Progressive Corporation (The) with ticker code (PGR) have now 15 market analysts covering the stock. The analyst consensus now points to a rating of ‘Hold’. The target price High/Low ranges between 177 and 111 suggesting an average Analsyt target price of $149.13. Given that the stocks previous close was at $140.43 this now indicates there is a potential upside of 6.2%. Also worth taking note is the 50 day moving average now sits at $138.34 and the 200 day MA is $126.82. The total market capitalization for the company now stands at $82,612m. Company Website: https://www.progressive.com
The potential market cap would be $87,730m based on the market consensus.
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment’s products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, garbage/debris removal, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses; as well as non-fleet and airport taxis, and black-car services. The Property segment writes residential property insurance for homeowners, other property owners, and renters, as well as offers manufactured homes, personal umbrella insurance, and primary and excess flood insurance. The company offers policy issuance and claims adjusting services; and acts as an agent to homeowners, general liability, workers’ compensation insurance, and other products. It also provides reinsurance services. The company sells its products through independent insurance agencies, as well as through mobile applications and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.
The company has a dividend yield of 0.29% with the ex dividend date set at 5-4-2023 (DMY).
Other points of data to note are a P/E ratio of 116.63, revenue per share of 84.85 and a 1.18% return on assets.
