The Progressive Corporation (NYSE:PGR) Announces Quarterly Dividend of $0.10

The Progressive Corporation (NYSE:PGR) declared a quarterly dividend on Friday, May 8th. Investors of record on Thursday, July 2nd will be given a dividend of 0.10 per share by the insurance provider on Friday, July 10th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, July 2nd.

Progressive has increased its dividend payment by an average of 0.1%per year over the last three years. Progressive has a payout ratio of 2.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Progressive to earn $16.48 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 2.4%.

Progressive Stock Performance

Shares of PGR stock opened at $219.13 on Tuesday. Progressive has a 12-month low of $189.20 and a 12-month high of $267.92. The business’s fifty day simple moving average is $202.17 and its 200-day simple moving average is $206.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The company has a market cap of $128.05 billion, a PE ratio of 11.14, a PEG ratio of 6.81 and a beta of 0.28.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.13. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $23.51 billion. During the same quarter last year, the firm earned $4.37 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Progressive will post 17.08 earnings per share for the current fiscal year.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.