Equities analysts expect Progressive Corporation (The) (NYSE:PGR) to post earnings per share (EPS) of $0.40 for the current quarter, Zacks reports. Four analysts have made estimates for Progressive Corporation (The)’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.55. Progressive Corporation (The) posted earnings per share of $0.36 in the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, October 17th.

On average, analysts expect that Progressive Corporation (The) will report full-year earnings of $2.36 per share for the current year, with EPS estimates ranging from $2.08 to $2.58. For the next fiscal year, analysts forecast that the company will report earnings of $2.82 per share, with EPS estimates ranging from $2.50 to $3.45. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Progressive Corporation (The).

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.01). Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.78 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis.

Several research firms recently issued reports on PGR. ValuEngine lowered Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Tuesday. MKM Partners reiterated a “buy” rating on shares of Progressive Corporation (The) in a report on Monday, September 25th. Wells Fargo & Company reiterated a “hold” rating and set a $47.00 target price on shares of Progressive Corporation (The) in a report on Tuesday, September 19th. Credit Suisse Group upgraded Progressive Corporation (The) from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $42.00 to $48.00 in a report on Wednesday, September 20th. Finally, UBS AG dropped their target price on Progressive Corporation (The) from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.00.

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In other news, insider Susan Patricia Griffith sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.66, for a total transaction of $1,703,100.00. Following the transaction, the insider now owns 221,715 shares in the company, valued at $10,788,651.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John P. Sauerland sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.65, for a total value of $2,432,500.00. Following the transaction, the chief financial officer now owns 370,364 shares in the company, valued at approximately $18,018,208.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,250 shares of company stock worth $4,196,513. 0.56% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new position in shares of Progressive Corporation (The) during the second quarter worth approximately $101,000. Cypress Capital Management LLC WY bought a new position in shares of Progressive Corporation (The) during the second quarter worth approximately $106,000. IFP Advisors Inc increased its stake in shares of Progressive Corporation (The) by 12.9% during the second quarter. IFP Advisors Inc now owns 2,984 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 341 shares during the period. Fiduciary Trust Co. bought a new position in shares of Progressive Corporation (The) during the second quarter worth approximately $143,000. Finally, Cornerstone Advisors Inc. increased its stake in shares of Progressive Corporation (The) by 4.1% during the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after purchasing an additional 133 shares during the period. Institutional investors own 79.41% of the company’s stock.

Shares of Progressive Corporation (PGR) traded down 0.24% on Thursday, hitting $49.05. The company had a trading volume of 2,757,466 shares. Progressive Corporation has a 12-month low of $30.99 and a 12-month high of $49.30. The firm has a market capitalization of $28.50 billion, a P/E ratio of 20.87 and a beta of 0.87. The firm has a 50 day moving average of $47.34 and a 200-day moving average of $43.97.

Progressive Corporation (The) Company Profile

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

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