Progressive (NYSE:PGR) PT Raised to $218.00 at UBS Group

Progressive (NYSE:PGR) had its price objective boosted by equities research analysts at UBS Group from $216.00 to $218.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. UBS Group’s price target suggests a potential upside of 3.93% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. TD Cowen began coverage on Progressive in a research report on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price target on the stock. HSBC boosted their price target on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price target on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets upped their target price on Progressive from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $211.88.

Progressive Stock Up 0.3 %

NYSE PGR opened at $209.75 on Wednesday. The stock has a fifty day moving average of $199.28 and a 200-day moving average of $174.57. The stock has a market capitalization of $122.85 billion, a P/E ratio of 21.47, a price-to-earnings-growth ratio of 0.84 and a beta of 0.35. Progressive has a 52 week low of $111.41 and a 52 week high of $212.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.36.

Progressive (NYSE:PGR) last announced its quarterly earnings data on Friday, April 12th. The insurance provider reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. The business had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts forecast that Progressive will post 11.09 EPS for the current year.

Insiders Place Their Bets

In other Progressive news, insider Karen Bailo sold 8,464 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the completion of the sale, the insider now directly owns 32,342 shares in the company, valued at approximately $6,128,485.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Patrick K. Callahan sold 29,675 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $190.26, for a total transaction of $5,645,965.50. Following the transaction, the insider now owns 15,189 shares of the company’s stock, valued at approximately $2,889,859.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total transaction of $1,603,843.36. Following the transaction, the insider now directly owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Progressive

Large investors have recently added to or reduced their stakes in the business. Sachetta LLC purchased a new stake in shares of Progressive during the 4th quarter worth approximately $25,000. Northwest Bank & Trust Co purchased a new stake in shares of Progressive during the 4th quarter worth approximately $25,000. Harbour Investments Inc. increased its stake in shares of Progressive by 109.1% during the 3rd quarter. Harbour Investments Inc. now owns 207 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 108 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of Progressive by 143.6% during the 4th quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 112 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Progressive during the 1st quarter worth approximately $31,000. Institutional investors own 85.34% of the company’s stock.

About Progressive

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.