Progressive Corporation (The) (NYSE:PGR) : 16 analysts are covering Progressive Corporation (The) (NYSE:PGR) and their average rating on the stock is 2.83, which is read as a Hold. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Progressive Corporation (The) (NYSE:PGR) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 3 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Progressive Corporation (The) (NYSE:PGR) stock is expected to deviate a maximum of $3.26 from the average target price of $31.64 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $36 and the most muted being $27.
Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Citigroup downgrades the rating on Progressive Corporation (The) (NYSE:PGR). The brokerage firm has issued a Sell rating on the shares. The shares were previously rated Neutral. The Analysts at the ratings agency lowers the price target from $36 per share to $31 per share. The rating by the firm was issued on June 2, 2016.
Progressive Corporation (The) (NYSE:PGR): stock turned positive on Tuesday. Though the stock opened at $31.5, the bulls momentum made the stock top out at $31.97 level for the day. The stock recorded a low of $31.33 and closed the trading day at $31.97, in the green by 1.95%. The total traded volume for the day was 2,433,575. The stock had closed at $31.36 in the previous days trading.
In an insider trading activity, Charney M Jeffrey, officer (Chief Marketing Officer) of Progressive Corp/Oh/, unloaded 5,000 shares at an average price of $33.1 on May 24, 2016. The total amount of the transaction was worth $165,500, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
The Progressive Corporation is an insurance holding company. The Companys insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance, commercial auto and truck insurance principally for small businesses, and other specialty property-casualty insurance and related services. The Companys property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.