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INX:PGR, Nov 15, 03:40 UTC

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The Zacks Analyst Blog Highlights: Cigna, Progressive, James River and American Equity

PGR

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Natural disasters, which ravaged parts of the United States in 2017 and 2018 so far, have not only resulted in increased number of insurance renewals but also higher premium pricing. What is rather a burden for buyers has proved to be a boon for insurance companies. Per the latest report published by Willis Towers Watson in its 2019 Insurance Marketplace Realities, players in the insurance industry are poised for tremendous growth in the days to come. According to a report published by PwC on Oct 24, 2018, the total value of merger and acquisition activity in America’s insurance sector increased to $8.1 billion in the third quarter of 2018.

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  • Business
  • Financial

Monday, November 12


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Progressive Corp (PGR) Expected to Post Earnings of $1.05 Per Share – PressOracle

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According to Zacks, analysts expect that Progressive will report full-year earnings of $4.80 per share for the current financial year, with EPS estimates ranging from $4.72 to $4.91. For the next year, analysts forecast that the firm will post earnings of $4.73 per share, with EPS estimates ranging from $4.20 to $5.50. Progressive (NYSE:PGR) last posted its earnings results on Tuesday, October 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. In other Progressive news, CFO John P. Sauerland sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 16th.

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  • Financial
News

Markel Corp Has $30.16 Million Holdings in Progressive Corp (NYSE:PGR) – Marea Informative

PGR ADI

Markel Corp boosted its holdings in shares of Progressive Corp (NYSE:PGR) by 34.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company’s stock had a trading volume of 49,927 shares, compared to its average volume of 3,565,041. The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States.

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  • Financial
News

Oxbridge Re (OXBR) vs. Progressive (PGR) Head to Head Contrast – PressOracle

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Oxbridge Re (OXBR) vs. Progressive (PGR) Head to Head Contrast – PressOracle. Oxbridge Re (NASDAQ:OXBR) and Progressive (NYSE:PGR) are both finance companies, but which is the better investment? We will compare the two businesses based on the strength of their analyst recommendations, institutional ownership, profitability, risk, dividends, valuation and earnings. This table compares Oxbridge Re and Progressive’s net margins, return on equity and return on assets.

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  • Business
  • Financial

Friday, November 09


News

MedDay Pharmaceuticals Announces Full Patient Enrollment for MD1003 Phase III Clinical Trial (SPI2) in Progressive Multiple Sclerosis

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Enrollment complete in SPI2 phase III study investigating MD1003 in Progressive MS - MedDay has finalized full patient enrollment of its second phase III clinical trial (SPI2) which is aimed at confirming and reinforcing the positive results of the first phase III trial (MS-SPI) that demonstrated the potential of its investigational drug MD1003 to reverse disease progression in progressive MS1,2. Christian Chavy, Chief Executive Officer of MedDay, commented:“The mechanism of action of our investigational product MD1003 has significant potential in the treatment of Progressive Multiple Sclerosis. MedDay is fully committed to advance its clinical program as initially planned with a view of offering a new therapeutic alternative to patients.”. MD1003 has a mode of action which potentially acts on two targets related to progressive MS: (1) it activates the Krebs cycle, the main route for energy production that protects against axonal degeneration and (2) it activates acetyl-CoA carboxylases (ACC1 and ACC2), the rate-limiting enzymes in the synthesis of fatty acids required for myelin repair.

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  • Health
  • Technology
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Thursday, November 08


News

Pep Boys Presents Free One-Year Vehicle Maintenance Packages to 106 Veterans Through Progressive’s Keys to Progress® Program

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National automotive service chain supporting veterans in more than 60 U.S. communities as an affiliate of vehicle giveaway program from Progressive® Insurance. Pep Boys, an Icahn Automotive Group (Icahn Automotive) company and Keys to Progress affiliate, stepped forward this year to use its national service network to help recipients maintain their vehicles. “Pep Boys considers ourselves part of every community in which we serve customers, and we support and honor our veterans as they return to their homes and their civilian lives,” said Brian Kaner, president of service for Pep Boys and Icahn Automotive, during one of today’s 65 Keys to Progress events, in Cleveland, Ohio. In addition to its support of the Keys to Progress program, Pep Boys offers all active, reserve and retired military a 10-percent discount* on automotive service and parts.

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  • Business
  • Financial
  • Science

Monday, November 05


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Progressive (NYSE:PGR) Price Target Raised to $85.00 – XNewsPress

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Morgan Stanley upped their price objective on shares of Progressive from $64.00 to $68.00 and gave the company a “$60.39” rating in a report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a market capitalization of $39.83 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.94 and a beta of 0.71. American Century Companies Inc. now owns 1,720,055 shares of the insurance provider’s stock worth $122,193,000 after purchasing an additional 1,715,871 shares in the last quarter.

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  • Business
  • Financial

Sunday, November 04


News

Wells Fargo & Co Analysts Give Westinghouse Air Brake Technologies (WAB) a $105.00 Price Target – XNewsPress

WFC PGR

Stifel Nicolaus increased their price objective on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, July 25th. Westinghouse Air Brake Technologies has a 52-week low of $69.75 and a 52-week high of $115.40. The firm has a market capitalization of $8.23 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts forecast that Westinghouse Air Brake Technologies will post 3.85 earnings per share for the current year.

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  • Financial

Saturday, November 03


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Progressive (PGR) Given a $79.00 Price Target at Credit Suisse Group – Marea Informative

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One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. During the same quarter last year, the business posted $0.38 EPS. As a group, sell-side analysts anticipate that Progressive will post 4.8 EPS for the current fiscal year. In other Progressive news, CEO Susan Patricia Griffith sold 12,600 shares of Progressive stock in a transaction that occurred on Thursday, August 16th. State Treasurer State of Michigan now owns 172,381 shares of the insurance provider’s stock valued at $10,196,000 after buying an additional 900 shares in the last quarter.

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  • Financial

Wednesday, October 31


News

Progressive (PGR) Given a $79.00 Price Target by Credit Suisse Group Analysts – Marea Informative

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One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.94 and a beta of 0.67. In related news, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction dated Thursday, August 16th. Artisan Partners Limited Partnership now owns 17,946,090 shares of the insurance provider’s stock worth $1,061,511,000 after acquiring an additional 864,700 shares during the period.

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  • Business
  • Financial