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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Hold PGR
up 10.55 %

Progressive Corporation (the) (PGR) downgraded to Hold by Argus

Posted on: Tuesday,  Oct 18, 2011  8:25 AM ET by Argus

Argus rated Hold Progressive Corporation (NYSE: PGR) on 10/18/2011. Previously Argus rated Buy Progressive Corporation (NYSE: PGR) on 04/16/2009.,
when the stock price was $15.92. Since then, Progressive Corporation has gained 10.55% as of 10/18/2011's recent price of $17.60.
If you would have followed the previous Argus's recommendation on PGR, you would have gained 10.55% of your investment in 915 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).

Argus Research is an independent research firm, and our business is producing, distributing and marketing high-quality investment and economic research. Our recommendations - BUY, HOLD and SELL - reflect the judgment of an analyst about a company's prospects as an investment in terms of value, expected growth and risks. Argus Research does not bring companies public, advise companies on mergers and acquisitions, broker trades, make markets in stocks or manage money. Our independence allows us to make critical judgments about companies that we might not be so free to make were we competing for a firm's underwriting business. Because we're not a broker/dealer, we don't have "inventory" of a stock that we have to move with a tainted recommendation. We have developed a six-point system for analyzing the stocks in our Universe of Coverage. We believe that this system
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/18/2011 8:25 AM Hold
None
17.60
as of 12/30/2011
1 Week   
1 Month   
3 Months down  -0.90 %
1 YTD down  -11.42 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/16/2009 8:25 AM Buy
None
15.92 20.00

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