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PGR

Progressive

$62.11

0.41 (0.66%)

13:30
05/15/18
05/15
13:30
05/15/18
13:30

Put buyers in Progressive

Put buyers in Progressive. The stock up 44c to $62.16 and Jun 60 puts trade in small lots for 70c before 4.5K trade for 72.5c when bid-ask was 60 to 75c. More than 5K changed hands and the bearish flow will create the largest open interest in the name, surpassing the 4.1K OI and the Jun 57.5 put strike (mostly opened 5/3). The interest expresses concerns that the stock will give back some its recent gains after notching new highs of $62.43 at the end of last week. Earnings last reported mid-April.

PGR Progressive
$62.11

0.41 (0.66%)

01/25/18
JANY
01/25/18
NO CHANGE
JANY
Buy
Janney surprised by severity of negative reaction after Progressive report
Janney Capital analyst Robert Glasspiegel recognizes that investors have concerns about the personal auto space, but he was still surprised by the severity of the negative reaction in Progressive shares yesterday as he views the December results favorably. The analyst, who said he remains confident that Progressive will continue to deliver superior growth and profitability, keeps a Buy rating on the stock, which fell 3% yesterday to close at $55.33.
01/25/18
WBLR
01/25/18
NO CHANGE
WBLR
Progressive current worries likely overblown, says William Blair
William Blair analyst Adam Klauber attributes the recent weakness in shares of Progressive to cyclical concerns, the California Commissioner's comments on taxes, and also a "blip" in the loss ratio. However, recent data suggest rate increases remain high, and the potential for California to reduce rates materially is small, Klauber tells investors in a research note. The analyst sees limited downside risk in the shares and believes the current worries are likely overblown. Klauber points out that a multiple of 18 times his 2018 operating earnings estimate suggests a stock price of $71, which is nearly 30% above the current price. He keeps an Outperform rating on Progressive.
03/27/18
MKMP
03/27/18
NO CHANGE
Target $70
MKMP
Buy
Progressive price target raised to $70 from $65 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Progressive to $70 after the company's February earnings, noting continued increase in the personal auto policies count and a strong growth in its direct channel of over 14%. Fong adds that the company's auto insurance growth rate is "very impressive" and that the company's underwriting performance is also "excellent". The analyst keeps his Buy rating on Progressive.
05/15/18
WBLR
05/15/18
NO CHANGE
WBLR
Outperform
Progressive shares could top $100 in next 12 months, says William Blair
William Blair analyst Adam Klauber says "rising secular tailwinds" should push Progressive's earnings "materially higher" than expectations. The impact of accelerating bundling should result in the company's earnings per share more than doubling from $2.50 in 2017 to the $5.50 to $6.00 range in 2019, Klauber tells investors in a research note. He notes that the consensus earnings estimate for 2019 is only at $3.97. The benefits of bundling expanding, like higher premium levels and growing invested assets, are just beginning to manifest and do not appear to be reflected in the stock price, the analyst contends. He thinks Progressive shares could reach $100-plus in the next 12 months. The stock closed yesterday at $61.72.

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COG

Cabot Oil & Gas

$25.55

-0.28 (-1.08%)

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PM

Philip Morris

$84.99

-0.52 (-0.61%)

, BTI

British American Tobacco

$35.46

-1.05 (-2.88%)

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MO

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MDR

McDermott

$8.25

0.36 (4.56%)

11:35
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Options
McDermott put volume heavy and directionally bearish »

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LXFT

Luxoft

$35.44

-3.3 (-8.52%)

11:33
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Downgrade
Luxoft rating change  »

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TDY

Teledyne

$221.27

1.165 (0.53%)

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11:30
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Conference/Events
Leerink healthcare analysts to hold an analyst/industry conference call »

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MDU

MDU Resources

$25.86

-0.265 (-1.01%)

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GS

Goldman Sachs

$199.90

-2.53 (-1.25%)

11:29
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Goldman Sachs CEO 'outraged' by 1MDB scandal, Bloomberg reports »

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XPO

XPO Logistics

$78.25

-0.65 (-0.82%)

11:25
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Options
XPO Logistics call volume above normal and directionally bullish »

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BHVN

Biohaven Pharmaceutical

$32.50

-1.2 (-3.56%)

11:25
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Conference/Events
Biohaven Pharmaceutical management to meet with Morgan Stanley »

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EVFM

Evofem

$3.44

(0.00%)

11:25
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Evofem to hold a key opinion leader event »

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SPLK

Splunk

$99.00

1.15 (1.18%)

, SAP

SAP

$104.09

0.23 (0.22%)

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ORCL

Oracle

$49.62

0.78 (1.60%)

PANW

Palo Alto Networks

$171.57

-5.26 (-2.97%)

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LOXO

Loxo Oncology

$147.40

3.71 (2.58%)

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Loxo Oncology management to meet with Morgan Stanley »

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$58.61

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PM

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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Technical Analysis
NYSE market internals summary »

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MYL

Mylan

$34.69

0.46 (1.34%)

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Qorvo

$63.65

0.77 (1.22%)

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OnTheFly
Fly Intel: Today's top analyst calls on Wall Street »

Check out today's top…

MYL

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PYPL

PayPal

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WP

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FDC

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SQ

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MTOR

Meritor

$15.36

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AAPL

Apple

$188.71

1.9 (1.02%)

, LITE

Lumentum

$39.27

0.42 (1.08%)

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KBH

KB Home

$17.07

-3.73 (-17.93%)

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KB Home puts lead calls 4:1 and implied volatility spikes to 52-week highs »

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