Progressive Corporation (The) (NYSE:PGR) released its quarterly earnings data on Tuesday. The insurance provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by $0.01, MarketWatch Earnings reports. Progressive Corporation (The) had a net margin of 4.95% and a return on equity of 13.99%. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.78 billion. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis.

Progressive Corporation (NYSE PGR) traded up 0.22% on Tuesday, hitting $45.55. 2,152,129 shares of the stock traded hands. The stock has a market cap of $26.46 billion, a price-to-earnings ratio of 22.23 and a beta of 0.85. Progressive Corporation has a 12-month low of $30.54 and a 12-month high of $46.33. The firm’s 50-day moving average price is $42.89 and its 200-day moving average price is $39.38.

PGR has been the topic of a number of recent analyst reports. Bank of America Corporation raised shares of Progressive Corporation (The) from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $46.00 in a report on Monday, March 20th. Sandler O’Neill raised shares of Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, March 21st. Credit Suisse Group set a $39.00 price target on shares of Progressive Corporation (The) and gave the stock a “sell” rating in a report on Saturday, March 25th. FBR & Co increased their price target on shares of Progressive Corporation (The) from $30.00 to $35.00 and gave the stock a “mkt perform” rating in a report on Monday, April 3rd. Finally, Keefe, Bruyette & Woods raised shares of Progressive Corporation (The) from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $45.00 in a report on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. Progressive Corporation (The) has a consensus rating of “Buy” and an average target price of $43.53.

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In other news, 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 transaction, the insider now directly owns 151,051 shares in the company, valued at approximately $6,744,427.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the director now owns 59,963 shares of the company’s stock, valued at $2,669,552.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,100 shares of company stock valued at $3,168,605. 0.56% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PGR. Gulf International Bank UK Ltd boosted its position in Progressive Corporation (The) by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 177,678 shares of the insurance provider’s stock valued at $6,961,000 after buying an additional 2,500 shares during the period. Creative Planning raised its stake in Progressive Corporation (The) by 109.0% in the first quarter. Creative Planning now owns 5,700 shares of the insurance provider’s stock valued at $223,000 after buying an additional 2,973 shares in the last quarter. Confluence Investment Management LLC raised its stake in Progressive Corporation (The) by 1.9% in the first quarter. Confluence Investment Management LLC now owns 2,078,688 shares of the insurance provider’s stock valued at $81,443,000 after buying an additional 38,561 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Progressive Corporation (The) by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 506,290 shares of the insurance provider’s stock valued at $19,837,000 after buying an additional 15,514 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Progressive Corporation (The) during the fourth quarter valued at about $591,000. Institutional investors own 79.51% of the company’s stock.

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.

Earnings History for Progressive Corporation (The) (NYSE:PGR)

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