Progressive (PGR) PT Raised to $70.00
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.
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.
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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