Progressive (PGR) Projected to Post Earnings on Wednesday

Progressive (NYSE:PGR) is expected to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect Progressive to post earnings of $3.44 per share for the quarter.

Progressive (NYSE:PGR) last issued its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.18. Progressive had a net margin of 11.27% and a return on equity of 33.10%. The firm had revenue of $19.43 billion during the quarter, compared to the consensus estimate of $18.95 billion. On average, analysts expect Progressive to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Progressive Stock Up 1.0 %

Progressive stock traded up $2.41 during midday trading on Wednesday, reaching $242.17. The company’s stock had a trading volume of 3,498,037 shares, compared to its average volume of 2,679,767. The company has a market cap of $141.87 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.70 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $251.06 and a 200-day simple moving average of $242.00. Progressive has a fifty-two week low of $166.92 and a fifty-two week high of $270.62.

Progressive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Friday, January 10th. Progressive’s dividend payout ratio (DPR) is presently 2.91%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen upped their price target on Progressive from $197.00 to $237.00 and gave the company a “hold” rating in a report on Friday, November 8th. Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Progressive in a report on Friday, December 13th. Bank of America lifted their price target on shares of Progressive from $331.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group upped their price objective on shares of Progressive from $262.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Hsbc Global Res lowered Progressive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Progressive presently has a consensus rating of “Moderate Buy” and an average target price of $275.24.

Insider Buying and Selling at Progressive

In other Progressive news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 3,982 shares in the company, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven Broz sold 2,981 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $251.15, for a total value of $748,678.15. Following the transaction, the insider now directly owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. This trade represents a 10.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,919 shares of company stock valued at $8,222,168. 0.34% of the stock is owned by company insiders.

About Progressive

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.