Brokerages expect that Progressive Corp (NYSE:PGR) will post earnings of $0.93 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Progressive’s earnings, with the highest EPS estimate coming in at $1.09 and the lowest estimate coming in at $0.82. Progressive reported earnings of $0.67 per share during the same quarter last year, which indicates a positive year over year growth rate of 38.8%. The company is scheduled to issue its next quarterly earnings report on Tuesday, April 17th.
According to Zacks, analysts expect that Progressive will report full-year earnings of $3.41 per share for the current financial year, with EPS estimates ranging from $3.20 to $3.95. For the next year, analysts expect that the firm will report earnings of $3.75 per share, with EPS estimates ranging from $3.50 to $4.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Progressive.
Progressive (NYSE:PGR) last released its earnings results on Wednesday, January 24th. The insurance provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. Progressive had a return on equity of 15.96% and a net margin of 5.93%. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share.
In related news, insider William M. Cody sold 25,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $56.10, for a total value of $1,402,500.00. Following the completion of the sale, the insider now owns 137,722 shares in the company, valued at $7,726,204.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.
Large investors have recently bought and sold shares of the business. Exane Derivatives acquired a new position in Progressive in the fourth quarter valued at about $104,000. First Personal Financial Services grew its stake in Progressive by 101.8% in the fourth quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 1,111 shares during the period. Balentine LLC grew its stake in Progressive by 3,273.0% in the third quarter. Balentine LLC now owns 2,496 shares of the insurance provider’s stock valued at $121,000 after acquiring an additional 2,422 shares during the period. MUFG Americas Holdings Corp grew its stake in Progressive by 824.9% in the fourth quarter. MUFG Americas Holdings Corp now owns 3,561 shares of the insurance provider’s stock valued at $201,000 after acquiring an additional 3,176 shares during the period. Finally, Greenwood Capital Associates LLC acquired a new position in Progressive in the fourth quarter valued at about $206,000. 79.40% of the stock is owned by hedge funds and other institutional investors.
Shares of Progressive (PGR) opened at $51.07 on Friday. The firm has a market capitalization of $31,060.00, a price-to-earnings ratio of 18.71, a PEG ratio of 2.11 and a beta of 0.82. Progressive has a 52-week low of $36.88 and a 52-week high of $58.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.37.
The business also recently disclosed an annual dividend, which will be paid on Friday, February 9th. Investors of record on Friday, February 2nd will be issued a $1.125 dividend. The ex-dividend date is Thursday, February 1st. This represents a yield of 0.0203325501536237%. Progressive’s dividend payout ratio is presently 41.03%.
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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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