Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

Company profile
Ticker
PGR
Exchange
Website
CEO
Susan Griffith
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
ARX Holding Corp. • American Strategic Insurance Corp. • Ark Royal Underwriters, LLC • ASI Assurance Corp. • ASI Home Insurance Corp. • ASI Lloyds, Inc. • ASI Preferred Insurance Corp. • ASI Select Auto Insurance Corp. • ASI Select Insurance Corp. • ASI Underwriters Corp. ...
IRS number
340963169
PGR stock data
News

What To Know About Keefe, Bruyette & Woods's Upgrade of Progressive
24 Jun 22
Expert Ratings for Progressive
24 Jun 22
Benzinga's Top Ratings Upgrades, Downgrades For June 24, 2022
24 Jun 22
Keefe, Bruyette & Woods Upgrades Progressive to Market Perform, Raises Price Target to $107
24 Jun 22
Here's How Much You Would Have Made Owning Progressive Stock In The Last 10 Years
15 Jun 22
Press releases
Thinking about trading options or stock in Alibaba, Devon Energy, Lennar Corp, Exxon Mobil, or Progressive?
21 Jun 22
Progressive Reports May 2022 Results
21 Jun 22
Progressive Insurance® Unveils Driving Small Business Forward Grant Program to Support Hispanic Entrepreneurs
23 May 22
Progressive Insurance® Unveils Flo's Former Flame, Jon Hamm, in the Brand's Latest Creative Campaign
18 May 22
Progressive Announces Quarterly Common Share Dividend, Share Repurchase Authorization, and April 2022 Results
18 May 22
Analyst ratings and price targets
Current price
Average target
$107.50
Low target
$90.00
High target
$135.00
Keefe, Bruyette & Woods
Upgraded
$107.00
Raymond James
Maintains
$135.00
Citigroup
Initiated
$93.00
Barclays
Maintains
$90.00
Morgan Stanley
Upgraded
$115.00
Credit Suisse
Initiated
$124.00
Piper Sandler
Downgraded
$100.00
Wells Fargo
Maintains
$96.00
Calendar
2 May 22
26 Jun 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
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Change in cash | |||||
Diluted EPS |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
24 May 22 | Mascaro Daniel P | Common Stock | Sell | Dispose S | No | Yes | 112.94 | 558 | 63.02K | 38,886.884 |
16 May 22 | Bleser Philip | Common Stock | Grant | Acquire A | No | No | 0 | 2,962 | 0 | 2,962 |
16 May 22 | Davis Charles A | Common Stock | Grant | Acquire A | No | No | 0 | 2,962 | 0 | 332,647 |
16 May 22 | Farah Roger N | Common Stock | Grant | Acquire A | No | No | 0 | 3,098 | 0 | 10,637.389 |
16 May 22 | Fitt Lawton W | Common Stock | Grant | Acquire A | No | No | 0 | 4,739 | 0 | 14,128 |
Institutional ownership, Q1 2022
82.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1037 |
Opened positions | 102 |
Closed positions | 102 |
Increased positions | 360 |
Reduced positions | 414 |
13F shares | Current |
---|---|
Total value | 55.27B |
Total shares | 484.89M |
Total puts | 1.35M |
Total calls | 1.21M |
Total put/call ratio | 1.1 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 48.45M | $5.52B |
BLK Blackrock | 44.45M | $5.07B |
Wellington Management | 33.24M | $3.79B |
STT State Street | 27M | $3.08B |
JPM JPMorgan Chase & Co. | 24.94M | $2.84B |
Massachusetts Financial Services | 16.21M | $1.85B |
Geode Capital Management | 10.55M | $1.2B |
BAC Bank Of America | 10.37M | $1.18B |
Artisan Partners Limited Partnership | 9.38M | $1.07B |
Capital World Investors | 9M | $1.03B |
Financial report summary
?Competition
NIRisks
- Our success depends on our ability to establish accurate loss reserves.
- Our insurance operating results have been and will likely continue to be materially adversely affected by severe weather or other catastrophe events, and climate change may be exacerbating these impacts.
- Our success will depend on our ability to continue to accurately predict our reinsurance needs, obtain sufficient reinsurance coverage for our Property and other businesses at reasonable cost, and collect under our reinsurance contracts.
- We compete in property and casualty insurance markets that are highly competitive.
- Our success depends on our ability to innovate effectively and respond to our competitors’ initiatives.
- We must effectively manage complexity as we develop and deliver high-quality products and customer experiences.
- Intellectual property rights could affect our competitiveness and our business operations.
- Our success depends on our ability to adjust claims accurately.
- We must maintain a brand that is recognized and trusted by consumers.
- Our ability to attract, develop, and retain talent, including employees, managers, and executives, and to maintain appropriate staffing levels, is critical to our success.
- We are subject to a variety of complex laws and regulations.
- Lawsuits challenging our business practices, and those of our competitors and other companies, are pending and more may be filed in the future.
- Our business could be materially adversely affected by a security breach or other attack involving our computer systems or the systems of one or more of our vendors.
- Our business depends on the secure and uninterrupted operation of our facilities, systems, and business functions and the operation of various third-party systems.
- Efforts to acquire or develop new products or enter new areas of business may not be successful and may create enhanced risks.
- If we were not able to send or accept electronic payments, our business and financial results could be adversely affected.
- We may be required to recognize impairments in the value of the goodwill or intangible assets recorded in our financial statements.
- The performance of our fixed-income and equity investment portfolios is subject to a variety of investment risks.
- New regulations and societal pressures relating to environmental, social, and other public policy matters could negatively impact our returns or cause us to change our investing strategies in ways that could negatively impact our results.
- The elimination of the London Interbank Offered Rate (LIBOR) may adversely affect the interest rates on and value of certain floating rate securities and other instruments that we hold.
- The inability to access our cash accounts or to convert investments into cash on favorable terms when we desire to do so may materially and adversely affect our business.
- Our financial condition may be adversely affected if one or more parties with which we enter into significant contracts or transact business (including under certain government programs) become insolvent, experience other financial difficulties, or default in the performance of contractual or reimbursement obligations.
- Our insurance subsidiaries may be limited in the amount of dividends that they can pay, which in turn may limit our ability to repay indebtedness, make capital contributions to other subsidiaries or affiliates, pay dividends to shareholders, repurchase securities, or meet other obligations.
- The terms of our outstanding preferred shares prohibit us from paying a dividend on our common shares in certain circumstances.
- If we are unable to obtain capital when necessary to support our business, our financial condition, and our ability to grow could be materially adversely affected.
- Our access to capital markets, ability to obtain or renew financing arrangements, obligations to post collateral under certain derivative contracts, and business operations are dependent on favorable evaluations and ratings by credit and other rating agencies.
- Our dividend policy may result in varying amounts being paid to our common shareholders, or no payment in some periods, and the dividend policy ultimately may be changed in the discretion of the Board of Directors.
- Our investments in certain tax-advantaged projects may not generate the anticipated tax benefits and related returns.
- The outbreak of the novel coronavirus, or COVID-19, and the restrictions put in place to help slow and/or stop the spread of the virus and its variants, could materially adversely affect our business and results of operations.
- Our goal is to maximize the long-term value of the enterprise and we do not manage to short-term earnings expectations, which may adversely affect short-term results.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
|
New words:
accessibility, achieve, achieving, agree, behavior, broker, casualty, choose, coastal, compete, deducting, diminution, enabled, environmental, estate, evenly, exacerbated, exemption, granted, handling, heightened, homeowner, insufficient, lessen, modestly, month, NAER, necessitate, nonmedical, online, outlook, patent, permanent, provision, real, reward, SASB, semiannually, societal, split, statutory, Telephone, term, tight, tolerance, traditionally, transferred, underwritten, unforeseen, vesting, violation, wholesale, widened, wrote
Removed:
accelerating, accuracy, actuarially, agreement, aided, ALAE, attempting, back, body, closure, Columbia, comparing, condominium, core, distancing, District, dramatically, enhance, enjoy, equipment, exclude, existing, family, flood, gain, high, historically, Hurricane, indexed, Internet, Irma, issue, labor, lease, mutual, NA, occurrence, outbreak, outpaced, paragraph, partly, performed, permitted, posted, profitable, prominently, rebound, receiving, reducing, reinsured, restrictive, rideshare, scaling, secondary, shareholder, shortened, supplemented, temporary, undergo, unit, website
Financial reports
Current reports
8-K
Progressive Reports May Results
21 Jun 22
8-K
Progressive Announces Quarterly Common Share Dividend, Share Repurchase Authorization, and April Results
18 May 22
8-K
Submission of Matters to a Vote of Security Holders
16 May 22
8-K
Progressive Reports March Results
14 Apr 22
8-K
Progressive Reports February Results
16 Mar 22
8-K
Other Events
9 Mar 22
8-K
Progressive Reports January Results
16 Feb 22
8-K
Progressive Reports December Results
26 Jan 22
8-K
Progressive Reports November Results
15 Dec 21
8-K
Progressive Reports October Results
17 Nov 21
Registration and prospectus
424B5
Prospectus supplement for primary offering
4 Mar 22
FWP
Free writing prospectus
2 Mar 22
424B5
Prospectus supplement for primary offering
2 Mar 22
S-3ASR
Automatic shelf registration
20 Sep 21
424B5
Prospectus supplement for primary offering
19 Mar 20
FWP
Free writing prospectus
17 Mar 20
424B5
Prospectus supplement for primary offering
17 Mar 20
424B5
Prospectus supplement for primary offering
19 Oct 18
FWP
Free writing prospectus
18 Oct 18
424B5
Prospectus supplement for primary offering
18 Oct 18
Other
UPLOAD
Letter from SEC
25 Jan 22
CORRESP
Correspondence with SEC
23 Nov 21
UPLOAD
Letter from SEC
8 Nov 21
CORRESP
Correspondence with SEC
5 Oct 21
UPLOAD
Letter from SEC
22 Sep 21
NO ACT
No action letter
17 Feb 16
UPLOAD
Letter from SEC
26 Sep 13
CORRESP
Correspondence with SEC
24 Sep 13
UPLOAD
Letter from SEC
10 Sep 13
UPLOAD
Letter from SEC
2 Jul 12
Ownership
4
PROGRESSIVE / Daniel P Mascaro ownership change
25 May 22
4
PROGRESSIVE / JEFFREY D KELLY ownership change
18 May 22
4
PROGRESSIVE / Pamela J. Craig ownership change
18 May 22
4
PROGRESSIVE / Stuart B Burgdoerfer ownership change
18 May 22
4
PROGRESSIVE / Dyke Kahina Van ownership change
18 May 22
4
PROGRESSIVE / Jan E Tighe ownership change
18 May 22
4
PROGRESSIVE / Barbara R Snyder ownership change
18 May 22
4
PROGRESSIVE / Devin C Johnson ownership change
18 May 22
4
PROGRESSIVE / LAWTON W FITT ownership change
18 May 22
4
PROGRESSIVE / ROGER N FARAH ownership change
18 May 22
Patents
Utility
Intelligent conversational systems
5 Apr 22
A system and method simulates conversation with a human user.
Utility
Resource management system
29 Mar 22
A system automatically manages remote and local data through a declarative client that retrieves, tracks, and caches data in response to a transmission from an interface.
Utility
Intelligent routing control
1 Feb 22
A system and method classify insurance documents.
Utility
Intelligent routing control
19 Oct 21
A system and method classify insurance documents.
Utility
Chatbot artificial intelligence
15 Jun 21
A system and method simulate a chat-based conversation with a human user.
Transcripts
2022 Q1
Earnings call transcript
3 May 22
2021 Q4
Earnings call transcript
1 Mar 22
2021 Q3
Earnings call transcript
3 Nov 21
2021 Q2
Earnings call transcript
4 Aug 21
2021 Q1
Earnings call transcript
5 May 21
2020 Q4
Earnings call transcript
2 Mar 21
2020 Q3
Earnings call transcript
4 Nov 20
2020 Q2
Earnings call transcript
6 Aug 20
2020 Q1
Earnings call transcript
6 May 20
2019 Q4
Earnings call transcript
4 Mar 20
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