Progressive Corp. (PGR) Posts Quarterly Results
Progressive Corp. (NYSE:PGR) posted its quarterly earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03, AR Network reports.
Shares of Progressive Corp. (NYSE:PGR) traded down 0.96% on Wednesday, hitting $26.345. 646,215 shares of the company’s stock traded hands. Progressive Corp. has a 52 week low of $20.69 and a 52 week high of $27.55. The stock has a 50-day moving average of $26.19 and a 200-day moving average of $25.64. The company has a market cap of $15.817 billion and a P/E ratio of 13.93.
PGR has been the subject of a number of recent research reports. Analysts at Raymond James downgraded shares of Progressive Corp. from a “strong-buy” rating to a “market perform” rating in a research note to investors on Monday. On a related note, analysts at Barclays Capital downgraded shares of Progressive Corp. from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday, October 2nd. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Progressive Corp. in a research note to investors on Friday, August 23rd. They now have a $27.00 price target on the stock. Eight investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.10.
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services.
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