Progressive (NYSE:PGR) PT Raised to $235.00

Progressive (NYSE:PGRGet Free Report) had its price target upped by analysts at Roth Mkm from $215.00 to $235.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Roth Mkm’s target price points to a potential upside of 14.36% from the company’s current price.

PGR has been the topic of a number of other reports. TD Cowen began coverage on Progressive in a report on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price target on the stock. Raymond James cut Progressive from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 12th. Bank of America raised their target price on Progressive from $256.00 to $261.00 and gave the company a “buy” rating in a research note on Monday, March 4th. UBS Group raised their target price on Progressive from $159.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods increased their price objective on Progressive from $185.00 to $190.00 and gave the stock a “market perform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Progressive has a consensus rating of “Hold” and a consensus price target of $181.39.

Check Out Our Latest Stock Analysis on Progressive

Progressive Price Performance

Shares of NYSE PGR opened at $205.49 on Monday. Progressive has a 1-year low of $111.41 and a 1-year high of $207.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The business’s fifty day moving average price is $185.07 and its two-hundred day moving average price is $164.53. The firm has a market capitalization of $120.35 billion, a PE ratio of 31.23, a P/E/G ratio of 0.97 and a beta of 0.34.

Progressive (NYSE:PGRGet Free Report) last issued its earnings results on Wednesday, January 24th. The insurance provider reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.53. The firm had revenue of $16.89 billion for the quarter, compared to analyst estimates of $16.10 billion. Progressive had a return on equity of 21.25% and a net margin of 6.28%. During the same period last year, the company earned $1.52 earnings per share. On average, research analysts expect that Progressive will post 9.37 EPS for the current year.

Insider Activity

In other news, insider Andrew J. Quigg sold 1,210 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $162.26, for a total transaction of $196,334.60. Following the sale, the insider now owns 27,247 shares of the company’s stock, valued at $4,421,098.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Andrew J. Quigg sold 1,210 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $162.26, for a total value of $196,334.60. Following the sale, the insider now directly owns 27,247 shares of the company’s stock, valued at approximately $4,421,098.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the transaction, the insider now directly owns 32,342 shares in the company, valued at $6,128,485.58. The disclosure for this sale can be found here. Insiders sold a total of 58,949 shares of company stock valued at $10,671,740 in the last ninety days. 0.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sachetta LLC bought a new position in shares of Progressive during the fourth quarter worth approximately $25,000. Northwest Bank & Trust Co acquired a new stake in shares of Progressive during the 4th quarter worth approximately $25,000. Harbour Investments Inc. boosted its position in shares of Progressive by 109.1% during the 3rd quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 108 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Progressive by 143.6% during the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 112 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Progressive during the 1st quarter worth approximately $31,000. 83.66% of the stock is 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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