Wells Fargo Cuts The Progressive (PGR) Price Target to $196
Wells Fargo reiterates its Underweight rating on PGR with a revised price target of $196, a 9.89% downside from the current price.
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Wells Fargo cut its price target on The Progressive Corporation ($PGR) to $196 from $201 on October 15, 2026, and rates the stock "Underweight".
Since the rating, $PGR is up 2.2% to date (from the $213.75 close on Oct 15, 2026).
PGR
The Progressive Corporation
Key Points
- On October 15, 2026, Wells Fargo reiterated its Underweight rating on The Progressive Corporation (PGR) with a price target of $196, down from $201.
- Wells Fargo's $196 price target implies 9.89% downside from The Progressive Corporation's ($PGR) current $217.50 share price.
- As of October 16, 2026, PGR was recently trading around $217.50, which is about 11.0% above Wells Fargo's new price target.
- PGR has a trailing twelve-month revenue of approximately $91.02 billion and an EPS of $19.94, reflecting a solid financial position.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated The Progressive Corporation alert may contain errors. Disclosures
Wells Fargo reiterated its Underweight rating on The Progressive Corporation (NYSE: PGR) on October 15, 2026. The firm set a new price target of $196, down from $201. This represents a cautious outlook as the insurance company navigates its market challenges.
Wells Fargo vs. the S&P 500
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Other Institutional Activity in The Progressive Corporation
BlackRock Inc. trimmed its stake in The Progressive Corporation by 4,274,846 shares, ending with 48,048,848 shares valued at about $10.5 billion. Vanguard Capital Management LLC added 49,528 shares, bringing its total to 38,148,192 shares worth around $8.3 billion. Meanwhile, Capital Research Global Investors increased its holdings by 3,975,255 shares, totaling 26,549,107 shares valued at about $5.8 billion.
The Progressive Corporation Stock Up 1.8%
This price is about 11.0% above the new target set by Wells Fargo, indicating a premium valuation compared to the analyst's expectations.
$PGR price target
The Progressive Corporation daily closes and this analyst's $196 target. Not advice.
Recent Earnings
For its trailing twelve months, The Progressive Corporation reported revenue of approximately $91.02 billion and an EPS of $19.94. The company's return on equity stands at 34.9%, showcasing strong profitability.
Insider Buying and Selling at The Progressive Corporation
Insider trading activity includes several sales: Lori A. Niederst, an officer, sold 7,339 shares on August 13, 2026, for about $1.54 million. Chief Technology Officer Steven Broz sold 1,225 shares on August 20, 2026, for approximately $268,765. CEO Susan Patricia Griffith sold 37,338 shares on September 1, 2026, valued at about $8.2 million. Additionally, Broz sold another 1,225 shares on September 24, 2026, for roughly $250,255.
Analysts Set New Price Targets
On October 15, 2026, Wells Fargo maintained its Underweight rating on PGR with a target of $196. This contrasts with other recent analyst actions, such as Keefe, Bruyette & Woods reiterating an Outperform rating with a target of $250 and JP Morgan maintaining a Neutral rating with a target of $250, reflecting varied opinions on the stock's outlook.
About The Progressive Corporation
The Progressive Corporation is a leading insurance company in the U.S., specializing in personal auto insurance and various other lines, including motorcycles and homeowners' insurance. The recent rating from Wells Fargo highlights differing views on the company's growth and market position.
Bottom Line
Investors should keep an eye on PGR's upcoming earnings date and any further analyst ratings or price target adjustments. The company's recent performance and insider sales may play a significant role in shaping market perceptions going forward.
Related Filing Alerts
Source: Wells Fargo's rating change on $PGR (Oct 15, 2026). Written by software, not financial advice. How we make alerts