Progressive (NYSE:PGR) had its target price upped by Citigroup from $65.00 to $70.00 in a research report report published on Friday morning. They currently have a neutral rating on the insurance provider’s stock.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Co set a $64.00 price target on Progressive and gave the stock a hold rating in a research note on Thursday, September 13th. ValuEngine raised Progressive from a hold rating to a buy rating in a research note on Tuesday, September 4th. MKM Partners upped their price target on Progressive to $80.00 and gave the stock a buy rating in a research note on Friday. Keefe, Bruyette & Woods reaffirmed a market perform rating on shares of Progressive in a research note on Thursday, May 31st. Finally, B. Riley upped their price target on Progressive from $60.00 to $68.00 and gave the stock a neutral rating in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $63.07.

PGR opened at $68.53 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.43 and a current ratio of 0.43. Progressive has a 52-week low of $45.90 and a 52-week high of $69.01. The company has a market cap of $39.82 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.07 and a beta of 0.70.

Progressive (NYSE:PGR) last posted its earnings results on Tuesday, July 17th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.11. Progressive had a return on equity of 21.84% and a net margin of 7.57%. The firm had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year. equities analysts anticipate that Progressive will post 4.5 EPS for the current year.

In other Progressive news, CEO Susan Patricia Griffith sold 12,600 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $64.14, for a total value of $808,164.00. Following the sale, the chief executive officer now directly owns 265,856 shares of the company’s stock, valued at $17,052,003.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Jo Murphy sold 7,503 shares of the business’s stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $60.28, for a total value of $452,280.84. Following the completion of the sale, the insider now directly owns 41,722 shares in the company, valued at $2,515,002.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,103 shares of company stock worth $6,088,405. 0.70% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC bought a new stake in Progressive in the first quarter worth $122,000. Trust Co. of Vermont boosted its holdings in Progressive by 82.4% in the second quarter. Trust Co. of Vermont now owns 2,006 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 906 shares in the last quarter. Cerebellum GP LLC bought a new stake in Progressive in the second quarter worth $168,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Progressive by 8,571.8% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,382 shares of the insurance provider’s stock worth $200,000 after acquiring an additional 3,343 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Progressive by 114.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,404 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 1,819 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

About Progressive

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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