What Will The Effects of a Keefe Bruyette Downgrade Be For Progressive (NYSE:PGR) Shares?

May 17, 2018 - By Paula Hilliard

The Progressive Corporation (NYSE:PGR) Logo

Investors sentiment increased to 1.17 in 2017 Q4. Its up 0.10, from 1.07 in 2017Q3. It is positive, 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.

Ngam Advisors L P holds 0.13% of its portfolio in The Progressive Corporation (NYSE:PGR) for 233,423 shares. State Of Tennessee Treasury Department stated it has 0.15% in The Progressive Corporation (NYSE:PGR). Segall Bryant & Hamill Limited Liability Corporation holds 0.16% or 131,557 shares in its portfolio. Virginia-based Bb&T Secs Limited Liability has invested 0% in The Progressive Corporation (NYSE:PGR). Dupont Cap holds 0% or 2,458 shares in its portfolio. Mitsubishi Ufj Secs Holdings accumulated 600 shares. Etrade Cap Management Ltd Llc has 39,109 shares. Shelton Cap Mgmt invested in 4,123 shares or 0.01% of the stock. Pacad Invest holds 0.14% or 10,758 shares in its portfolio. Next Century Growth Investors Limited Liability Com invested in 48,499 shares. First Interstate Bancshares, Montana-based fund reported 1,625 shares. Northern Tru reported 6.87M shares. Robeco Institutional Asset Bv owns 0.22% invested in The Progressive Corporation (NYSE:PGR) for 754,226 shares. Moreover, Boston Private Wealth Ltd Liability Corp has 0.1% invested in The Progressive Corporation (NYSE:PGR). Cortland Assoc Inc Mo accumulated 0.06% or 6,196 shares.

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

Progressive (NYSE:PGR) Receives a Downgrade

It appears that trading for shares of Progressive (NYSE:PGR) will be interesting to watch today. Keefe Bruyette downgraded the stock from their past Outperform rating to a more current Mkt Perform.

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 0.21% above currents $60.435 stock price. Progressive had 16 analyst reports since December 4, 2017 according to SRatingsIntel. Keefe Bruyette & Woods maintained The Progressive Corporation (NYSE:PGR) on Wednesday, March 14 with “Buy” rating. Sandler O’Neill maintained the shares of PGR in report on Wednesday, March 14 with “Buy” rating. As per Thursday, January 25, the company rating was maintained by M Partners. Sandler O’Neill maintained The Progressive Corporation (NYSE:PGR) on Thursday, March 1 with “Buy” rating. The stock has “Buy” rating by UBS on Thursday, January 25. The company was maintained on Wednesday, April 18 by Morgan Stanley. As per Monday, April 16, the company rating was maintained by FBR Capital. The rating was maintained by Sandler O’Neill on Tuesday, April 17 with “Buy”. On Monday, December 4 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The company was maintained on Wednesday, February 14 by Keefe Bruyette & Woods.

The stock decreased 1.91% or $1.175 during the last trading session, reaching $60.435. About 2.14 million shares traded. The Progressive Corporation (NYSE:PGR) has risen 52.71% since May 17, 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 EPS, up 42.37 % or $0.25 from last year’s $0.59 per share. PGR’s profit will be $489.20 million for 17.99 P/E if the $0.84 EPS becomes a reality. After $1.22 actual EPS 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 $35.20 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 22.22 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”, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: AIG, Baxter, Cisco, Eiger Bio, Energy Transfer, Juniper, NOV, Phillips 66 …” on May 17, 2018. More interesting news about The Progressive Corporation (NYSE:PGR) was released by: Crainscleveland.com and their article: “Progressive Corp. appoints its first female board chair” with publication date: May 14, 2018.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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