Progressive Corporation (The) (NYSE:PGR) had its price target raised by MKM Partners to $60.00 in a research note released on Thursday. They currently have a buy rating on the insurance provider’s stock.

PGR has been the topic of a number of other research reports. Morgan Stanley boosted their price target on Progressive Corporation (The) from $49.00 to $51.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. B. Riley restated a hold rating and set a $46.00 price target on shares of Progressive Corporation (The) in a report on Wednesday. Barclays PLC boosted their price target on Progressive Corporation (The) from $41.00 to $43.00 and gave the company an underweight rating in a report on Monday, October 16th. Zacks Investment Research upgraded Progressive Corporation (The) from a hold rating to a buy rating and set a $53.00 price target on the stock in a report on Wednesday, August 2nd. Finally, Credit Suisse Group boosted their price target on Progressive Corporation (The) from $38.00 to $42.00 and gave the company an underperform rating in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Progressive Corporation (The) has an average rating of Hold and an average price target of $47.76.

Shares of Progressive Corporation (PGR) traded down $0.02 during trading hours on Thursday, reaching $51.55. The company had a trading volume of 2,240,670 shares, compared to its average volume of 3,085,421. Progressive Corporation has a 52 week low of $32.77 and a 52 week high of $52.08. The stock has a market cap of $29,826.19, a P/E ratio of 22.39, a PEG ratio of 2.96 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 (The) (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Progressive Corporation (The) had a return on equity of 15.40% and a net margin of 5.41%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the previous year, the business earned $0.34 EPS. Progressive Corporation (The)’s revenue was up 18.1% compared to the same quarter last year. equities research analysts anticipate that Progressive Corporation will post 2.36 earnings per share for the current fiscal year.

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In other news, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total value of $297,000.00. Following the sale, the chief marketing officer now directly owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey W. Basch sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the sale, the insider now directly owns 70,965 shares in the company, valued at $3,422,641.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,250 shares of company stock worth $1,085,383. Insiders own 0.56% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its position in shares of Progressive Corporation (The) by 126.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 96,585 shares of the insurance provider’s stock worth $4,677,000 after purchasing an additional 53,917 shares in the last quarter. National Planning Corp boosted its position in shares of Progressive Corporation (The) by 28.0% in the 2nd quarter. National Planning Corp now owns 9,125 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 1,995 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Progressive Corporation (The) by 1.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,038,766 shares of the insurance provider’s stock worth $310,340,000 after purchasing an additional 79,773 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Progressive Corporation (The) by 7.4% in the 2nd quarter. Martingale Asset Management L P now owns 678,437 shares of the insurance provider’s stock worth $29,913,000 after purchasing an additional 47,002 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Progressive Corporation (The) by 62.6% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,739,335 shares of the insurance provider’s stock worth $76,687,000 after purchasing an additional 669,428 shares in the last quarter. 77.82% of the stock is currently 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)

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