Progressive Corp. (NYSE:PGR) had its price target trimmed by Deutsche Bank AG from $30.00 to $28.00 in a report released on Monday. The firm currently has a sell rating on the stock.

Several other brokerages have also recently issued reports on PGR. Citigroup Inc. cut Progressive Corp. from a neutral rating to a sell rating and dropped their target price for the stock from $36.00 to $31.00 in a research report on Thursday, June 2nd. Argus reissued a hold rating and issued a $33.00 target price on shares of Progressive Corp. in a research report on Monday, July 18th. Credit Suisse Group AG set a $28.00 target price on Progressive Corp. and gave the stock a sell rating in a research report on Tuesday, August 23rd. Zacks Investment Research cut Progressive Corp. from a hold rating to a sell rating in a research report on Wednesday, August 3rd. Finally, MKM Partners reaffirmed a buy rating and set a $40.00 price objective on shares of Progressive Corp. in a research report on Thursday, June 23rd. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Progressive Corp. presently has a consensus rating of Hold and a consensus target price of $32.16.

Progressive Corp. (NYSE:PGR) opened at 31.19 on Monday. Progressive Corp. has a 52-week low of $29.32 and a 52-week high of $35.54. The company has a market capitalization of $18.15 billion, a PE ratio of 17.33 and a beta of 0.75. The company has a 50 day moving average of $32.54 and a 200 day moving average of $33.07.

Progressive Corp. (NYSE:PGR) last announced its earnings results on Thursday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.01. The firm earned $5.93 billion during the quarter. Progressive Corp. had a return on equity of 13.57% and a net margin of 4.80%. The business’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. On average, equities research analysts forecast that Progressive Corp. will post $1.61 earnings per share for the current fiscal year.

In other Progressive Corp. news, insider M Jeffrey Charney sold 7,000 shares of Progressive Corp. stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $32.50, for a total value of $227,500.00. Following the sale, the insider now owns 71,961 shares of the company’s stock, valued at approximately $2,338,732.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John A. Barbagallo sold 24,000 shares of Progressive Corp. stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $33.01, for a total value of $792,240.00. Following the completion of the sale, the insider now directly owns 148,139 shares in the company, valued at approximately $4,890,068.39. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in PGR. Wetherby Asset Management Inc. increased its stake in Progressive Corp. by 0.9% in the second quarter. Wetherby Asset Management Inc. now owns 11,254 shares of the company’s stock worth $377,000 after buying an additional 101 shares during the last quarter. Conning Inc. increased its stake in Progressive Corp. by 1.5% in the second quarter. Conning Inc. now owns 13,607 shares of the company’s stock worth $456,000 after buying an additional 200 shares during the last quarter. Advisor Partners LLC increased its stake in Progressive Corp. by 2.7% in the first quarter. Advisor Partners LLC now owns 7,968 shares of the company’s stock worth $280,000 after buying an additional 206 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Progressive Corp. by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,762 shares of the company’s stock worth $445,000 after buying an additional 228 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Progressive Corp. by 0.4% in the second quarter. World Asset Management Inc now owns 59,810 shares of the company’s stock worth $2,004,000 after buying an additional 233 shares during the last quarter. 76.53% of the stock is currently owned by institutional investors and hedge funds.

Progressive Corp. 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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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