TipRanksStock Market NewsPGR NewsProgressive (PGR) Gets a Sell Rating from Wells Fargo

Progressive (PGR) Gets a Sell Rating from Wells Fargo

In a report released today, Elyse Greenspan from Wells Fargo maintained a Sell rating on Progressive (PGRResearch Report), with a price target of $98.00. The company’s shares closed last Wednesday at $114.75.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 11.0% and a 58.1% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, United Insurance Holdings, and W. R. Berkley Corporation.

The word on The Street in general, suggests a Hold analyst consensus rating for Progressive with a $117.38 average price target, representing a 3.3% upside. In a report issued on July 27, Citigroup also maintained a Sell rating on the stock with a $98.00 price target.

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Progressive’s market cap is currently $66.2B and has a P/E ratio of 80.65.

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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.

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