Equities analysts predict that Progressive Corporation (The) (NYSE:PGR) will post earnings per share of $0.68 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Progressive Corporation (The)’s earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.60. Progressive Corporation (The) reported earnings per share of $0.62 during the same quarter last year, which would indicate a positive year over year growth rate of 9.7%. The company is expected to announce its next quarterly earnings results on Wednesday, January 24th.

According to Zacks, 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 $2.25 to $2.53. For the next fiscal year, analysts forecast that the firm will report earnings of $2.86 per share, with EPS estimates ranging from $2.60 to $3.45. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Progressive Corporation (The).

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. Progressive Corporation (The) had a net margin of 5.41% and a return on equity of 15.40%. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $7.04 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis.

A number of brokerages have recently issued reports on PGR. ValuEngine cut shares of Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. FBR & Co reiterated a “hold” rating on shares of Progressive Corporation (The) in a report on Tuesday, October 17th. Wells Fargo & Company set a $47.00 price objective on shares of Progressive Corporation (The) and gave the company a “hold” rating in a report on Tuesday, October 17th. Citigroup Inc. lifted their price objective on shares of Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Finally, Barclays PLC lifted their price objective on shares of Progressive Corporation (The) from $41.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $46.44.

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In other Progressive Corporation (The) news, insider Steven Broz sold 1,250 shares of Progressive Corporation (The) stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total value of $60,912.50. Following the sale, the insider now owns 12,181 shares of the company’s stock, valued at $593,580.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey W. Basch sold 9,000 shares of Progressive Corporation (The) stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the sale, the insider now directly owns 70,965 shares in the company, valued at approximately $3,422,641.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,250 shares of company stock worth $4,923,983. Insiders own 0.56% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Creative Planning raised its position in Progressive Corporation (The) by 0.4% in the second quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 23 shares during the period. Financial Architects Inc raised its position in Progressive Corporation (The) by 0.4% in the second quarter. Financial Architects Inc now owns 18,187 shares of the insurance provider’s stock worth $801,000 after acquiring an additional 65 shares during the period. ING Groep NV raised its position in Progressive Corporation (The) by 0.3% in the second quarter. ING Groep NV now owns 39,707 shares of the insurance provider’s stock worth $1,751,000 after acquiring an additional 112 shares during the period. Weatherly Asset Management L. P. raised its position in Progressive Corporation (The) by 1.8% in the second quarter. Weatherly Asset Management L. P. now owns 7,320 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 130 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in Progressive Corporation (The) by 4.1% in the second quarter. Cornerstone Advisors Inc. now owns 3,404 shares of the insurance provider’s stock worth $150,000 after acquiring an additional 133 shares during the period. 79.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of Progressive Corporation (NYSE:PGR) traded up 0.27% during midday trading on Tuesday, reaching $49.03. 3,221,407 shares of the company’s stock traded hands. Progressive Corporation has a 12 month low of $30.99 and a 12 month high of $49.75. The stock has a market cap of $28.49 billion, a P/E ratio of 20.86 and a beta of 0.87. The stock has a 50 day moving average of $47.75 and a 200-day moving average of $44.92.

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.

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

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