Progressive Corporation (The) (NYSE:PGR) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts have also recently issued research reports about the company. Barclays PLC boosted their price objective on Progressive Corporation (The) from $39.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. FBR & Co boosted their price target on Progressive Corporation (The) from $36.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, July 11th. UBS AG upgraded Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.00.

Progressive Corporation (NYSE:PGR) opened at 49.17 on Tuesday. The stock has a market cap of $28.57 billion, a P/E ratio of 20.92 and a beta of 0.87. The stock has a 50 day moving average price of $47.33 and a 200-day moving average price of $43.94. Progressive Corporation has a 12-month low of $30.63 and a 12-month high of $49.30.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The company’s revenue for the quarter 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. On average, equities analysts expect that Progressive Corporation will post $2.30 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “ValuEngine Downgrades Progressive Corporation (The) (PGR) to Hold” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2017/10/05/valuengine-downgrades-progressive-corporation-the-pgr-to-hold.html.

In related news, insider Steven Broz sold 1,250 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $48.73, for a total value of $60,912.50. Following the completion of the sale, the insider now directly owns 12,181 shares of the company’s stock, valued at $593,580.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 370,364 shares of the company’s stock, valued at $18,018,208.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,250 shares of company stock valued at $4,196,513. 0.56% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Progressive Corporation (The) by 2,817.6% during the first quarter. BlackRock Inc. now owns 35,897,019 shares of the insurance provider’s stock valued at $1,406,446,000 after purchasing an additional 34,666,678 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Progressive Corporation (The) by 8,999.0% during the second quarter. Janus Henderson Group PLC now owns 6,472,777 shares of the insurance provider’s stock valued at $285,384,000 after purchasing an additional 6,401,640 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Progressive Corporation (The) by 24,360.1% during the second quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock valued at $211,591,000 after purchasing an additional 4,779,442 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Progressive Corporation (The) by 40.4% during the second quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after purchasing an additional 3,332,180 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Progressive Corporation (The) by 515.0% during the second quarter. Voya Investment Management LLC now owns 2,665,312 shares of the insurance provider’s stock valued at $117,514,000 after purchasing an additional 2,231,956 shares during the last quarter. 79.41% of the stock is owned by hedge funds and other institutional investors.

Progressive Corporation (The) Company Profile

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)

Receive News & Stock Ratings for Progressive Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive Corporation (The) and related stocks with our FREE daily email newsletter.