Progressive downgraded at Evercore As previously reported, Evercore downgraded Progressive to Underweight from Equal Weight. The firm expects top-line growth to deteriorate in 2H 2013 and for its multiple to contract. Price target is $24.
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.