The Progressive Corporation (PGR) Could Help Your Portfolio. The Stock Formed Bullish Double Top Pattern

April 24, 2018 - By Maria Brooks

The Progressive Corporation (NYSE:PGR) Logo

Investors sentiment increased to 1.17 in Q4 2017. Its up 0.10, from 1.07 in 2017Q3. It is positive, as 32 investors sold The Progressive Corporation shares while 198 reduced holdings. 81 funds opened positions while 189 raised stakes. 453.53 million shares or 1.27% more from 447.86 million shares in 2017Q3 were reported.
Blackrock owns 38.77M shares. Shelton Cap, California-based fund reported 4,123 shares. Alliancebernstein L P invested in 0.56% or 13.89 million shares. National Pension stated it has 584,035 shares. Balyasny Asset Management Llc has invested 0.1% in The Progressive Corporation (NYSE:PGR). New Mexico-based New Mexico Educational Retirement Board has invested 0.12% in The Progressive Corporation (NYSE:PGR). Connor Clark Lunn Inv Management Limited invested 0.09% of its portfolio in The Progressive Corporation (NYSE:PGR). Andra Ap owns 252,510 shares for 0.32% of their portfolio. Arizona State Retirement System holds 0.15% or 268,340 shares. 26,035 were accumulated by Cadence Capital Mngmt Ltd Liability Corp. Polar Llp holds 0.52% of its portfolio in The Progressive Corporation (NYSE:PGR) for 892,000 shares. Barclays Public Ltd Com holds 0.03% in The Progressive Corporation (NYSE:PGR) or 611,755 shares. Marshall Wace Llp accumulated 4,536 shares. Meiji Yasuda Life Insur Co holds 0.14% or 18,200 shares in its portfolio. Deutsche Comml Bank Ag invested in 3.98 million shares.

The chart of The Progressive Corporation (PGR) shows a double top with $66.73 target or 9.00 % above today’s $61.22 share price. The 8 months chart pattern indicates low risk for the $35.66B company. It was reported on Apr, 24 by If the $66.73 price target is reached, the company will be worth $3.21B more. Double tops are rare but powerful chart patterns.

The stock increased 0.28% or $0.17 during the last trading session, reaching $61.22. About 2.15M shares traded. The Progressive Corporation (NYSE:PGR) has risen 52.71% since April 24, 2017 and is uptrending. It has outperformed by 41.16% the S&P500.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 10 analysts covering Progressive (NYSE:PGR), 6 have Buy rating, 0 Sell and 4 Hold. Therefore 60% are positive. Progressive had 18 analyst reports since November 15, 2017 according to SRatingsIntel. The firm has “Buy” rating by Keefe Bruyette & Woods given on Tuesday, April 17. The stock of The Progressive Corporation (NYSE:PGR) has “Buy” rating given on Monday, December 4 by Keefe Bruyette & Woods. The company was maintained on Thursday, March 1 by Sandler O’Neill. The company was maintained on Wednesday, March 14 by Keefe Bruyette & Woods. The stock has “Buy” rating by Sandler O’Neill on Wednesday, March 14. The stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Sandler O’Neill on Thursday, February 15. FBR Capital maintained the stock with “Hold” rating in Monday, April 16 report. As per Wednesday, April 18, the company rating was maintained by Morgan Stanley. UBS maintained the shares of PGR in report on Thursday, January 25 with “Buy” rating. The company was maintained on Tuesday, April 17 by Sandler O’Neill.

The Progressive Corporation (NYSE:PGR) Institutional Positions Chart

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