ProgressivePGR
Market Cap: $146B
About: 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.
Employees: 61,400
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
55% more first-time investments, than exits
New positions opened: 153 | Existing positions closed: 99
29% more call options, than puts
Call options by funds: $542M | Put options by funds: $420M
21% more repeat investments, than reductions
Existing positions increased: 613 | Existing positions reduced: 507
4% more funds holding
Funds holding: 1,431 [Q1] → 1,485 (+54) [Q2]
0% less capital invested
Capital invested by funds: $103B [Q1] → $103B (-$395M) [Q2]
0.72% less ownership
Funds ownership: 85.47% [Q1] → 84.74% (-0.72%) [Q2]
5% less funds holding in top 10
Funds holding in top 10: 66 [Q1] → 63 (-3) [Q2]
Research analyst outlook
25 Wall Street Analysts provided 1 year price targets over the past 3 months
25 analyst ratings
Barclays Alex Scott 89% 1-year accuracy 33 / 37 met price target | 48%upside $367 | Equal-Weight Initiated | 4 Sept 2024 |
B of A Securities Joshua Shanker 56% 1-year accuracy 20 / 36 met price target | 25%upside $312 | Buy Maintained | 3 Sept 2024 |
Keefe, Bruyette & Woods Meyer Shields 79% 1-year accuracy 62 / 78 met price target | 11%upside $275 | Outperform Maintained | 3 Sept 2024 |
B of A Securities Joshua Shanker 56% 1-year accuracy 20 / 36 met price target | 18%upside $294 | Buy Maintained | 15 Aug 2024 |
Roth MKM Harry Fong 96% 1-year accuracy 22 / 23 met price target | 9%upside $270 | Buy Maintained | 15 Aug 2024 |
Financial journalist opinion
Based on 27 articles about PGR published over the past 30 days