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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Mkt Perform
PGR
up 27.68 %

Progressive Corporation (the) (PGR) downgraded to Mkt Perform with price target $22 by FBR Capital

Posted on: Thursday,  Mar 14, 2013  8:25 AM ET by FBR Capital

FBR Capital rated Mkt Perform Progressive Corporation (NYSE: PGR) on 03/14/2013. Previously FBR Capital rated Outperform Progressive Corporation (NYSE: PGR)
on 08/19/2010., when the stock price was $19.65. Since then, Progressive Corporation has gained 27.68% as of 03/14/2013's recent price of $25.09.
If you would have followed the previous FBR Capital's recommendation on PGR, you would have gained 27.68% of your investment in 938 days.

The Progressive Corporation is an insurance holding company. As of December 31, 2008, the Company owned 58 subsidiaries and had one mutual insurance company affiliate. Its insurance subsidiaries provide personal and commercial automobile insurance, and other specialty property-casualty insurance and related services throughout the United States. The Company?s Personal Lines segment writes insurance for private passenger automobiles and recreational and other vehicles. The Commercial Auto segment business writes primary liability and physical damage insurance for automobiles and trucks owned by small businesses. The Company?s other indemnity businesses primarily include writing professional liability insurance for community banks, principally directors and officers liability insurance. Its service businesses include providing insurance-related services, primarily for the commercial auto insurance procedures/plans (CAIP).

FBR Capital uses a highly disciplined analysis focused on intrinsic value, which we developed to critically examine the capital structure of the companies we cover, as well as their competitive positions and the growth opportunities within their industries. We apply this discipline – which helps us assess how effectively a company’s managers deploy the capital entrusted to them – not only in our published research but also when making investing and underwriting judgments.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/14/2013 8:25 AM Hold
None
25.09 22.00
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD up  18.90 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
8/19/2010 8:25 AM Buy
None
19.65 24.00
3/26/2010 8:25 AM Buy
None
18.97 23.00
6/22/2009 8:25 AM Hold
None
14.50 17.00

(*) Stock Price at the time of the recommendation.
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