Progressive Reports June 2023 Results

JPMorgan sees 'long-term attractive gains' for Progressive Corp. (PGR)

JPMorgan upgraded Progressive Corp. (NYSE: PGR) to Overweight from Neutral in a note Monday, with analyst Jimmy Bhullar maintaining a $146 price target on the stock.

The analyst stated that the concerns of short-term pain are creating long-term attractive gains.

While the analyst... More

Progressive (PGR) reports disappointing results, shares tank

Shares of Progressive Corp. (NYSE: PGR) declined Thursday after it reported June and second quarter results. The insurance company reported solid policies-in-force (PIF) growth but reported misses on catastrophes and reserves. Overall, Wall Street analysts characterized results as poor, but some continue to see opportunity long-term.

JPMorgan analyst Jimmy Bhullar explained, Business trends were poor Results were pressured by an elevated AY loss ratio, adverse... More

JPMorgan Mixed on Progressive Corp. (PGR): 'we could become more bullish on the stock if it pulls back'

JPMorgan analyst Jimmy Bhullar reiterated a Neutral rating and $146.00 price target on Progressive Corp. (NYSE: PGR).

The analyst comments "We reiterate our Neutral rating. Our long-term view of PGR is positive, but we believe that the stocks valuation is full. In our... More

Roth/MKM Defends Progressive Corp. (PGR): 'we would buy on weakness'

Roth/MKM analyst Harry Fong reiterated a Buy rating and $165.00 price target on Progressive Corp. (NYSE: PGR)

The analyst comments "Progressive reported an operating loss of $0.13 per share for the June 2023 month against our estimate of $0.45. Catastrophe losses over our estimate amounted to about $0.47 per share. Hence, it was still a miss to our underlying estimate chiefly due to prior year reserve development. Meanwhile,... More