Progressive Corporation (The) (NYSE:PGR) had its price target increased by MKM Partners to $60.00 in a research report released on Thursday. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other brokerages have also recently issued reports on PGR. B. Riley reaffirmed a hold rating and set a $46.00 price objective on shares of Progressive Corporation (The) in a research note on Wednesday, November 15th. Wells Fargo & Company set a $50.00 price objective on shares of Progressive Corporation (The) and gave the company a hold rating in a research note on Wednesday, November 15th. ValuEngine lowered shares of Progressive Corporation (The) from a buy rating to a hold rating in a report on Tuesday, October 3rd. FBR & Co reiterated a hold rating on shares of Progressive Corporation (The) in a report on Tuesday, October 17th. Finally, Citigroup Inc. boosted their target price on shares of Progressive Corporation (The) from $49.00 to $50.00 and gave the company a neutral rating in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $47.76.

Shares of Progressive Corporation (NYSE PGR) opened at $51.55 on Thursday. Progressive Corporation has a one year low of $32.77 and a one year high of $52.08. The stock has a market cap of $29,981.48, a PE 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 quick ratio of 0.50 and a current ratio of 0.50.

Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (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 company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.04 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Progressive Corporation (The)’s revenue was up 18.1% compared to the same quarter last year. equities analysts expect that Progressive Corporation will post 2.36 earnings per share for the current year.

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In other Progressive Corporation (The) news, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 70,965 shares in the company, valued at approximately $3,422,641.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CMO M Jeffrey Charney sold 6,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total transaction of $297,000.00. Following the sale, the chief marketing officer now owns 102,038 shares in the company, valued at $5,050,881. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,250 shares of company stock worth $1,085,383. 0.56% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Coastline Trust Co acquired a new stake in Progressive Corporation (The) during the 3rd quarter worth approximately $271,000. Sterling Capital Management LLC lifted its holdings in Progressive Corporation (The) by 96.7% during the 3rd quarter. Sterling Capital Management LLC now owns 121,220 shares of the insurance provider’s stock worth $5,869,000 after buying an additional 59,580 shares in the last quarter. California Public Employees Retirement System lifted its holdings in Progressive Corporation (The) by 4.3% during the 3rd quarter. California Public Employees Retirement System now owns 1,481,329 shares of the insurance provider’s stock worth $71,726,000 after buying an additional 61,118 shares in the last quarter. Balentine LLC lifted its holdings in Progressive Corporation (The) by 3,273.0% during the 3rd quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Progressive Corporation (The) by 67.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 802,672 shares of the insurance provider’s stock worth $38,865,000 after buying an additional 324,140 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.

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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