The Progressive Corporation (PGR) To Go Ex-Dividend on October 1st

The Progressive Corporation (NYSE:PGR) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Thursday, October 1st will be given a dividend of $0.10 per share by the insurance provider on Friday, October 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 1st.

Progressive has raised its dividend by an average of 0.1%per year over the last three years. Progressive has a payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Progressive to earn $16.17 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 2.5%.

Progressive Price Performance

Shares of PGR opened at $209.37 on Tuesday. The company has a market capitalization of $121.72 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 2.63 and a beta of 0.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50-day simple moving average of $214.24 and a 200-day simple moving average of $208.38. Progressive has a fifty-two week low of $189.20 and a fifty-two week high of $248.17.

Progressive (NYSE:PGR) last posted its quarterly earnings results on Wednesday, July 15th. The insurance provider reported $5.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.64 by $1.03. The firm had revenue of $23.61 billion during the quarter, compared to analysts’ expectations of $19.49 billion. Progressive had a net margin of 12.84% and a return on equity of 32.92%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.40 earnings per share. On average, equities research analysts anticipate that Progressive will post 17.9 earnings per share for the current year.

Progressive Company Profile

Progressive Corporation is an insurance holding company that provides personal and commercial insurance products in the United States. Its primary business is automobile insurance, serving consumers through direct channels, independent agents and other distribution partners.

The company offers coverage for personal vehicles, motorcycles, recreational vehicles, boats and other specialty vehicles. Its personal insurance portfolio also includes homeowners, renters, condominium and other property coverage, while its commercial business provides insurance for commercial vehicles and related risks.