Q1 Earnings Estimate for Progressive Issued By William Blair

The Progressive Co. (NYSE:PGR - Free Report) - William Blair upped their Q1 2025 earnings estimates for shares of Progressive in a research report issued to clients and investors on Wednesday, March 19th. William Blair analyst A. Klauber now expects that the insurance provider will earn $4.91 per share for the quarter, up from their prior forecast of $4.43. The consensus estimate for Progressive's current full-year earnings is $14.68 per share.

Other analysts have also issued reports about the stock. Hsbc Global Res lowered shares of Progressive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. UBS Group upped their price target 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. Bank of America cut their price objective on shares of Progressive from $318.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company raised their target price on Progressive from $313.00 to $317.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Roth Mkm increased their price target on Progressive from $290.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Progressive currently has a consensus rating of "Moderate Buy" and a consensus price target of $281.06.

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Progressive Price Performance

Shares of NYSE PGR traded up $0.57 during midday trading on Friday, reaching $274.57. The company's stock had a trading volume of 2,911,344 shares, compared to its average volume of 2,431,730. Progressive has a one year low of $201.34 and a one year high of $292.99. The company has a 50 day moving average price of $262.72 and a 200 day moving average price of $255.19. The company has a market cap of $160.96 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.35. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27.

Progressive (NYSE:PGR - Get Free Report) last posted its quarterly earnings data 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 net margin of 11.25% and a return on equity of 33.79%.

Progressive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is 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%.

Insiders Place Their Bets

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $46,241.10. Following the sale, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Carl G. Joyce sold 360 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $276.17, for a total value of $99,421.20. Following the completion of the sale, the chief accounting officer now owns 655 shares of the company's stock, valued at approximately $180,891.35. This trade represents a 35.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,855 shares of company stock valued at $16,767,455. 0.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Progressive

Large investors have recently modified their holdings of the stock. Webster Bank N. A. acquired a new stake in shares of Progressive in the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC increased its position in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider's stock worth $28,000 after purchasing an additional 41 shares during the period. Minot DeBlois Advisors LLC acquired a new stake in Progressive in the fourth quarter worth about $28,000. Finally, Valley National Advisers Inc. raised its holdings in Progressive by 3,000.0% during the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider's stock worth $29,000 after purchasing an additional 120 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

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.