Progressive (NYSE:PGR) had its price objective decreased by Buckingham Research from $78.00 to $72.00 in a research note published on Friday, AnalystRatings.com reports. Buckingham Research currently has a neutral rating on the insurance provider’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Co reiterated a hold rating and issued a $76.00 price objective on shares of Progressive in a research report on Thursday, November 7th. Goldman Sachs Group downgraded shares of Progressive from a buy rating to a neutral rating in a report on Wednesday, November 27th. Evercore ISI initiated coverage on shares of Progressive in a report on Thursday, October 17th. They set an in-line rating and a $78.00 target price on the stock. Credit Suisse Group cut their price target on shares of Progressive from $90.00 to $85.00 and set an outperform rating on the stock in a research note on Friday, October 18th. Finally, Barclays set a $90.00 price target on shares of Progressive and gave the company a buy rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $82.00.

PGR stock traded up $0.54 during midday trading on Friday, hitting $72.98. 2,921,275 shares of the company’s stock were exchanged, compared to its average volume of 3,103,310. The stock’s fifty day moving average price is $71.16 and its 200-day moving average price is $76.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $42.67 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.87 and a beta of 0.66. Progressive has a one year low of $56.71 and a one year high of $84.96.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Wednesday, November 13th. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.03. Progressive had a return on equity of 26.09% and a net margin of 8.69%. On average, analysts expect that Progressive will post 5.32 EPS for the current year.

In other news, insider Steven Broz sold 5,000 shares of Progressive stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $70.84, for a total value of $354,200.00. Following the sale, the insider now directly owns 25,295 shares in the company, valued at $1,791,897.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Susan Patricia Griffith sold 22,614 shares of Progressive stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $71.99, for a total transaction of $1,627,981.86. Following the completion of the sale, the chief executive officer now owns 376,308 shares in the company, valued at $27,090,412.92. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Weatherly Asset Management L. P. grew its stake in shares of Progressive by 3.1% in the second quarter. Weatherly Asset Management L. P. now owns 4,361 shares of the insurance provider’s stock valued at $349,000 after buying an additional 131 shares in the last quarter. TRUE Private Wealth Advisors lifted its stake in Progressive by 3.5% in the second quarter. TRUE Private Wealth Advisors now owns 4,254 shares of the insurance provider’s stock valued at $340,000 after acquiring an additional 144 shares during the last quarter. Eukles Asset Management grew its position in shares of Progressive by 2.2% in the 3rd quarter. Eukles Asset Management now owns 7,253 shares of the insurance provider’s stock valued at $560,000 after acquiring an additional 155 shares during the period. Parallel Advisors LLC grew its position in shares of Progressive by 8.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,259 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 168 shares during the period. Finally, Scott & Selber Inc. increased its stake in shares of Progressive by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 31,478 shares of the insurance provider’s stock worth $2,432,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 78.39% of the company’s stock.

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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Analyst Recommendations for Progressive (NYSE:PGR)

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