Jefferies analyst Andrew Andersen maintained a Hold rating on Progressive yesterday and set a price target of $232.00.
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Andrew Andersen has given his Hold rating due to a combination of factors influencing Progressive’s financial outlook. The analyst’s decision is based on the company’s unchanged earnings per share (EPS) estimates for 2026 and 2027, which are slightly above the consensus. This suggests a stable yet not overly optimistic growth trajectory.
Furthermore, while the projected growth in personal auto policies in force (PIF) aligns with market expectations, there are conservative estimates regarding homeowners’ combined ratios, indicating potential underwriting losses despite improvements in rates. Additionally, the anticipation of a special dividend and increased share repurchase activities reflects a balanced capital deployment strategy, which supports the Hold rating as it indicates limited upside potential in the stock price.
In another report released on November 21, BMO Capital also maintained a Hold rating on the stock with a $260.00 price target.