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Throughout the last three months, 20 analysts have evaluated Progressive (NYSE: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%.
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 |
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.
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.
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.
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.
Posted In: PGR