Progressive (PGR) Stock Forecast & Price Target

$262.87 -3.19 (-1.20%)

(As of 02:39 PM 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

Moderate Buy

Based on 18 Analyst Ratings

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
2.64% 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 2.64% from the current price of $262.87.

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PGR Analyst Ratings Over Time

Type	Current Forecast 11/26/23 to 11/25/24	1 Month Ago 10/27/23 to 10/26/24	3 Months Ago 8/28/23 to 8/27/24	1 Year Ago 11/26/22 to 11/26/23
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	$263.19	$234.41	$161.47
Forecasted Upside	2.64% Upside	7.96% Upside	-4.54% Downside	-1.38% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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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.

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.

Progressive Stock vs. The Competition

Type	Progressive	Finance Companies	S&P 500
Consensus Rating Score	2.78	2.49	2.50
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	2.75% Upside	8.26% Upside	6.16% Upside
News Sentiment Rating	Positive News See Recent PGR News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/18/2024	Bank of America 4 of 5 stars		Boost Target	Buy ➝ Buy	$331.00 ➝ $335.00	+30.63%
11/8/2024	TD Cowen 4 of 5 stars		Boost Target	Hold ➝ Hold	$197.00 ➝ $237.00	-9.48%
11/6/2024	Evercore ISI 2 of 5 stars		Boost Target	Outperform ➝ Outperform	$277.00 ➝ $285.00	+12.02%
10/23/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Scott Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Equal Weight ➝ Equal Weight	$267.00 ➝ $277.00	+11.58%
10/18/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$300.00 ➝ $310.00	+22.75%
10/16/2024	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Shields Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$280.00 ➝ $290.00	+15.26%
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10/10/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$242.00 ➝ $251.00	-0.18%
10/9/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$257.00 ➝ $295.00	+17.08%
9/18/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Cox Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$262.00 ➝ $280.00	+8.99%
9/16/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$270.00 ➝ $290.00	+13.73%
9/10/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$281.00 ➝ $282.00	+12.06%
8/15/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$250.00 ➝ $252.00	+7.64%
8/12/2024	Hsbc Global Res Subscribe to MarketBeat All Access for the recommendation accuracy rating	V. Gandhi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
8/12/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$253.00	+14.10%
8/7/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$239.00 ➝ $237.00	+8.72%
7/17/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$232.00 ➝ $225.00	+1.65%
4/17/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$216.00 ➝ $218.00	+4.61%
12/12/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform
11/16/2023	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform
4/14/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral	$143.00	+4.09%
2/15/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	H. Fong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 02:55 PM 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 Thursday, November 21, 2024. Please send any questions or comments about these Progressive pros and cons to contact@marketbeat.com.

Progressive
Bull Case

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

The Progressive Co. recently reported a strong quarterly earnings per share (EPS) of $3.58, exceeding analysts' expectations of $3.40. This indicates robust financial performance and effective management, which can lead to increased investor confidence.
The stock price has shown positive momentum, recently trading at $262.90, reflecting a 2.3% increase. A rising stock price can signal strong market demand and investor interest, making it an attractive option for potential investors.
The company has a solid market capitalization of approximately $154.01 billion, which suggests stability and the ability to invest in growth opportunities. A larger market cap often indicates a well-established company with a strong market presence.
The Progressive Co. has a favorable price-to-earnings (P/E) ratio of 18.68, which is relatively low compared to industry averages. A lower P/E ratio can indicate that the stock is undervalued, presenting a potential buying opportunity for investors.
With a return on equity of 33.10%, The Progressive Co. demonstrates effective use of shareholder equity to generate profits. High return on equity is often a sign of a well-managed company, which can attract long-term investors.

Progressive
Bear Case

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

Insider selling has been significant, with recent transactions showing that insiders sold 59,209 shares worth nearly $15 million over the last three months. High levels of insider selling can raise concerns about the company's future prospects and may indicate a lack of confidence from those closest to the company.
The company has a relatively low insider ownership of only 0.34%. Low insider ownership can suggest that management may not be as aligned with shareholder interests, which could be a red flag for potential investors.
The current ratio and quick ratio are both at 0.30, indicating potential liquidity issues. A ratio below 1 suggests that the company may struggle to meet its short-term obligations, which can be a concern for investors looking for financial stability.
Despite recent positive earnings, the overall market conditions can be volatile, and the insurance sector is often influenced by economic downturns. Investors should be cautious as external factors can impact profitability.
The stock has a beta of 0.36, indicating lower volatility compared to the market. While this can be seen as a safety feature, it may also limit potential gains during bullish market conditions, making it less attractive for aggressive investors.

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 equities research 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 equities research analysts is that investors should "moderate buy" PGR shares.
: According to analysts, Progressive's stock has a predicted upside of 2.64% based on their 12-month stock forecasts.
: Progressive has been rated by research analysts at Bank of America, Barclays, Evercore ISI, Jefferies Financial Group, JPMorgan Chase & Co., Keefe, Bruyette & Woods, Morgan Stanley, Roth Mkm, TD Cowen, The Goldman Sachs Group, and Wells Fargo & Company in the past 90 days.
: 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.

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This page (NYSE:PGR) was last updated on 11/25/2024 by MarketBeat.com Staff

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Progressive (PGR) Stock Forecast & Price Target