Morgan Stanley (NYSE:MS) analyst Michael Phillips CFA maintained a Hold rating on Progressive Corp (NYSE:PGR). on Tuesday, setting a price target of $103, which is approximately 10.84% above the present share price of $92.93.
Phillips CFA expects Progressive Corp. to post earnings per share (EPS) of $2.60 for the fourth quarter of 2020.
The current consensus among 8 TipRanks analysts is for a Hold rating of shares in Progressive, with an average price target of $99.63.
The analysts price targets range from a high of $115 to a low of $87.
In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $10.94 billion and a net profit of $0. The company's market cap is $54.54 billion.
According to TipRanks.com, Morgan Stanley analyst Michael Phillips CFA is currently ranked with 3 stars on a 0-5 stars ranking scale, with an average return of 9.1% and a 77.78% success rate.
Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The Other Indemnity segment manages run-off businesses. The company was founded in 1965 and is headquartered in Mayfield Village, OH.