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Deutsche Bank covered Progressive (NYSE:PGR), lowering its stock price target to $28.00 today

Progressive (NYSE:PGR) had its estimated target price lowered to $28 by Deutsche Bank in an issued report released 9/19/2016. The latest target price implies a potential downside of -0.10% based on the company’s previous closing price.

Only yesterday Progressive (NYSE:PGR) traded 0.90% lower at $31.13. Progressive’s 50-day moving average is $32.81 and its two hundred day moving average is $33.15. The last close is down 6.94% from the 200-day moving average, compared with the S&P 500 Index which has fallen -0.01% over the same time. 1,316,354 shares of PGR traded hands, down from ann average trading volume of 2,589,950.

Performance Chart:

Progressive (NYSE:PGR)

Progressive has a P/E of 17 with a 52 week low of $29.32 and a 52 week high of $35.54. The company’s total market value is presently $0.0.

In addition to Deutsche Bank reporting it’s price target, a total of 19 analysts have issued a research note on Progressive. The one year target is $32.79 with two firms rating the stock a strong buy, four firms rating the stock a buy, 12 analyts rating the stock a hold, six analysts rating the company to underperform, and finally 0 analystsrating the stock as sell.

General Information About 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 Personal Lines, Commercial Lines and Property segments. The Company operates its vehicle businesses and property business in the United States. It also sells personal auto physical damage and auto property damage liability insurance in Australia. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. Its 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. Its Property business writes homeowners and renters insurance, and primarily in the Agency channel in over 31 states and the District of Columbia.

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