Progressive falls after Q3 profit declines and policy growth slows

By Reuters News

** Shares of insurer Progressive PGR.N fall 9.3% to $202.1

** PGR reports Q3 net income of $2.5 bln, or $4.37 per share, vs $2.62 bln, or $4.45 per share, a year earlier

** Company-wide policies-in-force growth slowed to 6% in September from 7% in June

** PGR is one of the worst performers on the benchmark S&P 500 index .SPX on Wednesday

** Eight of 27 brokerages rate the stock "buy" or higher, 18 "hold" and one "sell"; median PT is $230

** Including session's move, stock down 11.3% YTD, compared with a 13.3% increase in the S&P 500 index

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.