Fintel reports that on September 4, 2024, Barclays initiated coverage of Progressive (NYSE:PGR) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 0.59% Downside
As of August 25, 2024, the average one-year price target for Progressive is $252.42/share. The forecasts range from a low of $163.62 to a high of $308.70. The average price target represents a decrease of 0.59% from its latest reported closing price of $253.91 / share.
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The projected annual revenue for Progressive is 63,263MM, a decrease of 2.70%. The projected annual non-GAAP EPS is 7.54.
What is the Fund Sentiment?
There are 2,616 funds or institutions reporting positions in Progressive. This is an increase of 132 owner(s) or 5.31% in the last quarter. Average portfolio weight of all funds dedicated to PGR is 0.58%, an increase of 2.10%. Total shares owned by institutions increased in the last three months by 0.80% to 578,118K shares. 
The put/call ratio of PGR is 0.91, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,495K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 18,422K shares , representing an increase of 0.39%. The firm decreased its portfolio allocation in PGR by 1.95% over the last quarter.
Bank Of America holds 16,978K shares representing 2.90% ownership of the company. In its prior filing, the firm reported owning 17,169K shares , representing a decrease of 1.13%. The firm decreased its portfolio allocation in PGR by 6.35% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 15,032K shares representing 2.57% ownership of the company. In its prior filing, the firm reported owning 14,750K shares , representing an increase of 1.87%. The firm decreased its portfolio allocation in PGR by 3.11% over the last quarter.
Massachusetts Financial Services holds 14,447K shares representing 2.47% ownership of the company. In its prior filing, the firm reported owning 14,680K shares , representing a decrease of 1.61%. The firm decreased its portfolio allocation in PGR by 84.39% over the last quarter.
Jpmorgan Chase holds 13,538K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 21,381K shares , representing a decrease of 57.94%. The firm decreased its portfolio allocation in PGR by 38.25% over the last quarter.
Progressive Background Information
(This description is provided by the company.)
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers. Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.
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