Progressive (NYSE:PGR - Get Free Report) is projected to announce its earnings results before the market opens on Friday, April 11th. Analysts expect the company to announce earnings of $4.28 per share and revenue of $21.87 billion for the quarter. Parties that wish to register for the company's conference call can do so using this link.
Progressive (NYSE:PGR - Get Free Report) last issued its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.44 by $0.64. Progressive had a return on equity of 33.79% and a net margin of 11.25%. On average, analysts expect Progressive to post $15 EPS for the current fiscal year and $15 EPS for the next fiscal year.
Progressive Stock Performance
Shares of Progressive stock traded up $2.60 during trading on Friday, hitting $275.78. 3,052,599 shares of the stock were exchanged, compared to its average volume of 2,646,373. The stock has a market cap of $161.67 billion, a PE ratio of 19.15, a P/E/G ratio of 1.70 and a beta of 0.38. The stock's fifty day moving average is $271.85 and its 200 day moving average is $257.23. Progressive has a 12 month low of $201.34 and a 12 month high of $292.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31.
Progressive Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.15%. Progressive's dividend payout ratio (DPR) is presently 2.78%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PGR. StockNews.com cut Progressive from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Keefe, Bruyette & Woods lowered their price objective on shares of Progressive from $300.00 to $288.00 and set an "outperform" rating on the stock in a research note on Wednesday. Bank of America cut shares of Progressive from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $300.00 to $287.00 in a report on Friday, April 4th. UBS Group upped their price target on Progressive from $275.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, March 14th. Finally, BMO Capital Markets decreased their target price on Progressive from $273.00 to $267.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.71.
View Our Latest Report on PGR
Insider Activity
In related news, insider Andrew J. Quigg sold 962 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total value of $234,044.98. Following the completion of the sale, the insider now directly owns 34,787 shares in the company, valued at approximately $8,463,329.23. The trade was a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Susan Patricia Griffith sold 11,021 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the sale, the chief executive officer now owns 473,736 shares in the company, valued at $115,255,231.44. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,317 shares of company stock valued at $14,844,282. 0.34% of the stock is owned by company insiders.
Institutional Investors Weigh In On Progressive
An institutional investor recently raised its position in Progressive stock. Brighton Jones LLC increased its stake in The Progressive Co. (NYSE:PGR - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,392 shares of the insurance provider's stock after acquiring an additional 457 shares during the quarter. Brighton Jones LLC's holdings in Progressive were worth $813,000 at the end of the most recent reporting period. 85.34% of the stock is owned by institutional investors and hedge funds.
About Progressive
(
Get Free Report)
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.
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