Stiles Financial Services just bought new shares in Progressive Corporation. This big insurance company, Progressive, now sees more investment. It could signal good things for investors.
Stiles Buys Progressive Shares
Stiles Financial Services made a new move. They acquired 430 shares of Progressive. This new stake is worth about $72,000. This investment happened in late 2023. Specifically, it was in the fourth quarter. It shows Stiles’ confidence in Progressive’s future. What does this mean for you? It shows active trading in a well-known company.
More Firms Invest in Progressive
Other investors also showed interest. Many financial firms are watching Progressive. Voya Investment Management boosted its Progressive shares by 11.2%. Nuveen Asset Management also raised its stake by 11.4%. National Bank of Canada bought a new stake too. That stake was worth $29,000. Commonwealth Equity Services increased its holdings by 2.3%. First Horizon Advisors added 2.8% more shares. These actions suggest a positive view. They see growth potential for Progressive.
Progressive’s Performance and Analyst Views
Many experts watch Progressive’s stock. Raymond James changed its rating. They moved it from “Strong Buy” to “Outperform.” This means they still like it. Other firms are more bullish. JPMorgan Chase lifted its price target to $225.00. Jefferies Financial Group set a target of $238.00. TD Securities raised its target to $220.00. Royal Bank of Canada now targets $237.00. Morgan Stanley set a target of $178.00. Progressive’s stock price recently hit $203.49. Its shares traded between $133.45 and $222.00 over the last year. This range shows its recent activity.
Progressive reported strong numbers. The company’s revenue was $16.48 billion in the last quarter of 2023. This beat what experts expected. They thought it would be $16.03 billion. Progressive’s earnings per share were $6.07 for the quarter. This strong performance might attract more investors. It shows the company is doing well. Want to learn more about Progressive? Visit their official website. For broader market insights, check out Investopedia.
