Wells Fargo Keeps a Hold Rating on Progressive (PGR)

In a report released yesterday, Elyse Greenspan from Wells Fargo maintained a Hold rating on Progressive (PGR), with a price target of $81. The company’s shares closed last Monday at $75.58.

Greenspan commented:

“We are increasing our 2019 EPS estimate to $5.50 from $5.45 to reflect the earnings beat, partially offset by lower premium growth. We are lowering our 2020 EPS estimate to $5.70 from $5.75 and we are maintaining our 2021 EPS estimate of $6.10. Our price target is unchanged at $81. The shares traded down today likely as the slowdown in premium written more than overshadowed the EPS beat.”

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 4.0% and a 59.2% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.

Progressive has an analyst consensus of Strong Buy, with a price target consensus of $86.14.

See today’s analyst top recommended stocks >>

The company has a one-year high of $84.96 and a one-year low of $56.71. Currently, Progressive has an average volume of 2.76M.

Based on the recent corporate insider activity of 110 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts