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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Equal-Weight
PGR
down 18.68 %

Progressive Corporation (PGR) upgraded to Equal-Weight with price target $20 by Lehman Brothers

Posted on: Wednesday,  May 28, 2008  8:25 AM ET by Lehman Brothers

Lehman Brothers rated Equal-Weight Progressive Corporation (NYSE: PGR) on 05/28/2008. Previously Lehman Brothers rated Underweight Progressive Corporation (NYSE: PGR) on
03/13/2008., when the stock price was $15.84. Since then, Progressive Corporation has gained 22.98% as of 05/28/2008's recent price of $19.48.
If you would have followed the previous Lehman Brothers's recommendation on PGR, you would have lost 18.68% of your investment in 76 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).

Lehman Brothers Holdings Inc. has filed for bankruptcy protection in the U.S.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/28/2008 8:25 AM Hold
None
19.48 20.00
as of 12/24/2008
1 Week down  -2.33 %
1 Month up  14.77 %
3 Months up  22.40 %
1 YTD down  -43.60 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/13/2008 8:25 AM Sell
None
15.84 15.00

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