Current Price: $207.50 (as of April 21, 2026) Market Cap: $119.1 billion Sector: Property and Casualty Insurance
📊 Stock Performance
Progressive shares are up 5.55% over the past week and 1.83% in the last day, though down 8.88% YTD. The stock is showing recent momentum with an RSI of 58.63, indicating neutral territory with slight bullish bias.
🎯 ORTEX Stock Scores (as of April 22, 2026)
Progressive demonstrates strong fundamentals with solid quality and growth scores:
Score
Value
Interpretation
Total Score
69.76/100
Above-average overall rating
Quality
72.52/100
Strong - indicates solid business fundamentals
Growth
67.66/100
Good - showing positive expansion metrics
Value
58.72/100
Moderate - fairly valued at current levels
Momentum
30.19/100
Weak - recent price action has lagged
The scores reveal a high-quality insurance company with good growth prospects, though momentum has cooled recently.
📉 Short Interest Metrics
Short interest in PGR remains very low, indicating limited bearish sentiment:
Short Interest % of Float: 1.24%
Shares Short: 7.29 million
Days to Cover: 2.19
Cost to Borrow: 0.56% (up 41.8% over 1 week)
Utilization: 0.71% (very low)
Recent Change: SI up 7.65% over 1 month
The low short interest (1.24% of float) suggests minimal bearish positioning. The recent increase in cost to borrow (up to 0.56%) and slight uptick in shares short may indicate growing borrowing demand, though levels remain very modest overall.
ORTEX Short Score: 29.98/100 - indicates low short squeeze potential and minimal short seller pressure.
The company operates with a fortress balance sheet, holding net cash rather than debt, and generates substantial cash flow from operations.
📈 Options Activity
Put/Call Ratio: 0.71 (as of April 21)
20-Day Mean PCR: 0.68
Z-Score: +0.83 (elevated put activity vs. recent average)
The PCR of 0.71 shows moderate put activity relative to calls. The positive z-score indicates slightly elevated hedging activity compared to the recent 20-day average.
🎤 Upcoming Events
Next Earnings: May 5, 2026 at 1:30 PM UTC (Q1 2026 Earnings Call)
📰 Recent News Highlights
Progressive continues to make industry headlines:
April 21: Ranked #1 on Forbes America's Best Employers for Company Culture 2026
April 21: Released March 2026 monthly results
Recent analyst consensus remains at "Hold" with an 11% return potential to analyst price targets
🏢 Peer Comparison
Top correlated peers (by correlation rating):
Marsh & McLennan (MRSH) - 86% correlation
Primerica (PRI) - 74% correlation
Ryan Specialty Holdings (RYAN) - 73% correlation
Fidelity National Financial (FNF) - 72% correlation
Progressive's 1-week performance (+5.55%) outpaced most insurance peers during the period.
🔑 Key Takeaways
Strengths:
Exceptional quality score (72.52) reflects solid underwriting and operations
Strong balance sheet with $11.6B net cash position
High growth score (67.66) for a mature insurer
Very low short interest indicates broad market confidence
Industry-leading workplace culture recognition
Considerations:
Momentum score is weak (30.19) - recent price action has lagged
YTD performance down 8.88%
Valued at moderate levels (value score 58.72)
Analyst consensus at "Hold" suggests limited near-term upside
Progressive remains a high-quality insurance franchise with strong fundamentals and minimal bearish pressure. The weak momentum score and muted analyst outlook suggest a "show me" period may be ahead, with earnings on May 5 providing the next catalyst.
This is not financial advice. Data is subject to change and may contain inaccuracies.
Short interestCost to borrowUtilizationOptions flowEarningsAnalyst consensusInstitutional positioningORTEX Alpha signals
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
