In a report released today, Paul Newsome from Piper Sandler maintained a Buy rating on Progressive (PGR – Research Report), with a price target of $240.00. The company’s shares closed last Thursday at $206.82.
According to TipRanks, Newsome is a 5-star analyst with an average return of 12.1% and a 71.39% success rate. Newsome covers the Financial sector, focusing on stocks such as Chubb, Allstate, and American International Group.
In addition to Piper Sandler, Progressive also received a Buy from Bank of America Securities’s Joshua Shanker in a report issued on March 28. However, on the same day, HSBC maintained a Hold rating on Progressive (NYSE: PGR).
The company has a one-year high of $208.19 and a one-year low of $110.77. Currently, Progressive has an average volume of 2.51M.
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Progressive (PGR) Company Description:
The Progressive Corporation is one of the leading auto insurers in the United States. The company also offers residential property insurance, reinsurance, and other specialty property-casualty insurance and related services. Its Personal Lines business unit covers insurance for personal automobiles, recreational and other vehicles. Under the Commercial Lines division, Progressive writes primary liability and physical damage insurance for automobiles owned by small businesses. Its Property segment offers residential property insurance for homeowners, renters and other property owners.
Read More on PGR:
- Progressive price target raised to $200 from $174 at HSBC
- Progressive price target raised to $190 from $185 at Keefe Bruyette
- Progressive price target raised to $235 from $215 at Roth MKM
- Progressive price target raised to $202 from $192 at Citi
- Progressive reported ‘excellent’ underwriting results, says Roth MKM
