Price Target Update on Progressive Corporation (The) (NYSE:PGR)

Progressive Corporation (The) (NYSE:PGR) stock is expected to deviate a maximum of $3.46 from the average target price of $31.82 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.

Other Equity analysts have also commented on the company shares. Brokerage firm Citigroup downgrades its rating on Progressive Corporation (The) (NYSE:PGR). As per the latest information, the brokerage house lowers the price target to $31 per share from a prior target of $36. The shares have been rated Sell. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on June 2, 2016.

Progressive Corporation (The) (NYSE:PGR): stock turned positive on Thursday. Though the stock opened at $32.34, the bulls momentum made the stock top out at $32.49 level for the day. The stock recorded a low of $32.15 and closed the trading day at $32.49, in the green by 1.44%. The total traded volume for the day was 1,904,031. The stock had closed at $32.03 in the previous days trading.

The company shares have rallied 13.70% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $35.54 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $32.79 and the 200 Day Moving Average price is recorded at $32.40. On the companys insider trading activities, 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.

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