Unveiling 13 Analyst Insights On Progressive

Progressive Corporation -1.07% Post

Progressive Corporation





0.00% Post

In the last three months, 13 analysts have published ratings on Progressive (NYSE:PGR), offering a diverse range of perspectives from bullish to bearish.

In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.

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

Analysts have set 12-month price targets for Progressive, revealing an average target of $204.38, a high estimate of $261.00, and a low estimate of $170.00. This upward trend is evident, with the current average reflecting a 9.34% increase from the previous average price target of $186.92.

price target chart

Deciphering Analyst Ratings: An In-Depth Analysis

A clear picture of Progressive's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
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
Bob Huang Morgan Stanley Raises Overweight $227.00 $185.00
Joshua Shanker B of A Securities Raises Buy $261.00 $256.00
Meyer Shields Keefe, Bruyette & Woods Raises Market Perform $175.00 $158.00
Harry Fong Roth MKM Raises Buy $200.00 $185.00
Michael Zaremski BMO Capital Raises Outperform $200.00 $185.00
Paul Newsome Piper Sandler Raises Overweight $207.00 $188.00
Brian Meredith UBS Raises Neutral $170.00 $159.00
Andrew Kligerman TD Cowen Announces Market Perform $174.00 -

Key Insights:

  • Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Progressive. This insight gives a snapshot of analysts' perspectives on the current state of the company.
  • Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.
  • Price Targets: Delving into movements, analysts provide estimates for the future value of Progressive's stock. This analysis reveals shifts in analysts' expectations over time.

Capture valuable insights into Progressive's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.

Stay up to date on Progressive analyst ratings.

Get to Know Progressive Better

Progressive underwrites private and commercial auto insurance and specialty lines; it has about 18 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 U.S. 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.

Unraveling the Financial Story of Progressive

Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.

Positive Revenue Trend: Examining Progressive's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 25.41% as of 31 December, 2023, showcasing a substantial increase in 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 falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 11.71%, the company may face hurdles in effective cost management.

Return on Equity (ROE): Progressive's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 10.78% ROE, the company effectively utilizes shareholder equity capital.

Return on Assets (ROA): Progressive's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.27% ROA, the company effectively utilizes its assets for optimal returns.

Debt Management: Progressive's debt-to-equity ratio surpasses industry norms, standing at 0.35. This suggests the company carries a substantial amount of debt, posing potential financial challenges.

Understanding the Relevance of Analyst Ratings

Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.

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

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