compares to other companies.


This page (NYSE:PGR) was last updated on 11/21/2024 by MarketBeat.com Staff
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