Progressive (PGR) PT Set at $57.00 by Wells Fargo & Co
Progressive (NYSE:PGR) received a $57.00 price objective from equities research analysts at Wells Fargo & Co in a report issued on Wednesday. The firm currently has a “hold” rating on the insurance provider’s stock. Wells Fargo & Co’s target price would indicate a potential upside of 0.51% from the company’s previous close.
Several other research firms have also issued reports on PGR. Keefe, Bruyette & Woods restated a “buy” rating and issued a $58.00 price target on shares of Progressive in a research report on Friday, November 17th. B. Riley restated a “hold” rating and issued a $46.00 price target on shares of Progressive in a research report on Wednesday, November 15th. Credit Suisse Group restated a “hold” rating and issued a $48.00 price target on shares of Progressive in a research report on Friday, December 15th. MKM Partners lifted their price target on shares of Progressive from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Morgan Stanley lifted their price target on shares of Progressive from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Progressive currently has a consensus rating of “Hold” and an average target price of $50.65.
Progressive (NYSE PGR) traded up $0.41 during trading on Wednesday, reaching $56.71. 2,694,720 shares of the company’s stock traded hands, compared to its average volume of 4,089,357. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.37. The firm has a market capitalization of $30,958.07, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. Progressive has a 12-month low of $38.27 and a 12-month high of $58.25.
In other Progressive news, insider William M. Cody sold 25,000 shares of Progressive stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the transaction, the insider now directly owns 137,722 shares in the company, valued at approximately $7,726,204.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Exane Derivatives purchased a new position in shares of Progressive during the 4th quarter valued at $104,000. First Personal Financial Services grew its holdings in shares of Progressive by 101.8% during the 4th quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 1,111 shares in the last quarter. Balentine LLC grew its holdings in shares of Progressive by 3,273.0% during the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock valued at $121,000 after acquiring an additional 2,422 shares in the last quarter. MUFG Americas Holdings Corp grew its holdings in shares of Progressive by 824.9% during the 4th quarter. MUFG Americas Holdings Corp now owns 3,561 shares of the insurance provider’s stock valued at $201,000 after acquiring an additional 3,176 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. purchased a new position in shares of Progressive during the 4th quarter valued at $205,000. Institutional investors and hedge funds own 78.27% of the company’s stock.
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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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