BMO Capital has downgraded Progressive Corp (PGR) to Market Perform from Outperform, effective September 16, 2025. This decision reflects a more cautious outlook on the company, potentially due to competitive pressures and market conditions that may affect performance.
Progressive Corp, based in Mayfield, Ohio, is a prominent player in the insurance industry, providing personal and commercial auto insurance, residential property insurance, and specialty property-casualty insurance. The company employs approximately 66,300 people and has a market capitalization of $131.1 billion. As of now, Progressive's stock is trading at $228.29, with a trailing P/E ratio of 12.24 and a dividend yield of 17.9%.
The recent downgrade comes amidst a mixed earnings performance, with Q3 2025 results showing an EPS of $4.05, falling short of estimates by 20.4%. Looking ahead, analysts anticipate EPS of $3.93 and revenue of $22.4 billion for the upcoming earnings report on August 3, 2026.
Analyst ratings, while informative, are based on various assumptions and should be considered alongside company fundamentals and market trends. As of November 1, 2025, the consensus rating for Progressive Corp is a Buy, with a total of 29 analysts covering the stock, including 5 Strong Buy and 9 Buy ratings. It is important to note that analyst opinions can change as new information becomes available, reflecting the dynamic nature of the market.