Analysts at Buckingham Maintained their Past ‘Underperform’ rating on Shares Progressive (NYSE:PGR), Set a $52 Price Objective

May 17, 2018 - By Robert Crowder

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Investors sentiment increased to 1.17 in Q4 2017. Its up 0.10, from 1.07 in 2017Q3. It improved, as 32 investors sold The Progressive Corporation shares while 198 reduced holdings. 81 funds opened positions while 189 raised stakes. 453.53 million shares or 1.27% more from 447.86 million shares in 2017Q3 were reported.

Victory Cap reported 1.91M shares. Cookson Peirce owns 149,570 shares. Eqis Cap Incorporated stated it has 9,629 shares. Tiaa Cref Ltd Llc invested 0.26% of its portfolio in The Progressive Corporation (NYSE:PGR). Cornerstone Ltd Liability Com invested 0.26% of its portfolio in The Progressive Corporation (NYSE:PGR). Tci Wealth Advsr reported 235 shares. Private Ocean Ltd Com holds 66 shares or 0% of its portfolio. Pacad Limited stated it has 0.14% of its portfolio in The Progressive Corporation (NYSE:PGR). Mcf Advsrs Limited Com reported 500 shares. Calamos Advsr Limited Liability accumulated 5,050 shares. Advantus Capital Management Inc invested 0.08% in The Progressive Corporation (NYSE:PGR). Connor Clark Lunn Management invested 0.09% of its portfolio in The Progressive Corporation (NYSE:PGR). 2.91 million are owned by Clearbridge Lc. Central stated it has 1.44% of its portfolio in The Progressive Corporation (NYSE:PGR). Indexiq Advsrs Ltd Limited Liability Company accumulated 0.04% or 19,647 shares.

Since April 25, 2018, it had 0 buys, and 1 sale for $121,236 activity.

Progressive (NYSE:PGR) Rating Reaffirmed

The financial company has just set a price target of $52 on Progressive (NYSE:PGR) shares. This is -13.85 % from the stock close price. In an analyst note released on Thursday morning, Buckingham restate their Underperform rating on shares of PGR.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 10 analysts covering Progressive (NYSE:PGR), 6 have Buy rating, 0 Sell and 4 Hold. Therefore 60% are positive. Progressive has $6900 highest and $48.0 lowest target. $60.56’s average target is 0.33% above currents $60.36 stock price. Progressive had 16 analyst reports since December 4, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Thursday, March 1 by Sandler O’Neill. Sandler O’Neill maintained The Progressive Corporation (NYSE:PGR) rating on Wednesday, March 14. Sandler O’Neill has “Buy” rating and $68.0 target. The stock of The Progressive Corporation (NYSE:PGR) has “Hold” rating given on Monday, April 16 by FBR Capital. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Wednesday, February 14. Keefe Bruyette & Woods maintained The Progressive Corporation (NYSE:PGR) on Monday, December 4 with “Buy” rating. M Partners maintained the shares of PGR in report on Thursday, January 25 with “Buy” rating. The stock of The Progressive Corporation (NYSE:PGR) has “Buy” rating given on Wednesday, March 14 by Keefe Bruyette & Woods. The company was maintained on Wednesday, April 18 by Morgan Stanley. Sandler O’Neill maintained the stock with “Buy” rating in Thursday, February 15 report. On Thursday, January 25 the stock rating was maintained by UBS with “Buy”.

The stock decreased 2.03% or $1.25 during the last trading session, reaching $60.36. About 3.64M shares traded or 19.96% up from the average. The Progressive Corporation (NYSE:PGR) has risen 52.71% since May 18, 2017 and is uptrending. It has outperformed by 41.16% the S&P500.

Analysts await The Progressive Corporation (NYSE:PGR) to report earnings on July, 17. They expect $0.84 earnings per share, up 42.37 % or $0.25 from last year’s $0.59 per share. PGR’s profit will be $489.19 million for 17.96 P/E if the $0.84 EPS becomes a reality. After $1.22 actual earnings per share reported by The Progressive Corporation for the previous quarter, Wall Street now forecasts -31.15 % negative EPS growth.

The Progressive Corporation, through its subsidiaries, provides personal and commercial property-casualty insurance, and other specialty property-casualty insurance and related services primarily in the United States. The company has market cap of $35.15 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 22.19 P/E ratio. This segmentÂ’s products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, mobile homes, watercraft, and snowmobiles.

More important recent The Progressive Corporation (NYSE:PGR) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” on May 17, 2018, also Seekingalpha.com published article titled: “Progressive’s Dashboard Report – March 2018 Update”, Crainscleveland.com published: “Progressive Corp. appoints its first female board chair” on May 14, 2018. More interesting news about The Progressive Corporation (NYSE:PGR) was released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: AIG, Baxter, Cisco, Eiger Bio, Energy Transfer, Juniper, NOV, Phillips 66 …” with publication date: May 17, 2018.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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