Progressive Corporation (The) (NYSE:PGR) Set to Announce Quarterly Earnings on Wednesday
Progressive Corporation (The) (NYSE:PGR) is scheduled to release its earnings data before the market opens on Wednesday, August 16th.
Progressive Corporation (The) (NYSE:PGR) last released its earnings results on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. Progressive Corporation (The)’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. On average, analysts expect Progressive Corporation (The) to post $2.43 EPS for the current fiscal year and $2.66 EPS for the next fiscal year.
Progressive Corporation (NYSE:PGR) traded down 1.01% during trading on Friday, reaching $47.23. The company’s stock had a trading volume of 2,943,218 shares. Progressive Corporation has a 12 month low of $30.54 and a 12 month high of $48.04. The company has a market cap of $27.44 billion, a P/E ratio of 20.10 and a beta of 0.86. The stock’s 50-day moving average is $45.95 and its 200 day moving average is $41.56.
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Several equities analysts have recently weighed in on PGR shares. MKM Partners reiterated a “buy” rating and set a $50.00 price objective (up previously from $45.00) on shares of Progressive Corporation (The) in a report on Friday, June 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 price objective on shares of Progressive Corporation (The) in a report on Thursday, May 18th. Bank of America Corporation upped their price objective on shares of Progressive Corporation (The) from $48.00 to $49.00 and gave the company a “buy” rating in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, June 19th. Finally, BidaskClub lowered shares of Progressive Corporation (The) from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.93.
In other Progressive Corporation (The) news, Director Jeffrey D. Kelly sold 20,000 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $44.52, for a total value of $890,400.00. Following the sale, the director now directly owns 59,963 shares in the company, valued at approximately $2,669,552.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William M. Cody sold 50,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $44.65, for a total transaction of $2,232,500.00. Following the completion of the sale, the insider now owns 151,051 shares in the company, valued at $6,744,427.15. The disclosure for this sale can be found here. Insiders have sold a total of 71,100 shares of company stock worth $3,168,605 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.
About Progressive Corporation (The)
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.
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