KBW Reports That They Have Downgraded Progressive (NYSE:PGR) Shares

May 18, 2018 - By Margaret Downey

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 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.

Jpmorgan Chase And Company invested 0.12% of its portfolio in The Progressive Corporation (NYSE:PGR). The United Kingdom-based Barclays Public Llc has invested 0.03% in The Progressive Corporation (NYSE:PGR). Srb, a Massachusetts-based fund reported 3,640 shares. Riverhead Mngmt Ltd Company stated it has 43,503 shares. Nuveen Asset Management Limited Liability Company holds 0.01% or 14,542 shares. Putnam Invests Ltd Llc holds 7,501 shares or 0% of its portfolio. Samlyn Capital Limited Liability Co owns 755,610 shares for 0.98% of their portfolio. Canada Pension Plan Invest Board accumulated 420,763 shares. Ironwood Inv Management Limited Liability Com owns 11,542 shares for 0.46% of their portfolio. Lombard Odier Asset Management (Switzerland) reported 35,308 shares stake. Colony Gp Limited Liability reported 5,868 shares. Speece Thorson Capital Gru Incorporated holds 1.78% or 159,469 shares in its portfolio. Moreover, Laurion Cap Management Limited Partnership has 0.03% invested in The Progressive Corporation (NYSE:PGR). Pictet Asset Mngmt holds 330,272 shares. Bokf Na reported 156,215 shares.

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

Progressive (NYSE:PGR) Receives a Downgrade

KBW downgraded Progressive (NYSE:PGR) shares to a “Hold” rating in an analyst note issued to clients today.

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. UBS maintained The Progressive Corporation (NYSE:PGR) rating on Thursday, January 25. UBS has “Buy” rating and $64 target. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Wednesday, March 14. The rating was maintained by M Partners on Thursday, January 25 with “Buy”. On Tuesday, April 17 the stock rating was maintained by Sandler O’Neill with “Buy”. The stock has “Buy” rating by Keefe Bruyette & Woods on Tuesday, April 17. The firm has “Buy” rating by Sandler O’Neill given on Thursday, February 15. The company was maintained on Wednesday, February 14 by Keefe Bruyette & Woods. As per Monday, April 16, the company rating was maintained by FBR Capital. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, April 18. The stock has “Buy” rating by Sandler O’Neill on Thursday, March 1.

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 $489.19M 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: Seekingalpha.com which released: “Progressive Corporation 2018 Q1 – Results – Earnings Call Slides” on May 04, 2018, also Crainscleveland.com published article titled: “Progressive Corp. appoints its first female board chair”, Seekingalpha.com published: “Progressive’s Dashboard Report – March 2018 Update” on April 18, 2018. More interesting news about The Progressive Corporation (NYSE:PGR) was released by: Benzinga.com and their article: “Benzinga’s Top Upgrades, Downgrades For May 17, 2018” with publication date: May 17, 2018.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: