Joshua Shanker

Over the past three weeks, shares of Progressive Corp (NYSE:PGR) have declined by 8%, underperforming the S&P 500 by more than 1,000 basis points, according to BofA Securities. The Progressive Analyst: Analyst Joshua Shanker upgraded the rating from Neutral to Buy, while raising the price...

BofA Securities analyst Joshua Shanker downgraded Progressive Corp (NYSE:PGR) from Buy to Neutral, lowering the price forecast from $300 to $287. Shanker noted that while investors have recently shifted into Progressive as a “defensive” play amid recession concerns and new U.S. tariffs...

Hurricane Ian is just off the Gulf Coast of Florida and approaching landfall near Cape Coral as a Category 4 storm with maximum sustained winds of 155 miles per hour. On Wednesday, several Wall Street analysts said it's still too soon to project the potential impact Ian will have on insurance...

The insurance business is a relatively stable industry within the broader economy, and insurance revenue and profits typically don't fluctuate significantly with the economic cycle. In addition to selling policies, insurance companies profit by investing the money they take in. Elevated...

Shares of WR Berkley Corp (NYSE: WRB) are trading close to the troughs last seen in 2013-2014, according to BofA Securities. The WR Berkley Analyst: Joshua Shanker upgraded WR Berkley from Underperform to Neutral and raised the price target from $80 to $86. The WR Berkley Takeaways: Although there...

Hartford Financial Services Group Inc’s (NYSE: HIG) fundamentals are sufficiently strong to support potential upside, according to BofA Securities, especially with better-than-expected growth in commercial property and casualty insurance in the second quarter and higher-than-...

Insurtech stocks Lemonade Inc (NYSE: LMND) (down 1.8%) and Root Inc (NASDAQ: ROOT) (up 11%) were mixed Friday after the two companies received some mixed commentary on Wall Street. Disappointing Download Data: On Friday, Bank of America analyst Joshua Shanker said the latest app download data is...

Lemonade Inc (NYSE: LMND) has achieved significant growth from a small base, which is likely to continue. But, the addressable market is limited and the company may need to sacrifice long-term profitability to win market share, according to BofA Securities. The Lemonade Analyst: Joshua Shanker...

The COVID-19 pandemic has triggered a renewed interest in life insurance policies among Americans, creating opportunity for savvy investors. Many life insurance companies reported double-digit percentage increases in policy sales in 2020. In fact, Google searches for life insurance spiked 50%...

The S&P 500 gained more than 11% in November, its best November on record. After such a strong month and impressive 2020 rebound off the index's March lows, much of the easy money from the expected 2021 economic rebound may have already been made. Bank of America maintains a list of top...

American International Group Inc (NYSE: AIG) shares are down 35.1% in the past year, but at least one larger option trader is betting on more downside ahead from the insurance giant after the Federal Reserve said interest rates would remain near 0% through at least the end of 2022. The Trade On...

Chubb Ltd (NYSE: CB) reported better than expected second-quarter earnings July 24 and declared quarterly dividend of 73 cents Aug. 9. It is payable on Oct. 12 to shareholders of record at the close on Sept. 21. The Analyst Deutsche Bank's Joshua Shanker downgraded Chubb from Hold to...

Dennis Haysbert famously asks TV viewers if they are in "good hands" with their insurance plans. But ask analysts at Deutsche Bank if a position in Allstate Corp (NYSE: ALL) would be in "good hands" in a portfolio and the answer is not necessarily. Joshua Shanker downgraded...

Deutsche Bank downgraded shares of American International Group Inc. (NYSE: AIG) from Hold to Sell on in the wake of CEO Peter Hancock’s resignation. Deutsche called Hancock’s resignation — which came mid-board meeting last Wednesday, according to the Wall Street Journal — a...