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Bank of America (Merrill Lynch) upgraded Progressive (NYSE:PGR) from Neutral to Buy in a report released today.

Bank of America (Merrill Lynch) has upgraded Progressive (NYSE:PGR) from Neutral to Buy in a report released on 03/20/2017.

Previously on 1/17/2017, Zacks Investment Research released a statement about Progressive (NYSE:PGR) increased the target price from $0.00 to $41.00. At the time, this indicated a possible upside of 0.13%.

Just yesterday Progressive (NYSE:PGR) traded 0.47% higher at $40.00. Progressive’s 50-day moving average is $38.60 and its 200-day moving average is $34.63. The last stock price is up 16.95% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has increased 0.04% over the same time period. 298,741 shares of PGR traded hands, down from an average trading volume of 2,611,070

Recent Performance Chart

Progressive (NYSE:PGR)

Progressive has 52 week low of $30.54 and a 52 week high of $40.72 with a PE ratio of 23.01 and has a market capitalization of $0.

In addition to Bank of America (Merrill Lynch) reporting its stock price target, a total of 19 brokerages have issued a ratings update on the company. The average stock price target is $32.79 with 2 brokerages rating the stock a strong buy, 4 brokerages rating the stock a buy, 12 brokerages rating the stock a hold, 6 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.

Brief Synopsis On Progressive (NYSE:PGR)

The Progressive Corporation is an insurance holding company. The Company's insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments. The Company's Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. The Commercial Lines business writes primary liability, physical damage and other auto-related insurance for automobiles and trucks owned and/or operated predominately by small businesses as a part of the commercial auto market. ASI is a homeowner carrier in the United States, which specializes in personal and commercial property insurance, personal umbrella insurance, and primary and excess flood insurance. The Company's service business includes Commercial Auto Insurance Procedures/Plans (CAIP) and Commission-based businesses.

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