Progressive Corporation (The) (NYSE: PGR) recently received a number of ratings updates from brokerages and research firms:

  • 9/25/2017 – Progressive Corporation (The) had its “buy” rating reaffirmed by analysts at MKM Partners.
  • 9/20/2017 – Progressive Corporation (The) was upgraded by analysts at Credit Suisse Group from an “underperform” rating to a “neutral” rating. They now have a $48.00 price target on the stock, up previously from $42.00.
  • 9/19/2017 – Progressive Corporation (The) had its “hold” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $47.00 price target on the stock.
  • 9/19/2017 – Progressive Corporation (The) had its price target lowered by analysts at UBS AG from $53.00 to $52.00. They now have a “buy” rating on the stock.
  • 9/18/2017 – Progressive Corporation (The) had its price target raised by analysts at Credit Suisse Group from $38.00 to $42.00. They now have an “underperform” rating on the stock.
  • 9/11/2017 – Progressive Corporation (The) is now covered by analysts at Buckingham Research. They set an “underperform” rating and a $40.00 price target on the stock.
  • 9/1/2017 – Progressive Corporation (The) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/17/2017 – Progressive Corporation (The) had its price target raised by analysts at Citigroup Inc. from $49.00 to $50.00. They now have a “neutral” rating on the stock.
  • 8/16/2017 – Progressive Corporation (The) had its “hold” rating reaffirmed by analysts at Wells Fargo & Company.
  • 8/11/2017 – Progressive Corporation (The) had its price target raised by analysts at Barclays PLC from $39.00 to $41.00. They now have an “underweight” rating on the stock.
  • 8/11/2017 – Progressive Corporation (The) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of Progressive Corporation (NYSE PGR) traded up 0.08% during mid-day trading on Tuesday, hitting $49.07. The stock had a trading volume of 2,542,803 shares. The firm’s 50 day moving average price is $47.25 and its 200 day moving average price is $43.83. Progressive Corporation has a 1-year low of $30.63 and a 1-year high of $49.19. The company has a market cap of $28.51 billion, a P/E ratio of 20.88 and a beta of 0.87.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.01). The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Analysts predict that Progressive Corporation will post $2.30 earnings per share for the current fiscal year.

In other news, insider Susan Patricia Griffith sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.66, for a total value of $1,703,100.00. Following the transaction, the insider now owns 221,715 shares in the company, valued at $10,788,651.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John P. Sauerland sold 50,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $48.65, for a total value of $2,432,500.00. Following the transaction, the chief financial officer now directly owns 370,364 shares in the company, valued at approximately $18,018,208.60. The disclosure for this sale can be found here. In the last three months, insiders sold 86,250 shares of company stock valued at $4,196,513. 0.56% of the stock is currently owned by insiders.

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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