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Progressive ( (PGR) ) has issued an announcement.
On March 23, 2026, The Progressive Corporation entered into an underwriting agreement with Goldman Sachs & Co. LLC and TD Securities (USA) LLC to issue $500 million of 4.60% senior notes due 2031 and $1 billion of 5.15% senior notes due 2036. The transaction, expected to close on March 26, 2026, includes customary representations, covenants, and indemnification provisions for both the company and underwriters.
The notes, issued under an existing 2018 indenture and a new fifth supplemental indenture, will pay interest semi-annually each March 26 and September 26 starting September 26, 2026, with maturities on March 26, 2031, and March 26, 2036, respectively. Progressive expects net proceeds of about $1.487 billion after underwriting discounts and expenses, strengthening its funding position and providing additional long-term capital for its insurance operations and balance sheet management.
The most recent analyst rating on (PGR) stock is a Hold with a $215.00 price target. To see the full list of analyst forecasts on Progressive stock, see the PGR Stock Forecast page.
Spark’s Take on PGR Stock
According to Spark, TipRanks’ AI Analyst, PGR is a Outperform.
The score is driven primarily by strong fundamental profitability and very positive earnings-call guidance/results, supported by attractive valuation (low P/E and high yield). Offsetting factors include elevated uncertainty in the latest-period financial statement comparability (notably 2025 balance sheet/cash-flow inconsistencies) and mixed technicals with price still below the 200-day average and stretched short-term momentum.
To see Spark’s full report on PGR stock, click here.
More about Progressive
The Progressive Corporation is a major U.S. insurance provider best known for its auto insurance offerings, while also writing property and specialty lines across personal and commercial markets. As one of the largest insurers in its segments, it regularly taps the capital markets to fund growth, manage its balance sheet, and support long-dated underwriting liabilities.
Average Trading Volume: 3,505,686
Technical Sentiment Signal: Hold
Current Market Cap: $118.8B
See more insights into PGR stock on TipRanks’ Stock Analysis page.