Progressive (NYSE:PGR) PT Raised to $232.00

Progressive (NYSE:PGRGet Free Report) had its price target upped by equities researchers at Citigroup from $230.00 to $232.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price target would suggest a potential upside of 10.08% from the company’s current price.

Several other research analysts have also commented on the stock. Morgan Stanley cut their price target on shares of Progressive from $256.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, June 10th. Roth Mkm lifted their price objective on shares of Progressive from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Jefferies Financial Group raised their price target on shares of Progressive from $241.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets lifted their price objective on shares of Progressive from $234.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $216.81.

View Our Latest Research Report on PGR

Progressive Trading Up 1.2 %

Shares of PGR stock opened at $210.75 on Monday. The firm has a market cap of $123.44 billion, a P/E ratio of 21.57, a PEG ratio of 0.78 and a beta of 0.35. Progressive has a 1-year low of $111.41 and a 1-year high of $217.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s 50-day simple moving average is $209.16 and its 200-day simple moving average is $191.19.

Progressive (NYSE:PGRGet Free Report) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.74. The business had revenue of $18.96 billion for the quarter, compared to analyst estimates of $16.88 billion. Progressive had a net margin of 8.89% and a return on equity of 29.43%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. As a group, equities analysts forecast that Progressive will post 11.58 EPS for the current year.

Insider Activity at Progressive

In related news, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total transaction of $135,271.50. Following the sale, the chief accounting officer now directly owns 3,981 shares in the company, valued at $828,485.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Mariann Wojtkun Marshall sold 650 shares of Progressive stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $208.11, for a total transaction of $135,271.50. Following the sale, the chief accounting officer now directly owns 3,981 shares in the company, valued at $828,485.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 12,457 shares of Progressive stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $204.43, for a total transaction of $2,546,584.51. Following the sale, the chief financial officer now owns 312,958 shares in the company, valued at $63,978,003.94. The disclosure for this sale can be found here. Insiders have sold a total of 21,468 shares of company stock worth $4,415,753 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Progressive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Indiana Trust & Investment Management CO bought a new stake in Progressive in the first quarter worth about $32,000. Sachetta LLC purchased a new position in Progressive in the 4th quarter worth about $25,000. Northwest Bank & Trust Co purchased a new position in Progressive in the 4th quarter worth about $25,000. Register Financial Advisors LLC purchased a new position in Progressive in the 1st quarter worth about $35,000. Finally, LRI Investments LLC purchased a new position in Progressive in the 1st quarter worth about $36,000. 85.34% of the stock is currently owned by institutional investors.

Progressive Company Profile

(Get Free Report)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.

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Analyst Recommendations for Progressive (NYSE:PGR)

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