Progressive (NYSE:PGR) Upgraded to Hold at Zacks Research

Progressive (NYSE:PGR) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on PGR. Keefe, Bruyette & Woods upped their target price on Progressive from $225.00 to $232.00 and gave the stock a “market perform” rating in a research note on Thursday, February 19th. BMO Capital Markets cut their price objective on Progressive from $239.00 to $232.00 and set a “market perform” rating for the company in a report on Thursday, January 29th. Citigroup lowered their target price on shares of Progressive from $300.60 to $261.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Evercore set a $230.00 target price on shares of Progressive in a research report on Thursday, February 19th. Finally, Morgan Stanley decreased their price target on shares of Progressive from $214.00 to $205.00 and set an “underweight” rating on the stock in a report on Wednesday, January 28th. Six analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $244.71.

Progressive Stock Down 0.8%

PGR opened at $204.35 on Tuesday. The firm has a market capitalization of $119.83 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 8.99 and a beta of 0.32. Progressive has a one year low of $197.92 and a one year high of $292.99. The company has a fifty day moving average price of $211.04 and a 200-day moving average price of $225.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.38 and a quick ratio of 0.29.

Insiders Place Their Bets

In other Progressive news, CIO Jonathan S. Bauer sold 3,105 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The stock was sold at an average price of $204.35, for a total value of $634,506.75. Following the completion of the sale, the executive owned 26,249 shares in the company, valued at approximately $5,363,983.15. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maribel Pumarejo sold 739 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $203.25, for a total value of $150,201.75. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,103 shares of company stock worth $3,026,324. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progressive

Several hedge funds and other institutional investors have recently modified their holdings of PGR. Norges Bank purchased a new position in Progressive during the 2nd quarter valued at about $2,156,939,000. Capital International Investors grew its position in shares of Progressive by 78.9% in the 3rd quarter. Capital International Investors now owns 13,704,197 shares of the insurance provider’s stock worth $3,384,082,000 after buying an additional 6,045,732 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Progressive by 181.8% in the 4th quarter. Wellington Management Group LLP now owns 6,506,302 shares of the insurance provider’s stock worth $1,481,615,000 after buying an additional 4,197,212 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Progressive by 32.8% during the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock valued at $2,928,141,000 after buying an additional 2,709,417 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Progressive by 26.1% during the third quarter. Capital Research Global Investors now owns 11,167,940 shares of the insurance provider’s stock valued at $2,757,905,000 after acquiring an additional 2,314,864 shares in the last quarter. 85.34% of the stock is owned by institutional investors.

Key Headlines Impacting Progressive

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive will host an Investor Relations event on March 3 (45-minute presentation on capital & investments, followed by Q&A with the CEO and CFO); Progressive will file its Form 10‑K on March 2 — a near-term transparency event that could reset expectations. Progressive Announces Investor Relations Event
• Neutral Sentiment: Industry/valuation narrative is shifting as analysts recalibrate fair value for PGR; coverage remains mixed (some trims to targets, some buys) — this is creating divergent guidance for the stock rather than a unanimous directional signal. How The Progressive (PGR) Narrative Is Shifting
• Negative Sentiment: BofA cut its price target on PGR to $315 from $329 (but kept a Buy rating) — a downgrade to the target reduces upside expectations and may weigh on sentiment. BofA Lowers its Price Target on The Progressive Corporation (PGR)
• Negative Sentiment: Insider selling: CIO Jonathan Bauer sold 2,266 shares (~$460k) on Feb. 23 and insider Maribel Pumarejo sold 739 shares (~$150k) on Feb. 24 — continued executive sales can pressure the stock and signal liquidity-taking by insiders. Progressive (NYSE:PGR) CIO Sells $460,111.30 in Stock
• Negative Sentiment: Institutional reshuffling: recent large reductions (e.g., UBS AM and FMR trimming Q4 positions) indicate some major holders are cutting exposure — this can amplify downside pressure until fresh buying appears. The Progressive Corporation to Host Investor Relations Event on March 3, 2026

Progressive Company Profile

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.