Progressive (PGR)

• Market cap: $161B
• 1 day: -0.02%
• 5 days: -5.68%
• 1 month: -3.27%
• 3 months: 10.66%
• 6 months: 7.19%
• Year to date: 10.13%
• 1 year: 23.83%
• 5 years: 224.75%
• 10 years: 888.55%
• Sector: Financials
• Industry: Property & Casualty Insurance

About: Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 24 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: 66,300

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

117% more first-time investments, than exits

New positions opened: 239 | Existing positions closed: 110

14% more call options, than puts

Call options by funds: $574M | Put options by funds: $504M

13% more repeat investments, than reductions

Existing positions increased: 674 | Existing positions reduced: 594

6% more funds holding

Funds holding: 1,632 [Q3] → 1,728 (+96) [Q4]

2.4% more ownership

Funds ownership: 83.31% [Q3] → 85.71% (+2.4%) [Q4]

3% less capital invested

Capital invested by funds: $124B [Q3] → $120B (-$3.36B) [Q4]

11% less funds holding in top 10

Funds holding in top 10: 79 [Q3] → 70 (-9) [Q4]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $285 8% upside
• Avg. target: $301 13% upside
• High target: $324 22% upside

10 analyst ratings

• positive: 6 60%
• neutral: 4 40%
• negative: 0 0%

Wells Fargo Elyse Greenspan 50% 1-year accuracy 58 / 116 met price target	22% upside $324	Overweight Maintained	17 Apr 2025
BMO Capital Michael Zaremski 75% 1-year accuracy 18 / 24 met price target	9% upside $288	Outperform Maintained	17 Apr 2025
Keefe, Bruyette & Woods Meyer Shields 71% 1-year accuracy 80 / 113 met price target	9% upside $288	Market Perform Downgraded	17 Apr 2025
B of A Securities Joshua Shanker 52% 1-year accuracy 26 / 50 met price target	12% upside $297	Neutral Maintained	17 Apr 2025
Barclays Alex Scott 39% 1-year accuracy 37 / 94 met price target	12% upside $297	Equal-Weight Maintained	11 Apr 2025