The Analyst Verdict: Progressive In The Eyes Of 20 Experts


Throughout the last three months, 20 analysts have evaluated Progressive PGR, offering a diverse set of opinions from bullish to bearish.

The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 5 8 7 0 0
Last 30D 0 1 0 0 0
1M Ago 1 2 0 0 0
2M Ago 2 3 2 0 0
3M Ago 2 2 5 0 0

Analysts have set 12-month price targets for Progressive, revealing an average target of $233.5, a high estimate of $286.00, and a low estimate of $190.00. Surpassing the previous average price target of $221.63, the current average has increased by 5.36%.

Breaking Down Analyst Ratings: A Detailed Examination

The analysis of recent analyst actions sheds light on the perception of Progressive by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
Bob Huang Morgan Stanley Lowers Overweight $255.00 $256.00
Elyse Greenspan Wells Fargo Lowers Overweight $243.00 $244.00
Joshua Shanker B of A Securities Raises Buy $286.00 $279.00
Michael Zaremski BMO Capital Raises Outperform $235.00 $234.00
Brian Meredith UBS Raises Neutral $218.00 $216.00
Joshua Shanker B of A Securities Lowers Buy $273.00 $279.00
Michael Ward Citigroup Raises Neutral $225.00 $202.00
Bob Huang Morgan Stanley Raises Overweight $256.00 $247.00
Yaron Kinar Jefferies Raises Buy $245.00 $241.00
Elyse Greenspan Wells Fargo Raises Overweight $238.00 $232.00
Bob Huang Morgan Stanley Raises Overweight $247.00 $228.00
Meyer Shields Keefe, Bruyette & Woods Raises Market Perform $200.00 $190.00
Jimmy Bhullar JP Morgan Raises Overweight $202.00 $171.00
Joshua Shanker B of A Securities Lowers Buy $264.00 $265.00
Paul Newsome Piper Sandler Maintains Overweight $240.00 -
Vikram Gandhi HSBC Raises Hold $200.00 $174.00
Alex Scott Goldman Sachs Raises Neutral $216.00 $161.00
Meyer Shields Keefe, Bruyette & Woods Raises Market Perform $190.00 $185.00
Harry Fong Roth MKM Raises Buy $235.00 $215.00
Michael Ward Citigroup Raises Neutral $202.00 $192.00

Key Insights:

  • Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information offers a snapshot of how analysts perceive the current state of the company.
  • Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Progressive compared to the broader market.
  • Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Progressive's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.

For valuable insights into Progressive's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.

Stay up to date on Progressive analyst ratings.

Discovering Progressive: A Closer Look

Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

Progressive: A Financial Overview

Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.

Revenue Growth: Progressive's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 20.56%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Financials sector.

Net Margin: Progressive's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 13.43%, the company may encounter challenges in effective cost control.

Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 11.13%, the company showcases effective utilization of equity capital.

Return on Assets (ROA): Progressive's ROA excels beyond industry benchmarks, reaching 2.53%. This signifies efficient management of assets and strong financial health.

Debt Management: Progressive's debt-to-equity ratio stands notably higher than the industry average, reaching 0.32. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.

Understanding the Relevance of Analyst Ratings

Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.

In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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