Wells Fargo lowered the firm’s price target on Progressive (PGR) to $214 from $220 and keeps an Equal Weight rating on the shares. The firm notes shares underperformed on lower premium growth, which overshadowed PIF growth that was relatively in line with Wells and higher-than-expected buybacks. The firm’s outer year numbers go down on lower growth assumptions and lower net interest income.
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Read More on PGR:
- Progressive price target raised to $232 from $225 at Keefe Bruyette
- Progressive Reports January 2026 Financial Performance Update
- Progressive reports January EPS $1.98 vs. $1.90 last year
- Neutral on Progressive: Rising Loss Ratios and Intensifying Competition Limit Upside Despite Above-Consensus EPS Forecasts
- Progressive price target lowered to $216 from $230 at Jefferies