The Progressive Corporation (NYSE:PGR – Free Report) – Stock analysts at DOWLING & PARTN issued their FY2028 earnings estimates for Progressive in a research report issued on Thursday, June 18th. DOWLING & PARTN analyst D. Lukpanov forecasts that the insurance provider will post earnings per share of $14.96 for the year. The consensus estimate for Progressive’s current full-year earnings is $16.82 per share.
Progressive (NYSE:PGR – Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The insurance provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.13. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $23.51 billion. Progressive had a return on equity of 33.47% and a net margin of 12.92%.The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.37 EPS.
Read Our Latest Analysis on PGR
Progressive Price Performance
Shares of PGR opened at $207.62 on Tuesday. Progressive has a fifty-two week low of $189.20 and a fifty-two week high of $267.92. The firm’s 50-day simple moving average is $200.16 and its two-hundred day simple moving average is $206.94. The stock has a market cap of $121.32 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 6.31 and a beta of 0.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27.
Institutional Trading of Progressive
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bard Associates Inc. bought a new position in shares of Progressive during the 4th quarter valued at approximately $27,000. Dagco Inc. bought a new stake in Progressive during the 4th quarter worth approximately $28,000. Bogart Wealth LLC lifted its holdings in Progressive by 235.1% during the first quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Ameriflex Group Inc. increased its stake in shares of Progressive by 106.6% in the third quarter. Ameriflex Group Inc. now owns 126 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. bought a new stake in shares of Progressive during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Insider Buying and Selling
In other Progressive news, insider Steven Broz sold 1,157 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $231,400.00. Following the completion of the sale, the insider directly owned 28,668 shares in the company, valued at approximately $5,733,600. The trade was a 3.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $200.00, for a total value of $1,183,200.00. Following the sale, the insider owned 41,290 shares of the company’s stock, valued at approximately $8,258,000. This trade represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is owned by corporate insiders.
Progressive Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, July 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive’s dividend payout ratio is 2.03%.
About Progressive
Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.
The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.
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