Progressive (NYSE:PGR) will be releasing its earnings data before the market opens on Wednesday, July 15th. Analysts expect Progressive to post earnings of $1.74 per share for the quarter.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.66. The firm had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $10.28 billion. Progressive had a net margin of 9.18% and a return on equity of 26.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.83 earnings per share. On average, analysts expect Progressive to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Shares of NYSE PGR opened at $80.33 on Tuesday. The stock has a market cap of $47.27 billion, a P/E ratio of 13.26, a P/E/G ratio of 2.17 and a beta of 0.51. The firm has a 50 day moving average price of $78.88 and a 200 day moving average price of $77.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.39 and a current ratio of 0.39. Progressive has a 52-week low of $62.18 and a 52-week high of $84.96.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, July 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, July 6th. Progressive’s payout ratio is currently 5.95%.

A number of research analysts have weighed in on the stock. MKM Partners cut their price target on shares of Progressive from $100.00 to $90.00 in a research note on Wednesday, March 18th. Wells Fargo & Co lifted their price target on shares of Progressive from $76.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 1st. Piper Sandler lowered shares of Progressive from an “overweight” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Thursday, June 11th. Credit Suisse Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Progressive in a research note on Thursday, April 2nd. Finally, Morgan Stanley lifted their price target on shares of Progressive from $88.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Progressive presently has a consensus rating of “Buy” and a consensus price target of $85.71.

In related news, insider Andrew J. Quigg sold 4,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $74.26, for a total transaction of $297,040.00. Following the transaction, the insider now directly owns 8,063 shares in the company, valued at $598,758.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 15,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $78.91, for a total transaction of $1,183,650.00. Following the transaction, the chief financial officer now owns 332,326 shares in the company, valued at $26,223,844.66. The disclosure for this sale can be found here. In the last three months, insiders sold 83,468 shares of company stock worth $6,498,956. 0.38% of the stock is currently owned by insiders.

About Progressive

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Earnings History for Progressive (NYSE:PGR)

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