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

A number of other equities analysts also recently commented on the stock. ValuEngine upgraded shares of Progressive Corporation (The) from a hold rating to a buy rating in a research note on Friday, September 1st. Credit Suisse Group upgraded shares of Progressive Corporation (The) from an underperform rating to a neutral rating and boosted their target price for the stock from $42.00 to $48.00 in a research note on Wednesday, September 20th. Buckingham Research started coverage on shares of Progressive Corporation (The) in a research note on Monday, September 11th. They set an underperform rating and a $40.00 target price for the company. Morgan Stanley reiterated an equal weight rating and set a $47.00 target price (up previously from $43.00) on shares of Progressive Corporation (The) in a research note on Saturday, July 22nd. Finally, Citigroup Inc. boosted their target price on shares of Progressive Corporation (The) from $50.00 to $51.00 and gave the stock a neutral rating in a research note on Wednesday, October 18th. Two 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 company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $47.76.

Progressive Corporation (NYSE PGR) traded down $0.02 during trading hours on Friday, hitting $51.55. 2,240,000 shares of the company’s stock traded hands, compared to its average volume of 2,830,000. The firm has a market capitalization of $29,970.00, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.96 and a beta of 0.92. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive Corporation has a fifty-two week low of $32.76 and a fifty-two week high of $52.08.

Progressive Corporation (The) (NYSE:PGR) last posted its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. research analysts expect that Progressive Corporation will post 2.36 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Progressive Corporation (The) (PGR) Given “Buy” Rating at Keefe, Bruyette & Woods” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/11/18/progressive-corporation-the-pgr-given-buy-rating-at-keefe-bruyette-woods.html.

In other news, insider Steven Broz sold 1,250 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were 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 Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The disclosure for this sale can be found here. Insiders 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 insiders.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in shares of Progressive Corporation (The) by 126.4% in the third quarter. Meeder Asset Management Inc. now owns 96,585 shares of the insurance provider’s stock valued at $4,677,000 after buying an additional 53,917 shares during the last quarter. National Planning Corp raised its holdings in shares of Progressive Corporation (The) by 28.0% in the second quarter. National Planning Corp now owns 9,125 shares of the insurance provider’s stock valued at $404,000 after buying an additional 1,995 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Progressive Corporation (The) by 1.1% in the second quarter. JPMorgan Chase & Co. now owns 7,038,766 shares of the insurance provider’s stock valued at $310,340,000 after buying an additional 79,773 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Progressive Corporation (The) by 7.4% in the second quarter. Martingale Asset Management L P now owns 678,437 shares of the insurance provider’s stock valued at $29,913,000 after buying an additional 47,002 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Progressive Corporation (The) by 62.6% in the second quarter. Westfield Capital Management Co. LP now owns 1,739,335 shares of the insurance provider’s stock valued at $76,687,000 after buying an additional 669,428 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.