ProgressivePGR
Market Cap: 126B
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 Q1 SEC filings by fund managers ($100M+ AUM)
130% more first-time investments, than exits
New positions opened: 209 | Existing positions closed: 91
53% more funds holding in top 10
Funds holding in top 10: 43 [Q4 2023] → 66 (+23) [Q1 2024]
51% more call options, than puts
Call options by funds: $611M | Put options by funds: $406M
28% more capital invested
Capital invested by funds: $79.7B [Q4 2023] → $102B (+$22B) [Q1 2024]
9% more funds holding
Funds holding: 1,299 [Q4 2023] → 1,417 (+118) [Q1 2024]
6% more repeat investments, than reductions
Existing positions increased: 532 | Existing positions reduced: 502
1.43% less ownership
Funds ownership: 85.48% [Q4 2023] → 84.05% (-1.43%) [Q1 2024]
Research analyst outlook
35 Wall Street Analysts provided 1 year price forecasts over the past 6 months
35 analyst ratings
B of A Securities Joshua Shanker | 37%upside $296 | Buy Maintained | 18 Jul 2024 |
BMO Capital Michael Zaremski | 11%upside $239 | Outperform Maintained | 18 Jul 2024 |
Citigroup Michael Ward | 4%upside $225 | Neutral Maintained | 17 Jul 2024 |
Jefferies Yaron Kinar | 19%upside $257 | Buy Maintained | 17 Jul 2024 |
Roth MKM Harry Fong | 9%upside $235 | Buy Maintained | 17 Jul 2024 |
Financial journalist opinion
Based on 23 articles about PGR published over the past 30 days