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

Progressive (PGR) Receives a Sell from Wells Fargo

Wells Fargo analyst Elyse Greenspan maintained a Sell rating on Progressive (PGRResearch Report) on June 10. The company’s shares closed last Tuesday at $112.23.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 10.8% and a 56.9% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and W. R. Berkley Corporation.

The word on The Street in general, suggests a Hold analyst consensus rating for Progressive with a $111.67 average price target.

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Based on Progressive’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $11.84 billion and net profit of $314 million. In comparison, last year the company earned revenue of $11.44 billion and had a net profit of $1.48 billion.

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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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