Stock Ratings / Financials / PGR / forecast

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Progressive Corporation (PGR) 12-Month Stock Forecast & Price Target Cone

$231.28 +0.48% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $232.03

Progressive Corporation (PGR) earns a Roarable Rating of A- (Buy) with 83/100 RQD Confidence. High-quality cash engine (steady margins, 20% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

📊 Historical Track Record: Scores of 83/100 (A-) historically ranked in the Top 7% of excess returns over the next 90 days (+8.7% avg 90D alpha vs SPY • 72.2% hit rate) →

ROARABLE A- • BUY Cap $133.82B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on PGR Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is PGR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-02, Progressive Corporation (NYSE: PGR) is rated A- (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 83/100 at a spot price of $231.28 (+0.48% 1D, market cap $133.82B). Pillar breakdown: Fundamental Cash Engine 16/20, Institutional 13F & Options Flow 17/20, Executive Insider Alignment 15/20, FRED Macro Regime Fit 16/20, and SEC Balance-Sheet Forensics 19/20. Across 1096 tracked Financials issuers, PGR ranks #2 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does PGR compare to CB and TRV in the Financials sector?

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Within the Financials sector (Property-Casualty Insurers), PGR carries a Roarable A- (83/100 RQD), trailing P/E of 11.8x, gross margin of —, and ROIC of 20.0%. By comparison, CB (Chubb Limited) holds a B+ grade (76/100 RQD, P/E 13.4x, ROIC 8.1%, cap $138.42B) and TRV (The Travelers Companies Inc.) posts a B+ grade (77/100 RQD, P/E 13.0x, ROIC 9.7%, cap $81.62B). Among the 5-stock peer group, ALL leads on earnings multiple (6.4x) while PGR leads on capital efficiency (20.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for PGR?

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Per PGR's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0000080661), Progressive Corporation generated $87.67B in revenue (+16.3% YoY), $11.31B in net income, and $17.20B in free cash flow against $123.04B in total assets and $41.72B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $232.04 (+0.33%)🧬 Cannibal Buyback (-3.20% YoY Shares)⚙️ Cash Engine: 16/20 (B+) • 19.6% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 83/100 (A-) historically ranked in the Top 7% of excess returns over the next 90 days (+8.7% avg 90D alpha vs SPY • 72.2% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERBUY • A-

3-of-3 JEV AI Jury Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw A · Rk B+

Each axis scored 0–20

12M PRICE TARGET CONE+11.3% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for PGR)Realized 20D OHLCV Swing Band: ±4.8%

Deterministic 5-Pillar Attribution (83/100 Composite)

🔍 WHY PGR SCORES 83/100 (A-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Insider Conviction & Share Dilution+19/20 pts (23% of score)

SEC Form 4 / 13F Thermometer: 86% Net Buy • Cannibal Buyback (-3.20% YoY Shares)

▲ #2 Bullish Driver: Whale & Options Positioning+17/20 pts (20% of score)

20D Institutional Volume Accumulation (±4.8% realized swing band)

▼ #1 Drag / Risk Factor: SEC 10-K Forensic Risk15/20 pts (-5 pt drag)

Balance-sheet & 10-K footnote risk deducts 5 pts from forensic ceiling

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade B+$222.88-0.4% Next Q

Q2 (-2Q)

Grade A-$221.93+1.7% Next Q

Q3 (-1Q)

Grade A-$225.60+2.5% Next Q

Current

Grade A-$231.28+8.7% Hist 90D α

Trajectory: B+ (75) → A- (83)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the PGR Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 83/100 (A-) score, PGR faces multiple-compression risk if 11.8x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-3.20% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($218.04) or 200D SMA ($209.54) invalidates the momentum regime and cuts Target Base ($257.30) toward Bear Floor ($189.65).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $PGR• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “PGR Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 83%NO 17%Trade / Inspect Odds →

INTERACTIVE 12-MONTH POSITION SIMULATOR

Drag to Test Your PGR Position Size: $10,000

Shares at $231.28: 43.2 sh

$1,000$10,000$25,000$50,000$100,000

12M Bear Case FloorTarget $189.65

$8,200

$-1,800 (-18.0%)

12M Consensus BaseTarget $257.30

$11,125

+$1,125 (+11.3%)

12M Bull Case BreakoutTarget $303.61

$13,127

+$3,127 (+31.3%)

Wall Street Analyst Breakdown & Historical Accuracy Audit (43 Desks)

Street Historical Accuracy: 64/100

● Strong Buy / Buy: 32● Hold: 9● Sell: 2

Wall Street Firm	Stance	12M Target	1Y Accuracy	Track Grade
Morgan StanleyInstitutional Equity Desk	OUTPERFORM	$268	74%	A
Goldman SachsSector Coverage Lead	STRONG BUY	$285	69%	B
JP MorganUS Large-Cap Research	HOLD	$223	58%	C

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Quantitative Research Desk

Scheduled RQD Strong Buys & Whale Accumulation Briefing (PGR Tape Review)

✓Breakdown of the highest-scoring RQD Green-Light breakouts across our 5,200+ rated universe
✓Forensic Red-Light accounting & dilution traps to review on your watchlist
✓Includes downloadable .ics calendar invite & nightly RQD rating-change email alerts

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?

Join Founding VIP Waitlist (No Card Required) →$100K Arena

PGR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +16.08%📐 HORIZONTAL RANGE

2026-11-02O $225.7H $231.3L $225.7C $231.3VOL 1.84M

RES: $235.8SUP: $200.6SMA50: $218.0SMA200: $209.5

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

PGR Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 PGR Butterfly Map → + Track PGR →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

2.2%/yr Implied 5Y Growth

vs. +16.3% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on PGR today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for PGR. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for PGR today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (PGR)

Financials Rank #2 of 1096 ⚔️ CB vs PGR Full Matrix →

1. Head-to-Head Financials Peer Comparison (PGR vs. CB, TRV, ALL, AIG)

Industry: Property-Casualty Insurers (68 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Progressive Corporation (PGR) ranks #2 by composite RQD confidence (83/100, grade A-) and #22 by equity capitalization ($133.82B). Within this direct 5-issuer industry benchmark cohort, ALL leads on earnings valuation at 6.4x trailing P/E, while PGR leads on capital efficiency and profitability with 20.0% ROIC and — gross margin. PGR currently leads its immediate peer cohort in composite quantitative strength at 83/100 (A-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
PGR ACTIVE Progressive Corporation	A-	83/100	11.8x	—	20.0%	+0.48%	$133.82B	Benchmark Subject
CB Chubb Limited	B+	76/100	13.4x	—	8.1%	+0.51%	$138.42B	/cb-vs-pgr →
TRV The Travelers Companies Inc.	B+	77/100	13.0x	—	9.7%	-0.51%	$81.62B	/trv-vs-pgr →
ALL Allstate Corporation	B+	78/100	6.4x	—	18.2%	+1.54%	$64.71B	/all-vs-pgr →
AIG American International Group Inc.	C+	68/100	13.8x	—	4.1%	+0.56%	$42.58B	/aig-vs-pgr →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0000080661

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Progressive Corporation (PGR) reported GAAP revenue of $87.67B (+16.3% vs. FY2024 revenue of $75.37B , and +41.2% cumulative change since FY2023) , GAAP net income of $11.31B, operating cash flow of $17.55B, and free cash flow of $17.20B (+15.9% YoY). On the balance sheet, PGR closed FY2025 with $123.04B in total assets against $41.72B in total debt (Altman Z-Score: N/A, Piotroski F-Score: 8/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$87.67B	$11.31B	$17.55B	$17.20B	$123.04B	$41.72B
FY2024 (FY)	2024-12-31	$75.37B	$8.48B	$15.12B	$14.83B	$105.75B	$36.07B
FY2023 (FY)	2023-12-31	$62.11B	$3.90B	$10.64B	$7.85B	$74.53B	$17.44B

3. PGR Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is PGR stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does PGR compare to CB and TRV in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for PGR?

Where is PGR trading relative to its 50-day, 200-day, and 52-week technical levels?

PGR last traded at $231.28 (+0.48% on volume of 1,938,619 shares), positioning the stock +6.07% above its 50-day simple moving average ($218.04) and +10.38% above its 200-day simple moving average ($209.54). Across its 52-week range of $189.20 to $239.38, PGR sits at the 83.9% percentile with a 14-day RSI of 62.8 (BULLISH MOMENTUM) and an implied next-earnings move of ±4.8% ($220.18 to $242.38).

PGR Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

What is PGR's 12-month stock price target?

Progressive Corporation (PGR) carries a 12-month consensus base price target of $257.3 (+11.3% from $231.28), with a bull-case target of $303.61 and a bear-case floor of $189.65.

Is PGR stock a Buy, Hold, or Sell right now?

Roarable's 5-Pillar RQD Quant Engine rates PGR A- (Buy — BUY) with an RQD Confidence score of 83/100.

Direct Sub-Reports: PGR RQD Cockpit PGR 12M Forecast PGR Earnings & Move PGR Dividends & DRIP PGR Insiders & 13F PGR Whale Options PGR Profit Sankey PGR News & Why

ROARABLE RATING BRIEF • RQD 83/100 (A-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

PGR — Progressive Corporation: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:09:27Z

Roarable Rating Brief: What This Means to a Prospective Investor

The per-the-Roarable RQD rating, PGR scores 83 out of 100, graded A- and labeled "Roarable Buy — Superior Risk/Reward." The five pillars are:

Fundamental cash engine: 16 / 20. Per the RQD rating, this pillar reflects ROIC of 20% and an FCF yield of 12.85%. These are the strongest quantitative anchors in the rating and suggest the business converts capital into cash at a high rate relative to the market price.
Whale 13F flow: 17 / 20. Per the RQD rating, this pillar reflects institutional accumulation and options positioning. It indicates that large holders' recent activity has been net constructive, though the underlying 13F detail is not provided in the source data.
Insider conviction: 19 / 20. This is the highest pillar score. Per the RQD rating, it reflects SEC Form 4 and Congressional PTR cluster flow. The specific transactions are not itemized in the source data, so the score cannot be traced to individual filings here.
Macro regime fit: 16 / 20. Per the RQD rating, this pillar reflects a beta of 1.15 and sector sensitivity. A beta above 1.0 means the stock has historically moved somewhat more than the broad market, so it may amplify market swings in either direction.
Forensic balance sheet: 15 / 20. Per the RQD rating, this pillar reflects an Altman Z-Score of 2.5, a Piotroski F-Score of 8/9, and a Debt/Equity ratio of 0.5. The Piotroski reading is strong; the Altman reading is in a range that warrants monitoring rather than signaling distress.

For a prospective investor evaluating the stock today, the rating points to strong cash generation and high insider conviction as its primary upside drivers. The valuation tradeoff is visible in the market data: a trailing P/E of 11.8 and forward P/E of 9.9 sit below the stock's own trend-based earnings base, which can imply the market is pricing in slower future earnings. The beta of 1.15 and the Q3 risk-watch headline (see Recent Catalysts) are the main items that could cut against the rating. This is an analytical summary of the source data, not a recommendation.

Snapshot

Price	Market Cap	P/E (TTM)	Forward P/E	EV/EBITDA	EPS (TTM)	Dividend Yield	Beta	52-Wk Range	ROIC %
230.18	$133.82B	11.8	9.9	11.2	19.45	2.15%	1.15	$189.2 - $239.38	20%

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$87671.0M	$13343.4M	$11308.0M	N/A	$17200.0M	N/A	$41722.2M
FY 2024	$75372.0M	$10006.4M	$8480.0M	N/A	$14834.0M	N/A	$36069.3M
FY 2023	$62109.0M	$4605.5M	$3903.0M	N/A	$7848.1M	N/A	$17440.2M

Per the SEC financials, revenue rose from $62109.0M in FY 2023 to $87671.0M in FY 2025, and net income rose from $3903.0M to $11308.0M over the same span. Market data reports an operating margin of 15.7%, a net margin of 12.9%, and a gross margin of 0%. ROIC is 20% per market data. Per the RQD rating, the Altman Z-Score is 2.5 and the Piotroski F-Score is 8/9, and the Debt/Equity ratio is 0.5. Cash balances are Not available in source data for any period.

Recent Catalysts & News Wire Analysis

Per the recent news feed, the items are:

Yahoo Finance (1h ago), YELLOW, MARKET WIRE: "Here is What to Know Beyond Why The Progressive Corporation (PGR) is a Trending Stock." A general market-action piece with no specific figures.
TradingView (3h ago), YELLOW, MARKET WIRE: "Progressive Set to Report Q3 Earnings: Here's What to Expect." Signals an upcoming Q3 earnings event; the expected figures are not in the source data.
Seeking Alpha (6h ago), RED, RISK WATCH: "Progressive stock dips as policies in force rise less than expected; Q3 combined ratio falls Y/Y." This is the only risk-flagged item. It points to policies-in-force growth below expectations, partly offset by a lower combined ratio year over year.
Yahoo Finance (9h ago), GREEN, CATALYST: "Why the Market Dipped But Progressive (PGR) Gained Today." Describes a day when PGR outperformed the market.
MarketBeat (12h ago), GREEN, CATALYST: A report on a fund selling PGR shares. This reflects institutional position change, not a fundamental event.
Seeking Alpha (15h ago), GREEN, CATALYST: "Progressive: A Great Insurer, But Slowing Growth Justifies A 'Hold.'" An analyst-style view that flags slowing growth while describing the company favorably.

Per the butterfly supply-chain graph, the supply chain is NONE, there are no butterfly links, and no proprietary signals are provided.

Open Questions

What are the Q3 earnings estimates and results, and does policies-in-force growth continue to lag expectations?
What are the individual SEC Form 4 and 13F transactions underlying the insider (19/20) and whale-flow (17/20) pillar scores?
What are the cash balances for FY 2023–FY 2025, and what is the EPS for each reported period?
What is the composition of revenue and the combined ratio trend beyond the single Q3 reference?
What is the basis for the 11.8 trailing vs. 9.9 forward P/E difference, and what earnings trajectory does the forward figure imply?

PGR Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Progressive Corporation (PGR) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to PGR Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 7h ago

Here is What to Know Beyond Why The Progressive Corporation (PGR) is a Trending Stock

Yahoo Finance report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 10h ago

Progressive Set to Report Q3 Earnings: Here's What to Expect

TradingView report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH Seeking Alpha • 13h ago

Progressive stock dips as policies in force rise less than expected; Q3 combined ratio falls Y/Y (PGR:NYSE)

Seeking Alpha report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo Finance • 16h ago

Why the Market Dipped But Progressive (PGR) Gained Today

Yahoo Finance report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST MarketBeat • 19h ago

The Progressive Corporation $PGR Stock Sold by James Hambro & Partners LLP

MarketBeat report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Seeking Alpha • 22h ago

Progressive: A Great Insurer, But Slowing Growth Justifies A 'Hold' (NYSE:PGR)

Seeking Alpha report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH TradingView • 1d ago

Progressive Corporation (The) Stock 12‑Month Price Target Cut to $233.1, Implies 9% Upside

TradingView report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo Finance • 1d ago

Progressive (PGR) Upgraded to Buy: Here's Why

Yahoo Finance report covering Progressive Corporation (PGR) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

PGR Bull vs. Bear Conversation Board — What's Your Call at $231.28?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON PGR 🐻 33% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐂 BULLISH 🎯 Target: $271.61 (+18.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is PGR (A- • RQD 83/100) a Buy at $230.18?

Welcome to the PGR (Progressive Corporation) Roar Pit. Current RQD Composite is 83/100 (Roarable Buy — Superior Risk/Reward) in Property-Casualty Insurers. Bulls point to capital efficiency (20.0% ROIC), while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

BE BearTrap_Alert Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $181.84 (-21.0%)

Spot @ $230.18

Pump the brakes on PGR — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on PGR, but look at what you are paying: 11.8x trailing P/E with tightening sector spreads. Unless Progressive Corporation expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

MI MidwestValue Verified K Arena Trader 🐂 BULLISH 🎯 Target: $273.91 (+19.0%)

Spot @ $230.18

PGR cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on PGR, the market is fixating on short-term headline noise in Property-Casualty Insurers and ignoring the balance sheet and cash flow trajectory. At $230.18 (52-wk range $189.20 - $239.38), any beat on forward guidance forces shorts and underweight funds to chase.