Progressive Corporation (The) (PGR) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their buy rating on shares of Progressive Corporation (The) (NYSE:PGR) in a report released on Friday morning. They currently have a $58.00 target price on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays PLC upped their price target on shares of Progressive Corporation (The) from $39.00 to $41.00 and gave the company an underweight rating in a report on Friday, August 11th. Wells Fargo & Company reiterated a hold rating on shares of Progressive Corporation (The) in a report on Thursday, August 3rd. BidaskClub upgraded shares of Progressive Corporation (The) from a buy rating to a strong-buy rating in a report on Friday, August 11th. FBR & Co reiterated a hold rating on shares of Progressive Corporation (The) in a report on Tuesday, October 17th. Finally, MKM Partners upped their price target on shares of Progressive Corporation (The) to $60.00 and gave the company a buy rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $47.76.

Progressive Corporation (PGR) opened at $51.82 on Friday. The stock has a market cap of $29,981.48, a P/E ratio of 22.51, a P/E/G ratio of 2.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Progressive Corporation has a 1-year low of $32.77 and a 1-year high of $52.08.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. equities analysts forecast that Progressive Corporation will post 2.36 EPS for the current year.

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In other Progressive Corporation (The) news, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Broz sold 1,250 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $48.73, for a total transaction of $60,912.50. Following the sale, the insider now directly owns 12,181 shares in the company, valued at $593,580.13. The disclosure for this sale can be found here. Insiders have sold 22,250 shares of company stock valued at $1,085,383 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its position in Progressive Corporation (The) by 145.3% during the third quarter. Public Employees Retirement System of Ohio now owns 898,307 shares of the insurance provider’s stock worth $43,496,000 after acquiring an additional 532,117 shares in the last quarter. GSA Capital Partners LLP raised its position in Progressive Corporation (The) by 31.3% during the third quarter. GSA Capital Partners LLP now owns 7,736 shares of the insurance provider’s stock worth $375,000 after acquiring an additional 1,846 shares in the last quarter. Coastline Trust Co bought a new stake in Progressive Corporation (The) during the third quarter worth $271,000. Sterling Capital Management LLC raised its position in Progressive Corporation (The) by 96.7% during the third quarter. Sterling Capital Management LLC now owns 121,220 shares of the insurance provider’s stock worth $5,869,000 after acquiring an additional 59,580 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Progressive Corporation (The) by 4.3% during the third quarter. California Public Employees Retirement System now owns 1,481,329 shares of the insurance provider’s stock worth $71,726,000 after acquiring an additional 61,118 shares in the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.

About Progressive Corporation (The)

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.

Analyst Recommendations for Progressive Corporation (The) (NYSE:PGR)

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