Progressive downgraded to Underperform from Market Perform at Keefe Bruyette Keefe Bruyette downgraded Progressive to Underperform citing valuation and expectations the company's combined ratio will move back toward 96%. The firm has a $23 price target for shares.
Progressive reports September net premiums written up 5% to $1.42B Reports September net premiums earned up 6% to $1.4B. Reports September net income up 49% to $92M. Reports September net income per share 16c vs. 10c last year.