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Citigroup Maintains Progressive (PGR) Sell Recommendation

Fintel reports that on September 18, 2023, Citigroup maintained coverage of Progressive (NYSE:PGR) with a Sell recommendation.

Analyst Price Forecast Suggests 1.00% Upside

As of August 31, 2023, the average one-year price target for Progressive is 141.97. The forecasts range from a low of 107.06 to a high of $218.40. The average price target represents an increase of 1.00% from its latest reported closing price of 140.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Progressive is 57,099MM, an increase of 2.18%. The projected annual non-GAAP EPS is 6.35.

What is the Fund Sentiment?

There are 2116 funds or institutions reporting positions in Progressive. This is a decrease of 42 owner(s) or 1.95% in the last quarter. Average portfolio weight of all funds dedicated to PGR is 0.54%, a decrease of 10.32%. Total shares owned by institutions decreased in the last three months by 0.33% to 575,878K shares. The put/call ratio of PGR is 0.60, indicating a bullish outlook.

What are Other Shareholders Doing?

PGR / Progressive Corp. Shares Held by Institutions

Jpmorgan Chase holds 27,762K shares representing 4.74% ownership of the company. In it’s prior filing, the firm reported owning 26,383K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in PGR by 591.69% over the last quarter.

Wellington Management Group Llp holds 18,888K shares representing 3.23% ownership of the company. In it’s prior filing, the firm reported owning 18,317K shares, representing an increase of 3.02%. The firm decreased its portfolio allocation in PGR by 8.95% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,259K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 18,119K shares, representing an increase of 0.77%. The firm decreased its portfolio allocation in PGR by 13.97% over the last quarter.

Bank Of America holds 17,682K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 19,132K shares, representing a decrease of 8.20%. The firm decreased its portfolio allocation in PGR by 12.73% over the last quarter.

Massachusetts Financial Services holds 14,789K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 14,969K shares, representing a decrease of 1.21%. The firm decreased its portfolio allocation in PGR by 11.96% 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®.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on September 18, 2023, Citigroup maintained coverage of Progressive (NYSE:PGR) with a Sell recommendation. Analyst Price Forecast Suggests 1.00% Upside As of August 31, 2023, the average one-year price target for Progressive is 141.97. The forecasts range from a low of 107.06 to a high of $218.40. The average price target represents an increase of 1.00% from its latest reported closing price of 140.56.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Progressive is 57,099MM, an increase of 2.18%. The projected annual non-GAAP EPS is 6.35. What is the Fund Sentiment? There are 2116 funds or institutions reporting positions in Progressive. This is a decrease of 42 owner(s) or 1.95% in the last quarter. Average portfolio weight of all funds dedicated to PGR is 0.54%, a decrease of 10.32%. Total shares owned by institutions decreased in the last three months by 0.33% to 575,878K shares. The put/call ratio of PGR is 0.60, indicating a bullish outlook. What are Other Shareholders Doing? Jpmorgan Chase holds 27,762K shares representing 4.74% ownership of the company. In it’s prior filing, the firm reported owning 26,383K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in PGR by 591.69% over the last quarter. Wellington Management Group Llp holds 18,888K shares representing 3.23% ownership of the company. In it’s prior filing, the firm reported owning 18,317K shares, representing an increase of 3.02%. The firm decreased its portfolio allocation in PGR by 8.95% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 18,259K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 18,119K shares, representing an increase of 0.77%. The firm decreased its portfolio allocation in PGR by 13.97% over the last quarter. Bank Of America holds 17,682K shares representing 3.02% ownership of the company. In it’s prior filing, the firm reported owning 19,132K shares, representing a decrease of 8.20%. The firm decreased its portfolio allocation in PGR by 12.73% over the last quarter. Massachusetts Financial Services holds 14,789K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 14,969K shares, representing a decrease of 1.21%. The firm decreased its portfolio allocation in PGR by 11.96% 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®.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/citigroup-maintains-progressive-pgr-sell-recommendation-2 Citigroup Maintains Progressive (PGR) Sell Recommendation

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