NYSE:PGRInsurance
Analyst Downgrades and Margin Pressures Might Change the Case for Investing in Progressive (PGR)
Over the past quarter, Progressive completed its planned share repurchase program, buying back 193,948 shares for a total of US$49.13 million and reporting revenues that rose 14.2% year on year, though it fell short of analyst estimates for earnings per share and book value per share.
Several major analysts recently downgraded Progressive, citing concerns about moderating investment income as interest rates decline and margin pressure from targeted rate reductions, despite solid...