Progressive Corporation (The) (NYSE:PGR) has earned a consensus rating of “Hold” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.25.

PGR has been the subject of a number of analyst reports. UBS AG cut their price objective on shares of Progressive Corporation (The) from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, September 19th. ValuEngine upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $48.00 price objective on shares of Progressive Corporation (The) in a research report on Tuesday, July 25th.

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Shares of Progressive Corporation (PGR) opened at $51.55 on Monday. Progressive Corporation has a 12-month low of $32.77 and a 12-month high of $52.08. The company has a market cap of $29,981.48, a price-to-earnings ratio of 22.51, a P/E/G ratio of 2.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50.

Progressive Corporation (The) (NYSE:PGR) last released its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.04 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. Progressive Corporation (The)’s revenue for the quarter was up 18.1% on a year-over-year basis. equities analysts forecast that Progressive Corporation will post 2.36 earnings per share for the current year.

In other news, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the transaction, the insider now directly owns 70,965 shares of the company’s stock, valued at approximately $3,422,641.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO M Jeffrey Charney sold 6,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total transaction of $297,000.00. Following the completion of the sale, the chief marketing officer now directly owns 102,038 shares in the company, valued at $5,050,881. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,250 shares of company stock worth $1,085,383. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PGR. Janus Henderson Group PLC grew its stake in Progressive Corporation (The) by 8,999.0% in the 2nd quarter. Janus Henderson Group PLC now owns 6,472,777 shares of the insurance provider’s stock valued at $285,384,000 after acquiring an additional 6,401,640 shares during the last quarter. William Blair Investment Management LLC grew its stake in Progressive Corporation (The) by 24,360.1% in the 2nd quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock valued at $211,591,000 after acquiring an additional 4,779,442 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Progressive Corporation (The) by 40.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock valued at $510,843,000 after acquiring an additional 3,332,180 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Progressive Corporation (The) by 55.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,492,446 shares of the insurance provider’s stock valued at $362,783,000 after acquiring an additional 2,687,224 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Progressive Corporation (The) by 49.2% in the 3rd quarter. Wells Fargo & Company MN now owns 6,780,314 shares of the insurance provider’s stock valued at $328,303,000 after acquiring an additional 2,234,425 shares during the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Corporation (The) 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 the Personal Lines, Commercial Lines and Property segments.

Analyst Recommendations for Progressive Corporation (The) (NYSE:PGR)

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