Progressive Corp (NYSE:PGR) – Stock analysts at B. Riley issued their Q4 2017 EPS estimates for Progressive in a report released on Monday. B. Riley analyst R. Binner anticipates that the insurance provider will earn $0.64 per share for the quarter. B. Riley currently has a “Hold” rating and a $46.00 target price on the stock.

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

A number of other equities research analysts also recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Progressive in a research report on Monday. They issued a “buy” rating and a $57.00 price target for the company. UBS restated a “buy” rating and set a $62.00 price objective on shares of Progressive in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and set a $58.00 price objective on shares of Progressive in a research report on Friday, November 17th. MKM Partners boosted their price objective on shares of Progressive to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Wells Fargo & Company set a $50.00 price objective on shares of Progressive and gave the company a “hold” rating in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Progressive currently has a consensus rating of “Hold” and a consensus target price of $49.71.

Shares of Progressive (NYSE PGR) opened at $54.25 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50. Progressive has a 1 year low of $33.33 and a 1 year high of $54.75. The firm has a market cap of $31,615.78, a P/E ratio of 23.74, a PEG ratio of 3.10 and a beta of 0.94.

In other Progressive news, insider Jeffrey W. Basch sold 9,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the sale, the insider now owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total transaction of $297,000.00. Following the sale, the chief marketing officer now directly owns 102,038 shares in the company, valued at approximately $5,050,881. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,000 shares of company stock worth $1,024,470. Insiders own 0.56% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PGR. Mckinley Capital Management LLC Delaware bought a new stake in shares of Progressive during the second quarter worth $101,000. Balentine LLC grew its stake in shares of Progressive by 3,273.0% during the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock worth $121,000 after buying an additional 2,422 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Progressive 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 buying an additional 341 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of Progressive during the second quarter worth $143,000. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Progressive by 12.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,727 shares of the insurance provider’s stock worth $165,000 after buying an additional 427 shares during the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

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Progressive 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.

Earnings History and Estimates for Progressive (NYSE:PGR)

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