A number of firms have modified their ratings and price targets on shares of Progressive Corporation (The) (NYSE: PGR) recently:

  • 7/13/2017 – Progressive Corporation (The) was upgraded by analysts at UBS AG from an “outperform” rating to a “strong-buy” rating.
  • 7/13/2017 – Progressive Corporation (The) was upgraded by analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating. They now have a $52.00 price target on the stock, up previously from $45.00.
  • 7/13/2017 – Progressive Corporation (The) had its price target raised by analysts at Citigroup Inc. from $45.00 to $46.00. They now have a “neutral” rating on the stock.
  • 7/11/2017 – Progressive Corporation (The) had its price target raised by analysts at FBR & Co from $36.00 to $40.00. They now have a “mkt perform” rating on the stock.
  • 7/7/2017 – Progressive Corporation (The) had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $43.00 price target on the stock, up previously from $40.00.
  • 7/3/2017 – Progressive Corporation (The) had its price target raised by analysts at Barclays PLC from $35.00 to $39.00. They now have an “underweight” rating on the stock.
  • 6/19/2017 – Progressive Corporation (The) was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “Shares of Progressive significantly outperformed the Zacks categorized Property and Casualty industry, year to date. Progressive strives to become a one-stop insurance destination by catering to customers opting for a combination of home and auto.  Its property business has also gained pace. Policies in force and retention ratio will continue to remain healthy. Focus on paying back its shareholders via dividends as well as share repurchases that lower share count and boosts the bottom line. However, the company’s growth could be challenged by intense competition. Increasing combined ratio, underperforming commercial auto business are other near-term headwinds.”
  • 6/17/2017 – Progressive Corporation (The) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/16/2017 – Progressive Corporation (The) had its price target raised by analysts at Bank of America Corporation from $48.00 to $49.00. They now have a “buy” rating on the stock.
  • 6/14/2017 – Progressive Corporation (The) had its “hold” rating reaffirmed by analysts at Wells Fargo & Company.
  • 6/9/2017 – Progressive Corporation (The) had its “buy” rating reaffirmed by analysts at MKM Partners. They now have a $50.00 price target on the stock, up previously from $45.00.

Shares of Progressive Corporation (NYSE:PGR) opened at 45.45 on Tuesday. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $46.33. The firm has a market capitalization of $26.40 billion, a price-to-earnings ratio of 22.18 and a beta of 0.85. The company’s 50-day moving average price is $42.89 and its 200 day moving average price is $39.38.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings data on Tuesday, April 18th. The insurance provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.01. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Progressive Corporation (The) had a net margin of 4.95% and a return on equity of 13.99%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that Progressive Corporation will post $2.39 EPS for the current fiscal year.

In other news, insider William M. Cody sold 50,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $44.65, for a total transaction of $2,232,500.00. Following the completion of the transaction, the insider now directly owns 151,051 shares of the company’s stock, valued at approximately $6,744,427.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Broz sold 1,100 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $41.55, for a total value of $45,705.00. Following the transaction, the insider now directly owns 8,955 shares of the company’s stock, valued at $372,080.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,100 shares of company stock valued at $3,168,605. Company insiders own 0.56% of the company’s stock.

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

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