Wall Street brokerages expect Progressive Corp (NYSE:PGR) to report $0.72 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Progressive’s earnings, with estimates ranging from $0.66 to $0.87. Progressive reported earnings per share of $0.62 during the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that Progressive will report full year earnings of $2.39 per share for the current financial year, with EPS estimates ranging from $2.29 to $2.54. For the next year, analysts anticipate that the business will report earnings of $2.90 per share, with EPS estimates ranging from $2.70 to $3.45. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Progressive.

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

A number of analysts recently issued reports on PGR shares. Barclays lifted their price target on shares of Progressive from $39.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. BidaskClub upgraded shares of Progressive from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Progressive in a report on Wednesday, August 16th. Citigroup upped their price objective on shares of Progressive from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Finally, ValuEngine raised shares of Progressive from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Progressive presently has an average rating of “Hold” and a consensus target price of $48.35.

Progressive (NYSE:PGR) traded up $0.42 during midday trading on Friday, hitting $53.60. 3,300,000 shares of the stock were exchanged, compared to its average volume of 2,699,711. Progressive has a twelve month low of $33.28 and a twelve month high of $54.00. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $30,929.49, a PE ratio of 23.22, a P/E/G ratio of 3.03 and a beta of 0.94.

In related news, insider M Jeffrey Charney sold 6,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $48.90, for a total value of $293,400.00. Following the transaction, the insider now owns 108,038 shares in the company, valued at $5,283,058.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey W. Basch sold 9,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the transaction, the insider now owns 70,965 shares in the company, valued at approximately $3,422,641.95. The disclosure for this sale can be found here. Insiders sold 21,000 shares of company stock worth $1,024,470 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PGR. Creative Planning boosted its position in Progressive by 0.4% during the second quarter. Creative Planning now owns 5,723 shares of the insurance provider’s stock worth $252,000 after purchasing an additional 23 shares during the period. APG Asset Management N.V. boosted its position in Progressive by 70.8% during the second quarter. APG Asset Management N.V. now owns 116,081 shares of the insurance provider’s stock worth $5,118,000 after purchasing an additional 48,100 shares during the period. Janney Montgomery Scott LLC boosted its position in Progressive by 91.4% during the second quarter. Janney Montgomery Scott LLC now owns 28,189 shares of the insurance provider’s stock worth $1,243,000 after purchasing an additional 13,459 shares during the period. Great West Life Assurance Co. Can boosted its position in Progressive by 35.8% during the second quarter. Great West Life Assurance Co. Can now owns 647,468 shares of the insurance provider’s stock worth $28,501,000 after purchasing an additional 170,515 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Progressive by 1.6% during the second quarter. CIBC Asset Management Inc now owns 53,956 shares of the insurance provider’s stock worth $2,379,000 after purchasing an additional 844 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

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About Progressive

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 (NYSE:PGR)

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