Progressive (PGR) to Release Quarterly Earnings on Wednesday

Progressive (NYSE:PGR) will be releasing its earnings data before the market opens on Wednesday, January 24th. Analysts expect Progressive to post earnings of $0.77 per share for the quarter.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.04 billion. During the same period last year, the business earned $0.34 EPS. Progressive’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts expect Progressive to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of Progressive (PGR) opened at $56.27 on Wednesday. Progressive has a one year low of $35.85 and a one year high of $57.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market cap of $32,730.00, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.38 and a beta of 0.94.

Several brokerages have issued reports on PGR. UBS Group reissued a “buy” rating and set a $62.00 price objective on shares of Progressive in a research report on Friday, December 1st. Citigroup raised their price objective on shares of Progressive from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 18th. Credit Suisse Group raised shares of Progressive from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $42.00 to $48.00 in a research report on Wednesday, September 20th. Wells Fargo & Co set a $47.00 price objective on shares of Progressive and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, MKM Partners raised their price objective on shares of Progressive to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Progressive has an average rating of “Hold” and an average target price of $50.41.

In related news, insider William M. Cody sold 25,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $56.10, for a total transaction of $1,402,500.00. Following the sale, the insider now owns 137,722 shares of the company’s stock, valued at $7,726,204.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $48.90, for a total transaction of $293,400.00. Following the sale, the insider now directly owns 108,038 shares in the company, valued at approximately $5,283,058.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,000 shares of company stock worth $1,992,900. Insiders own 0.56% of the company’s stock.

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Progressive Company Profile

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Earnings History for Progressive (NYSE:PGR)

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