Progressive Corporation (The) (PGR) has been rated by 11 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $36 and the lowest price target forecast is $27. The average forecast of all the analysts is $31.82 and the expected standard deviation is $3.03.
Progressive Corporation (The) (PGR) has shown a rise of 1.3% or 90,198 shares in the short positions. The bets have increased to 7,144,318 shares on June 30,2016 from 7,054,120 shares on June 15,2016. With respect to the floated shares, the shorts are 1.2%. The days to cover are calculated to be 2, using the standard per day volume of 2,925,857 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Progressive Corporation (The) (NYSE:PGR). Citigroup has a Sell rating on the shares. Previously, the analysts had a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $31 per share from a prior target of $36. 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 $33.64, the bulls momentum made the stock top out at $33.86 level for the day. The stock recorded a low of $33.25 and closed the trading day at $33.46, in the green by 0.57%. The total traded volume for the day was 4,122,351. The stock had closed at $33.27 in the previous days trading.
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.