$0.99 Earnings Per Share Expected for The Progressive Co. (NYSE:PGR) This Quarter

Analysts forecast that The Progressive Co. ( NYSE : PGR – Get Rating ) will post earnings of $ 0.99 per share for the stream quarter, according to Zacks. Three analysts have made estimates for Progressive ’ randomness earnings, with estimates ranging from $ 0.67 to $ 1.14. Progressive posted earnings per share of $ 1.51 during the same quarter last year, which would indicate a negative year over year growth rate of 34.4 %. The company is expected to report its following quarterly earnings results on Monday, January 1st .
According to Zacks, analysts expect that Progressive will report full year earnings of $ 4.77 per partake for the current fiscal year, with EPS estimates ranging from $ 3.78 to $ 5.87. For the adjacent fiscal class, analysts expect that the firm will post earnings of $ 6.34 per plowshare, with EPS estimates ranging from $ 5.55 to $ 7.54. Zacks ’ earnings per share averages are an average based on a review of sell-side research analysts that cover Progressive .

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Progressive ( NYSE : PGR – Get Rating ) last released its earnings results on Thursday, April 14th. The indemnity provider reported $ 1.12 earnings per share for the quarter, missing analysts ’ consensus estimates of $ 1.24 by ( $ 0.12 ). Progressive had a return on equity of 12.85 % and a net margin of 4.54 %. The firm had tax income of $ 12.29 billion during the quarter, compared to analyst estimates of $ 12.24 billion .

A number of research analysts recently issued reports on the company. Morgan Stanley raised Progressive from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $85.00 to $115.00 in a report on Monday, May 9th. A number of inquiry analysts recently issued reports on the company. Morgan Stanley raised Progressive from an “ scraggy ” evaluation to an “ equal slant ” rat and lifted their aim price for the stock from $ 85.00 to $ 115.00 in a report on Monday, May 9th. StockNews.com began coverage on shares of Progressive in a inquiry note on Thursday, March 31st. They issued a “ deem ” evaluation on the stock. Raymond James increased their prey price on shares of Progressive from $ 125.00 to $ 130.00 and gave the company an “ surpass ” rate in a research note on Friday, March 18th. Barclays lifted their price target on shares of Progressive from $ 88.00 to $ 90.00 and gave the livestock an “ scraggy ” fink in a research report on Thursday, May 19th. ultimately, Wells Fargo & Company upped their price aim on Progressive from $ 88.00 to $ 96.00 and gave the company an “ scraggy ” rat in a report card on Tuesday, April 12th. Six inquiry analysts have rated the sprout with a sell rate, nine have given a bear rate and three have assigned a buy denounce to the stock. According to MarketBeat.com, Progressive has an average rate of “ Hold ” and a consensus price target of $ 106.13. PGR opened at $ 118.47 on Thursday. The company has a debt-to-equity proportion of 0.39, a quick ratio of 0.33 and a stream ratio of 0.33. The caller has a grocery store capitalization of $ 69.29 billion, a PE ratio of 32.19, a P/E/G ratio of 1.45 and a beta of 0.49. The lineage ’ s fifty dollar bill day moving average is $ 113.09 and its 200-day moving average is $ 106.88. Progressive has a one year low of $ 89.35 and a one year high of $ 120.48 .
progressive declared that its Board of Directors has approved a partake redemption design on Wednesday, May 18th that authorizes the party to buyback 25,000,000 outstanding shares. This redemption authority authorizes the indemnity supplier to buy shares of its lineage through open marketplace purchases. Shares redemption plans are often an reading that the company ’ s dining table believes its broth is undervalued .
The company besides recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of commemorate on Thursday, July 7th will be issued a dividend of $ 0.10 per plowshare. The ex-dividend date is Wednesday, July 6th. This represents a $ 0.40 annualized dividend and a dividend give way of 0.34 %. progressive ’ south dividend payout ratio is 10.87 %.

In associate newsworthiness, CEO Susan Patricia Griffith sold 46,735 shares of the stock in a transaction that occurred on Friday, March 18th. The banal was sold at an average price of $ 110.26, for a total transaction of $ 5,153,001.10. The sale was disclosed in a file with the Securities & Exchange Commission, which is accessible through this hyperlink. besides, insider Daniel P. Mascaro sold 558 shares of the company ’ south stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $ 112.94, for a total rate of $ 63,020.52. Following the transaction, the insider now owns 38,887 shares of the company ’ randomness store, valued at $ 4,391,897.78. The disclosure for this sale can be found hera. Over the last 90 days, insiders sold 74,285 shares of ship’s company stock valued at $ 8,350,944. corporate insiders own 0.37 % of the company ’ s stock .
A numeral of hedge funds have recently made changes to their positions in PGR. Vanguard Group Inc. lifted its place in shares of Progressive by 2.6 % in the first draw. Vanguard Group Inc. now owns 48,453,671 shares of the insurance supplier ’ s neckcloth worth $ 5,523,234,000 after acquiring an extra 1,250,492 shares during the period. BlackRock Inc. raised its interest in shares of Progressive by 3.1 % in the fourthly one-fourth. BlackRock Inc. now owns 45,790,327 shares of the indemnity provider ’ second banal valued at $ 4,700,376,000 after purchasing an extra 1,393,588 shares in the last quarter. Wellington Management Group LLP lifted its placement in Progressive by 17.6 % in the beginning quarter. Wellington Management Group LLP now owns 33,242,101 shares of the policy provider ’ mho livestock worth $ 3,789,267,000 after purchasing an extra 4,980,478 shares during the time period. State Street Corp boosted its stake in Progressive by 2.2 % during the fourth quarter. State Street Corp now owns 27,182,740 shares of the insurance supplier ’ sulfur stock worth $ 2,790,308,000 after buying an extra 572,891 shares in the last quarter. last, Capital World Investors increased its holdings in Progressive by 0.5 % in the first quarter. Capital World Investors now owns 9,002,404 shares of the insurance provider ’ s stock valued at $ 1,026,184,000 after buying an extra 46,799 shares during the period. 83.68 % of the stock is presently owned by institutional investors and hedge funds .
About Progressive ( Get Rating )
The Progressive Corporation, an indemnity holding company, provides personal and commercial car, personal residential and commercial property, general liability, and other specialization property-casualty policy products and related services in the United States. It operates in three segments : Personal Lines, Commercial Lines, and Property .
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