BUZZ - Progressive stock falls due to declining third-quarter profits and slowed policy growth

October 14 - ** Insurance company Progressive (PGR.N) shares fell 9.3% to $202.1

** PGR reported third-quarter net profit (link) of $2.5 billion, or $4.37 per share, compared to $2.62 billion, or $4.45 per share, a year earlier

** The company’s overall growth rate of active policies in September slowed to 6% from 7% in June

** On Wednesday, PGR was the worst performer in the S&P 500 index .SPX

** Out of 27 brokerages, 8 rate the stock as “buy” or higher, 18 as “hold,” and 1 as “sell”; the median price target is $230

** Including the latest drop, the stock is down 11.3% year-to-date, while the S&P 500 index is up 13.3% over the same period

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