CFRA analyst Catherine Seifert upgrades $Progressive (PGR.US)$ to a buy rating, and adjusts the target price from $245 to $290.
According to TipRanks data, the analyst has a success rate of 81.4% and a total average return of 17.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Progressive (PGR.US)$'s main analysts recently are as follows:
Progressive has observed an addition of 394,000 personal auto policies in September, marking a 1.8% increase from the previous month. Over the last seven months, the company has consistently shown an average growth of 1.9% in policy count per month. It is anticipated that the growth in personal auto policy count could exceed 20% by 2024.
Progressive's September earnings surpassed expectations, attributed to a rise in organic policy count PIF growth coupled with increased investment yields.
Progressive has experienced another month of robust growth and margins, with the growth of policies in force surpassing consensus expectations. With an 89.1% year-to-date combined ratio that has endured despite losses from Hurricanes Helene and Milton, Progressive is well-positioned for the remainder of the year.
Note:
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