(PGR) With Shares Trading up at $46.69 Progressive Launches HomeQuote Explorer

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Progressive Corporation (The) (NYSE:PGR):

Progressive Launches HomeQuote Explorer.

The company is up from yesterday’s close of $46.36.

The Progressive Corporation, launched on February 4, 1965, is an insurance holding company. The Business’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments. It also offers vehicle insurance products that protect its customers against losses due to collision and physical damage to their motor vehicles, uninsured and underinsured bodily injury, and liability to others for personal injury or property damage arising out of the use of those vehicles. The Business’s property insurance products protect its customers against losses due to damages to their structure or possessions within the structure, as well as liability for accidents occurring in the structure or on the property. Its non-insurance subsidiaries and affiliates generally support the Business’s insurance and investment operations. The Company operates its vehicle businesses and property business in the United States. The Company also sells personal auto physical damage and auto property damage liability insurance in Australia..

It is currently trading at $46.69 a tad above the 50 day moving average of $44.38 and marginally over the 200 day moving average of $40.36. The 50 day moving average moved up $2.26 and the 200 day average was up $6.28.

Progressive Corporation (The)’s P/E ratio is 19.845 and the market cap is 27.09B. In the last earnings report the EPS was $2.35 and is projected to be $2.40 for the current year with 581,000,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.64 and the next full year EPS is anticipated to be $2.64.

Ratings firms have provided guidance on PGR of late. On July 13 the company was upgraded from “Outperform” to “Strong Buy” by analysts at Raymond James. On May 18 the company was set at “Hold” by Deutsche Bank up from the previous “Sell” rating.

On October 14 the stock rating was upgraded to “Neutral” from “Sell” and a price target of $34.00 was set in a report issued by Citigroup. Citigroup upgraded the stock and raised the price target on October 14 changing the price target from $31.00 to $34.00 and altering the rating from “Sell” to “Neutral”.

On September 16 the company was upgraded from “” to “Sell” with a current price target of $31.00 by Keefe Bruyette & Woods. Equity analyst Citigroup both downgraded the stock and lowered the price target on June 2 cutting the price target from $32.00 to $31.00 and setting the rating at “Sell” which had previously been “Neutral”.


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