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Credit Suisse Maintains Their Buy Rating on Progressive (PGR)


In a report released today, Michael Zaremski from Credit Suisse maintained a Buy rating on Progressive (NYSE: PGR), with a price target of $79. The company’s shares opened today at $71.83, close to its 52-week high of $72.02.

According to TipRanks.com, Zaremski is a 3-star analyst with an average return of 6.3% and a 68.4% success rate. Zaremski covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Cincinnati Financial Corp, and Selective Insurance Group.

The word on The Street in general, suggests a Hold analyst consensus rating for Progressive with a $68.75 average price target, which is a -4.3% downside from current levels. In a report issued on September 26, MKM Partners also maintained a Buy rating on the stock with a $85 price target.

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The company has a one-year high of $72.02 and a one-year low of $47.89. Currently, Progressive has an average volume of 2.99M.

Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock.

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 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.