Wells Fargo Sticks to Its Hold Rating for Progressive (PGR)

Wells Fargo analyst Elyse Greenspan maintained a Hold rating on Progressive (PGR) today and set a price target of $85.00. The company’s shares closed last Wednesday at $85.44.

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 3.3% and a 60.1% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and United Insurance Holdings.

Progressive has an analyst consensus of Moderate Buy, with a price target consensus of $91.25.

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The company has a one-year high of $84.51 and a one-year low of $62.18. Currently, Progressive has an average volume of 3.2M.

Based on the recent corporate insider activity of 81 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. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The Other Indemnity segment manages run-off businesses. The company was founded in 1965 and is headquartered in Mayfield Village, OH.

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