Progressive (PGR) Receives a Hold from Wells Fargo


Wells Fargo analyst Elyse Greenspan maintained a Hold rating on Progressive (PGR) today. The company’s shares closed last Monday at $70.94.

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 5.3% and a 64.2% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and United Insurance Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Progressive with a $84.56 average price target, a 22.3% upside from current levels. In a report issued on December 6, Buckingham also reiterated a Hold rating on the stock with a $72.00 price target.

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Progressive’s market cap is currently $42.59B and has a P/E ratio of 13.61. The company has a Price to Book ratio of 3.12.

Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PGR in relation to earlier this year.

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.

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