Progressive Corporation (The): The Winning Streak Continues (PGR)

Shares of Progressive Corporation (The) (NYSE:PGR) traded today at $111.13, eclipsing its 52-week high. This new high was reached on below average trading volume as 1.6 million shares traded hands, while the average 30-day volume is approximately 3 million shares.

Progressive Corporation (The) (NYSE:PGR) has potential upside of 38.0% based on a current price of $109.81 and analysts’ consensus price target of $151.50.

Over the past year, Progressive Corporation (The) has traded in a range of $84.89 to $111.13 and is now at $109.81, 29% above that low.

Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the Internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

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