Barclays Maintains an 'Equalweight' on Progressive Corp. (PGR); Investor Day Recap: Raising 2012 EPS Outlook for Increased Share Buyback
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Price: $219.28 -0.48%
Rating Summary:
14 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Progressive Corp. (NYSE: PGR), PT $21.
Barclays analysts says, " We are raising our 2012 operating EPS estimate to $1.65 (consensus=$1.67) from $1.55 to reflect faster than anticipated share repurchase activity. We anticipate the share buyback authorization could be completed in 2013."
"We view PGR as one of the best-run companies in the P&C insurance industry as evidenced by its focused and differentiated auto insurance product offerings, consistent earnings, and industry-leading ROE. Earnings could be impacted by a rise in loss frequency trends as the impact of the recession eases, although rising gas prices could be a partial offset."
For more ratings news on Progressive Corp. click here and for the rating history of Progressive Corp. click here.
Shares of Progressive Corp. closed at $20.36 yesterday.
Barclays analysts says, " We are raising our 2012 operating EPS estimate to $1.65 (consensus=$1.67) from $1.55 to reflect faster than anticipated share repurchase activity. We anticipate the share buyback authorization could be completed in 2013."
"We view PGR as one of the best-run companies in the P&C insurance industry as evidenced by its focused and differentiated auto insurance product offerings, consistent earnings, and industry-leading ROE. Earnings could be impacted by a rise in loss frequency trends as the impact of the recession eases, although rising gas prices could be a partial offset."
For more ratings news on Progressive Corp. click here and for the rating history of Progressive Corp. click here.
Shares of Progressive Corp. closed at $20.36 yesterday.
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