Keefe, Bruyette & Woods Cuts PGR Price Target to $246
Keefe, Bruyette & Woods maintains its Outperform rating on The Progressive Corporation while adjusting the price target to $246, a 13.10% upside from the current price.
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Keefe, Bruyette & Woods cut its price target on The Progressive Corporation ($PGR) to $246 from $252 on October 15, 2026, and rates the stock "Outperform".
Since the rating, $PGR is up 2.2% to date (from the $213.75 close on Oct 15, 2026).
PGR
The Progressive Corporation
Key Points
- On October 15, 2026, Keefe, Bruyette & Woods reiterated its Outperform rating on The Progressive Corporation (PGR) with a new price target of $246, down from $252.
- Keefe, Bruyette & Woods's $246 price target implies 13.10% upside from The Progressive Corporation's ($PGR) current $217.50 share price.
- The stock recently traded around $217.50, which is about 11.6% below the new target price.
- The Progressive Corporation operates in the insurance sector and reported trailing twelve-month revenue of about $91 billion.
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Keefe, Bruyette & Woods reiterated its Outperform rating on The Progressive Corporation (PGR) on October 15, 2026, adjusting its price target to $246, down from $252. This marks a shift in their outlook as analysts continue to monitor the company’s performance in the insurance sector.
Keefe, Bruyette & Woods vs. the S&P 500
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Other Institutional Activity in The Progressive Corporation
Capital Research Global Investors increased its stake by 3,975,255 shares, bringing its total to 26,549,107 shares valued at approximately $5.8 billion. Meanwhile, State Street Corporation added 657,095 shares, resulting in a total of 26,526,959 shares worth about $5.8 billion. Blackrock Inc. trimmed its holdings by 4,274,846 shares, ending with 48,048,848 shares valued at about $10.5 billion. Vanguard Capital Management LLC slightly raised its position by 49,528 shares, totaling 38,148,192 shares worth around $8.3 billion. Geode Capital Management, LLC also increased its holdings by 752,711 shares, reaching 17,009,978 shares valued at approximately $3.7 billion.
The Progressive Corporation Stock Up 1.8%
The Progressive Corporation's shares are currently trading around $217.50 as of October 16, 2026. This price is about 11.6% below the newly set target of $246. The stock has been fluctuating as analysts adjust their expectations, reflecting ongoing market conditions.
$PGR price target
The Progressive Corporation daily closes and this analyst's $246 target. Not advice.
Recent Earnings
The Progressive Corporation reported trailing twelve-month revenue of approximately $91 billion, with an earnings per share (EPS) of $19.94. The company's revenue growth year-over-year stands at 7.3%, and its net margin is 12.8%. The next earnings report is expected on November 2, 2026.
Insider Buying and Selling at The Progressive Corporation
Several insiders have sold shares recently. Lori A Niederst, an officer, sold 7,339 shares at an average price of $209.29 on August 13, 2026, totaling about $1.54 million. Chief Technology Officer Steven Broz sold 1,225 shares at $219.40 on August 20, 2026, for around $268,765. CEO Susan Patricia Griffith sold 37,338 shares at $219.50 on September 1, 2026, valued at about $8.2 million. Broz also sold another 1,225 shares at $204.29 on September 24, 2026, totaling approximately $250,255.
Analysts Set New Price Targets
On October 15, 2026, Keefe, Bruyette & Woods reiterated its Outperform rating on PGR while adjusting the price target to $246, down from $252. Earlier, JP Morgan maintained a Neutral rating with a price target of $250, and Barclays kept an Overweight rating with a target of $247. The consensus rating for the stock remains positive, reflecting a strong outlook among analysts.
About The Progressive Corporation
The Progressive Corporation is a leading insurance company in the United States, specializing in personal auto insurance and related products. It also offers coverage for motorcycles, RVs, and watercraft, as well as homeowners and renters insurance. The company's recent adjustments in analyst ratings highlight its position in the competitive insurance market.
Bottom Line
Investors should watch for The Progressive Corporation's next earnings report on November 2, 2026, as well as further analyst updates that may impact the stock's performance. The recent reiteration of the Outperform rating by Keefe, Bruyette & Woods suggests ongoing confidence in the company's prospects despite the adjusted price target.
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Source: Keefe, Bruyette & Woods's rating change on $PGR (Oct 15, 2026). Written by software, not financial advice. How we make alerts