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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Hold PGR

Progressive Corporation (PGR) rated Hold with price target $13.50 by Citigroup

Posted on: Wednesday,  Nov 12, 2008  8:25 AM ET by Citigroup

Progressive (PGR) rated
Hold with price target $13.50 by Citigroup.

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).

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/1/2015 10:25 AM Hold
None
30.86
as of 12/24/2008
1 Week down  -2.33 %
1 Month up  14.77 %
3 Months up  24.57 %
1 YTD up  24.57 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/12/2014 8:25 AM Hold
None
23.56
10/15/2012 8:25 AM Sell
None
21.91
3/9/2010 8:25 AM Hold
None
17.11
11/12/2008 8:25 AM Hold
None
12.41 13.50

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