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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Neutral PGR

Progressive Corporation (the) (PGR) rated Neutral with price target $22 by JP Morgan

Posted on: Friday,  Mar 26, 2010  8:25 AM ET by JP Morgan

Progressive Corporation (the) (NYSE: PGR)
rated Neutral with price target $22 by JP Morgan.

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).

JPMorgan is a leading financial services firm with one of the largest client franchises in the world. We partner with our clients to offer the most complete and innovative solutions in the industry to help them achieve their goals. For more than 200 years, we have taken a long-term approach to our clients and to the way we conduct business. Our firm has grown considerably in scale and scope, but our commitment to our core principle of doing "only first-class business... in a first-class way" has never been stronger.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/26/2010 8:25 AM Hold
None
18.97 22.00
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   

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