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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Sector Perform
PGR
up 17.95 %

Progressive Corporation (the) (PGR) downgraded to Sector Perform with price target $25 by RBC Capital Mkts

Posted on: Thursday,  Mar 14, 2013  9:25 AM ET by RBC Capital Mkts

RBC Capital Mkts rated Sector Perform Progressive Corporation (NYSE: PGR) on 03/14/2013. Previously RBC Capital Mkts rated Outperform Progressive Corporation (NYSE:
PGR) on 10/13/2010., when the stock price was $21.27. Since then, Progressive Corporation has gained 17.96% as of 03/14/2013's recent price of $25.09.
If you would have followed the previous RBC Capital Mkts's recommendation on PGR, you would have gained 17.95% of your investment in 883 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).

RBC Capital Markets is an international corporate and investment bank that provides innovative solutions and a focused set of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,700 professional and support staff, we operate out of 75 offices in 15 countries and deliver our products and services through operations in Asia and Australasia, the UK and Europe and in every major North American city.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/14/2013 9:25 AM Hold
None
25.09 25.00
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD up  18.90 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/13/2010 8:25 AM Buy
None
21.27 24.00

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