Progressive (PGR) to Release Quarterly Earnings on Friday

Progressive (NYSE:PGR - Get Free Report) is expected 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. Persons interested in listening to the company's earnings conference call can do so using this link.

Progressive (NYSE:PGR - Get Free Report) last posted its earnings results on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Up 5.0 %

Shares of PGR stock traded up $12.77 during mid-day trading on Tuesday, hitting $268.04. 269,082 shares of the stock traded hands, compared to its average volume of 2,618,754. The stock's fifty day moving average is $269.31 and its two-hundred day moving average is $256.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.31 and a quick ratio of 0.30. Progressive has a 52-week low of $201.34 and a 52-week high of $292.99. The stock has a market cap of $157.14 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.70 and a beta of 0.38.

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Progressive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 annualized dividend and a yield of 0.15%. Progressive's dividend payout ratio (DPR) is 2.78%.

Insider Buying and Selling

In related news, insider Andrew J. Quigg sold 962 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were 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 owns 34,787 shares of the company's stock, valued at approximately $8,463,329.23. This represents a 2.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO John P. Sauerland sold 10,000 shares of Progressive stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $275.94, for a total transaction of $2,759,400.00. Following the transaction, the chief financial officer now directly owns 258,024 shares in the company, valued at $71,199,142.56. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,317 shares of company stock worth $14,844,282. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Progressive

A hedge fund recently bought a new stake in Progressive stock. Revolve Wealth Partners LLC acquired a new stake in The Progressive Co. (NYSE:PGR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,122 shares of the insurance provider's stock, valued at approximately $269,000. Institutional investors own 85.34% of the company's stock.

Wall Street Analyst Weigh In

PGR has been the subject of several analyst reports. Raymond James upgraded Progressive from a "market perform" rating to an "outperform" rating and set a $305.00 price objective for the company in a report on Thursday, December 26th. UBS Group lifted their target price on shares of Progressive from $275.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. boosted their price objective on shares of Progressive from $251.00 to $256.00 and gave the company an "overweight" rating in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on Progressive from $313.00 to $317.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, BMO Capital Markets cut their price objective 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $280.29.

Progressive Company Profile

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.