Wells Fargo Sticks to Their Sell Rating for Progressive (PGR)

In a report released today, Elyse Greenspan from Wells Fargo reiterated a Sell rating on Progressive (PGRResearch Report), with a price target of $100.00. The company’s shares opened today at $122.49.

Greenspan covers the Financial sector, focusing on stocks such as Allstate, Progressive, and Voya Financial. According to TipRanks, Greenspan has an average return of 12.5% and a 62.88% success rate on recommended stocks.

In addition to Wells Fargo, Progressive also received a Sell from Citigroup’s Michael Ward CFA in a report issued on August 15. However, today, Evercore ISI maintained a Buy rating on Progressive (NYSE: PGR).

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PGR market cap is currently $71.65B and has a P/E ratio of 87.27.

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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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