Progressive Corp (NYSE:PGR).
Raymond James & Associates says it lowered its stake in Progressive Corp by 30,967 shares in the quarter ending 09/30/2017. Its position was valued at $12,020,000 a decrease of $290,000 as of the end of the quarter.
Raymond James & Associates isn’t the only one who has changed their investment in PGR. Great Lakes Advisors, LLC grew its stake by buying 43 shares an increase of 0.3% as of 09/30/2017. Great Lakes Advisors, LLC controls 15,268 shares worth $739,000. The value of the position overall is up by 10.1%. As of quarter end Commonwealth Of Pennsylvania Public School Empls Retrmt SYS had bought a total of 4,167 shares growing its stake by 9.7%. The value of the investment in PGR increased from $1,903,000 to $2,291,000 increasing 20.4% since the last quarter.
Tredje Ap-fonden expanded its investment by buying 8,379 shares an increase of 4.5%. Tredje Ap-fonden claims 192,765 shares with a value of $9,334,000. The total value of its holdings increased 14.8%.
Equity analyst Morgan Stanley raised the price target on October 18 changing the forecast from $49.00 to $51.00 and issued a “Equal Weight” recommendation. Citigroup raised the price target of the stock on October 18 changing the price objective from $50.00 to $51.00 and issued a “Neutral” rating.
On October 17, 2017 Wells Fargo & Company issued a report on PGR and giving a rating of “Hold” and setting a price target of $47.00. October 17 investment analysts at FBR & Co maintained a “Hold” rating on the company.
Equity analyst Barclays PLC raised the price target on October 16 boosting the projection from $41.00 to $43.00 with a “Underweight” recommendation. On September 25, 2017 MKM Partners reiterated a “Buy” rating on the stock.
The company is up by 0.76% percent from yesterday’s close. The P/E ratio is currently 21.56 and market cap is 30.05B. As of the last earnings report the EPS was $2.40 with 581.60M shares currently outstanding.
Traders are more bearish on shares of Progressive Corp lately if you evaluate the increase in short interest. The company realized a rise in short interest of 2.66% as of the latest report on October 13, 2017. Short shares grew from 8,000,884 to 8,213,630 over that period. With short interest at 8,213,630 and short average daily volume at 2,503,890, days to cover is 3.0 and the short interest percentage is 0.01% as of October 13.