Wall Street analysts expect Progressive Corp (NYSE:PGR) to announce earnings per share (EPS) of $1.24 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Progressive’s earnings, with estimates ranging from $1.16 to $1.38. Progressive reported earnings per share of $1.19 during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results on Tuesday, July 16th.

According to Zacks, analysts expect that Progressive will report full year earnings of $5.07 per share for the current financial year, with EPS estimates ranging from $4.65 to $5.50. For the next financial year, analysts expect that the business will post earnings of $5.49 per share, with EPS estimates ranging from $5.06 to $6.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Progressive.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Tuesday, April 16th. The insurance provider reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.45. The business had revenue of $9.24 billion for the quarter, compared to the consensus estimate of $9.20 billion. Progressive had a net margin of 8.16% and a return on equity of 24.83%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share.

Several equities analysts have recently weighed in on PGR shares. Credit Suisse Group reissued a “buy” rating and issued a $73.00 price target on shares of Progressive in a research note on Thursday, January 3rd. Zacks Investment Research upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Wednesday, January 2nd. Wells Fargo & Co reiterated a “hold” rating and set a $73.00 price target on shares of Progressive in a research report on Wednesday, March 13th. Citigroup lifted their price target on shares of Progressive from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Finally, Barclays lifted their price target on shares of Progressive from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Progressive currently has a consensus rating of “Buy” and a consensus target price of $73.71.

In related news, insider John A. Barbagallo sold 45,000 shares of Progressive stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $65.44, for a total value of $2,944,800.00. Following the completion of the transaction, the insider now owns 132,370 shares in the company, valued at $8,662,292.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John P. Sauerland sold 12,000 shares of Progressive stock in a transaction that occurred on Friday, January 25th. The shares were sold at an average price of $65.27, for a total transaction of $783,240.00. Following the completion of the transaction, the chief financial officer now owns 392,019 shares of the company’s stock, valued at approximately $25,587,080.13. The disclosure for this sale can be found here. Insiders sold 114,100 shares of company stock valued at $7,722,825 in the last 90 days. Company insiders own 0.39% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in Progressive by 4,886.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,709,752 shares of the insurance provider’s stock worth $161,000 after acquiring an additional 9,515,013 shares during the last quarter. Norges Bank purchased a new position in Progressive in the fourth quarter worth approximately $346,597,000. The Manufacturers Life Insurance Company lifted its stake in Progressive by 493.1% in the third quarter. The Manufacturers Life Insurance Company now owns 3,228,119 shares of the insurance provider’s stock worth $229,325,000 after acquiring an additional 2,683,854 shares during the last quarter. Eaton Vance Management lifted its stake in Progressive by 84.5% in the fourth quarter. Eaton Vance Management now owns 2,444,668 shares of the insurance provider’s stock worth $147,486,000 after acquiring an additional 1,119,423 shares during the last quarter. Finally, Hexavest Inc. purchased a new position in Progressive in the fourth quarter worth approximately $62,136,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Shares of NYSE:PGR traded down $1.10 during midday trading on Wednesday, hitting $76.16. The company’s stock had a trading volume of 3,219,030 shares, compared to its average volume of 3,210,443. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43. The company has a market cap of $42.20 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.94 and a beta of 0.77. Progressive has a 12-month low of $56.71 and a 12-month high of $77.34.

The firm also recently disclosed an annual dividend, which was paid on Monday, April 15th. Investors of record on Friday, April 5th were issued a $0.10 dividend. This represents a dividend yield of 0.14%. The ex-dividend date of this dividend was Thursday, April 4th. Progressive’s dividend payout ratio (DPR) is currently 59.05%.

About Progressive

Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, Property, and Other Indemnity.

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