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Wells Fargo Keeps a Sell Rating on Progressive (PGR)

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In a report released today, Elyse Greenspan from Wells Fargo reiterated a Sell rating on Progressive (PGRResearch Report), with a price target of $96.00. The company’s shares closed last Tuesday at $111.34.

According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 10.5% and a 57.2% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and W. R. Berkley Corporation.

Currently, the analyst consensus on Progressive is a Hold with an average price target of $111.67.

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Progressive’s market cap is currently $64.08B and has a P/E ratio of 29.69.

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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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