Keefe Bruyette & Woods Upgrades Progressive Corp to Market Perform with Price Target $31.00

Brokerage firm Keefe Bruyette & Woods Upgrades its rating on Progressive Corp(NYSE:PGR). In a research note issued to the investors, the brokerage major Raises the price-target to $31.00 per share. The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Keefe Bruyette & Woods was issued on Sep 16, 2016.

Progressive Corp (PGR) made into the market gainers list on Thursdays trading session with the shares advancing 0.26% or 0.08 points. Due to strong positive momentum, the stock ended at $31.27, which is also near the day’s high of $31.37. The stock began the session at $31.25 and the volume stood at 30,88,143 shares. The 52-week high of the shares is $35.5399 and the 52 week low is $29.315. The company has a current market capitalization of $18,197 M and it has 58,19,15,710 shares in outstanding.

Progressive Corp(PGR) last announced its earnings results on Jul 14, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.56B. Analysts had an estimated revenue of $5.73B. Earnings per share were $0.33. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On Sep 6, 2016, M Jeffrey Charney (Chief Marketing Officer) sold 7,000 shares at $32.50 per share price.Also, On Jul 20, 2016, John A Barbagallo (Commercial Lines Grp President) sold 24,000 shares at $33.01 per share price.On Jul 18, 2016, Steven Broz (Chief Information Officer) sold 2,500 shares at $33.17 per share price, according to the Form-4 filing with the securities and exchange commission.

The Progressive Corporation is an insurance holding company. The Company’s 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 Company’s 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.

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