Progressive Corp to Post Q1 2019 Earnings of $1.10 Per Share, William Blair Forecasts (PGR)
Progressive Corp (NYSE:PGR) – Equities research analysts at William Blair issued their Q1 2019 earnings per share (EPS) estimates for shares of Progressive in a note issued to investors on Wednesday. William Blair analyst A. Klauber expects that the insurance provider will earn $1.10 per share for the quarter. William Blair also issued estimates for Progressive’s Q2 2019 earnings at $0.80 EPS and Q3 2019 earnings at $0.94 EPS.
Progressive (NYSE:PGR) last released its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.04 billion. Progressive had a return on equity of 15.40% and a net margin of 5.41%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS.
Progressive (NYSE:PGR) traded down $0.72 during midday trading on Thursday, hitting $55.14. The stock had a trading volume of 3,069,152 shares, compared to its average volume of 3,081,811. The firm has a market cap of $32,075.24, a price-to-earnings ratio of 24.08, a P/E/G ratio of 3.14 and a beta of 0.94. Progressive has a fifty-two week low of $35.11 and a fifty-two week high of $56.23. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36.
A number of large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in Progressive by 16.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,282,097 shares of the insurance provider’s stock valued at $62,079,000 after purchasing an additional 178,930 shares during the period. Public Employees Retirement System of Ohio boosted its position in Progressive by 145.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 898,307 shares of the insurance provider’s stock valued at $43,496,000 after purchasing an additional 532,117 shares during the period. GSA Capital Partners LLP boosted its position in Progressive by 31.3% during the 3rd quarter. GSA Capital Partners LLP now owns 7,736 shares of the insurance provider’s stock valued at $375,000 after purchasing an additional 1,846 shares during the period. Coastline Trust Co acquired a new position in Progressive during the 3rd quarter worth $271,000. Finally, Sterling Capital Management LLC boosted its position in Progressive by 96.7% during the 3rd quarter. Sterling Capital Management LLC now owns 121,220 shares of the insurance provider’s stock worth $5,869,000 after acquiring an additional 59,580 shares during the period. Institutional investors and hedge funds own 79.55% of the company’s stock.
In other news, insider Jeffrey W. Basch sold 9,000 shares of the business’s 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 sale, the insider now directly owns 70,965 shares in the company, valued at approximately $3,422,641.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the sale, the chief marketing officer now owns 102,038 shares of the company’s stock, valued at $5,050,881. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock valued at $1,024,470 over the last quarter. Company insiders own 0.56% of the company’s stock.
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.
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