In a report released yesterday, Meyer Shields from KBW maintained a Hold rating on Progressive (PGR – Research Report), with a price target of $207.00. The company’s shares closed yesterday at $209.25.
According to TipRanks, Shields is a 5-star analyst with an average return of 13.5% and a 73.99% success rate. Shields covers the Financial sector, focusing on stocks such as Progressive, Arch Capital Group, and Skyward Specialty Insurance Group, Inc..
Currently, the analyst consensus on Progressive is a Moderate Buy with an average price target of $228.38.
Based on Progressive’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $17.24 billion and a net profit of $2.33 billion. In comparison, last year the company earned a revenue of $14.3 billion and had a net profit of $447.9 million
Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PGR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Progressive (PGR) Company Description:
The Progressive Corporation is one of the leading auto insurers in the United States. The company also offers residential property insurance, reinsurance, and other specialty property-casualty insurance and related services. Its Personal Lines business unit covers insurance for personal automobiles, recreational and other vehicles. Under the Commercial Lines division, Progressive writes primary liability and physical damage insurance for automobiles owned by small businesses. Its Property segment offers residential property insurance for homeowners, renters and other property owners.
