KBW Believes Progressive (NYSE: PGR) Won’t Stop Here

By Jason Carr

In a report issued on December 4, Meyer Shields from KBW reiterated a Buy rating on Progressive (NYSE: PGR), with a price target of $60. The company’s shares opened today at $54.59, close to its 52-week high of $54.75.

According to TipRanks.com, Shields is a 4-star analyst with an average return of 7.4% and a 72.1% success rate. Shields covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, Universal Insurance Holdings Inc, and Infinity Property and Casualty.

Progressive has an analyst consensus of Hold, with a price target consensus of $49.40.

The company has a one-year high of $54.75 and a one-year low of $33.42. Currently, Progressive has an average volume of 3.33M.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Progressive Corp. is specialized in insurance products primarily related to motor vehicles. It offers insurance solutions for personal and commercial property casualty. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.