Progressive Corp (PGR) was Reiterated by Deutsche Bank to “Sell” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $30 . Deutsche Bank advised their investors in a research report released on Sep 19, 2016.
Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Sep 16, 2016.
On the company’s financial health, Progressive Corp reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.32. The company had revenue of $5934.60 million for the quarter, compared to analysts expectations of $5822.68 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
Progressive Corp opened for trading at $31.06 and hit $31.44 on the upside on Friday, eventually ending the session at $31.13, with a gain of 0.13% or 0.04 points. The heightened volatility saw the trading volume jump to 6,606,314 shares. Company has a market cap of $18,115 M.
In a different news, on Sep 6, 2016, M Jeffrey Charney (Chief Marketing Officer) sold 7,000 shares at $32.50 per share price. According to the SEC, 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 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.