In a report released yesterday, Michael Zaremski from Credit Suisse maintained a Buy rating on Progressive (PGR), with a price target of $73. The company’s shares closed yesterday at $58.23.
According to TipRanks.com, Zaremski is a 3-star analyst with an average return of 1.4% and a 55.6% success rate. Zaremski covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Selective Insurance Group, and Travelers Companies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Progressive with a $74 average price target.
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Progressive’s market cap is currently $33.95B and has a P/E ratio of 11.74. The company has a Price to Book ratio of 2.99.
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Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.
