Progressive Corporation (The) with ticker code (PGR) now have 15 market analysts covering the stock. The analyst consensus now points to a “Hold” rating. The High/Low target price ranges between 177 and 111, suggesting an average price target for Analsyt of $149.13. Given that the stock’s previous close was $140.43, this now indicates a potential upside of 6.2%. It is also worth noting that the 50-day moving average is now $138.34 and the 200-day MA is $126.82. The company’s total market capitalization now stands at $82,612 million. Company website: https://www.progressive.com
The potential market cap would be $87,730 million based on market consensus.
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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 underwrites personal automobiles and recreational vehicles (RVs). The products of this segment include personal motor insurance; and specialty lines products including motorcycle, ATV, RV, watercraft, snowmobile and related products. The Commercial Lines segment provides auto liability and physical damage and business general liability and property insurance for automobiles, vans, pickup trucks and dump trucks used by small businesses; tractors, trailers and trucks used primarily by regional general freight and forwarder-type companies and long-haul operators; dump trucks, log trucks and refuse trucks used by dirt, sand and gravel, logging, rubbish/debris removal and coal plants; and tow trucks and breakers used in the towing services and gas/gas station business; as well as non-fleet taxis and airport taxis and black car services. The Property segment underwrites residential property insurance for homeowners, other property owners and renters, and offers manufactured homes, personal umbrella insurance and primary and supplemental flood insurance. The company offers policy issuance and claims adjustment services; and acts as an agent for 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 apps and over the phone. Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.
The company has a dividend yield of 0.29% with an ex-dividend date set at 5-4-2023 (DMY).
Other figures to note are a P/E ratio of 116.63, earnings per share of 84.85 and a 1.18% return on assets.