Raymond James reiterated their buy rating on shares of The Progressive (NYSE:PGR) in a research note issued to investors on Monday morning, AnalystRatings.com reports.
PGR has been the subject of several other research reports. B. Riley upped their target price on shares of The Progressive from $88.00 to $96.00 and gave the stock a neutral rating in a report on Thursday, January 7th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of The Progressive from a buy rating to a neutral rating and dropped their target price for the stock from $102.00 to $96.00 in a report on Tuesday, December 8th. Smith Barney Citigroup downgraded shares of The Progressive from a buy rating to a neutral rating and dropped their target price for the stock from $102.00 to $96.00 in a report on Tuesday, December 8th. Barclays started coverage on shares of The Progressive in a report on Tuesday, November 17th. They issued an underweight rating and a $87.00 target price for the company. Finally, Zacks Investment Research downgraded shares of The Progressive from a hold rating to a sell rating and set a $92.00 price objective for the company. in a report on Thursday, January 28th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The Progressive currently has a consensus rating of Hold and a consensus target price of $96.00.
Shares of PGR opened at $87.79 on Monday. The firm has a market cap of $51.41 billion, a PE ratio of 10.20, a P/E/G ratio of 2.58 and a beta of 0.45. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $90.58 and a two-hundred day simple moving average of $93.15. The Progressive has a 1-year low of $62.18 and a 1-year high of $102.05.
The Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, January 26th. The insurance provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.68 by $0.15. The firm had revenue of $9.54 billion during the quarter, compared to analyst estimates of $10.32 billion. The Progressive had a return on equity of 28.89% and a net margin of 12.13%. The Progressive’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. As a group, research analysts forecast that The Progressive will post 7.4 EPS for the current fiscal year.
In related news, CMO M Jeffrey Charney sold 5,888 shares of The Progressive stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $97.44, for a total transaction of $573,726.72. Following the transaction, the chief marketing officer now directly owns 55,781 shares of the company’s stock, valued at $5,435,300.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel P. Mascaro sold 2,351 shares of The Progressive stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $86.17, for a total transaction of $202,585.67. Following the transaction, the insider now directly owns 35,050 shares in the company, valued at $3,020,258.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,467 shares of company stock worth $2,195,026. Corporate insiders own 0.38% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Tompkins Financial Corp purchased a new position in The Progressive during the fourth quarter valued at approximately $37,000. Diversified LLC acquired a new stake in The Progressive in the fourth quarter valued at approximately $41,000. Capital Directions Investment Advisors LLC boosted its stake in The Progressive by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 422 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 211 shares in the last quarter. HM Payson & Co. boosted its stake in The Progressive by 74.0% in the third quarter. HM Payson & Co. now owns 583 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 248 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in shares of The Progressive by 28.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 614 shares of the insurance provider’s stock worth $60,000 after buying an additional 135 shares during the period. 81.47% of the stock is currently owned by institutional investors.
The Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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