Progressive Corp. (NYSE:PGR) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 13th. Analysts expect Progressive Corp. to post earnings of $0.36 per share for the quarter.

Progressive Corp. (NYSE:PGR) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.01. The business earned $5.93 billion during the quarter. Progressive Corp. had a net margin of 4.80% and a return on equity of 13.57%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, analysts expect Progressive Corp. to post $1.60 EPS for the current fiscal year and $2.02 EPS for the next fiscal year.

Earnings History for Progressive Corp. (NYSE:PGR)

Progressive Corp. (NYSE:PGR) opened at 31.41 on Tuesday. Progressive Corp. has a 52-week low of $29.32 and a 52-week high of $35.54. The company has a 50-day moving average price of $31.65 and a 200 day moving average price of $32.81. The company has a market capitalization of $18.28 billion, a PE ratio of 17.45 and a beta of 0.73.

In other Progressive Corp. news, insider M Jeffrey Charney sold 7,000 shares of Progressive Corp. stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $32.50, for a total value of $227,500.00. Following the transaction, the insider now directly owns 71,961 shares of the company’s stock, valued at $2,338,732.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Broz sold 2,500 shares of Progressive Corp. stock in a transaction on Friday, July 15th. The stock was sold at an average price of $33.17, for a total transaction of $82,925.00. Following the completion of the transaction, the insider now directly owns 9,420 shares in the company, valued at $312,461.40. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Progressive Corp. by 24.2% in the second quarter. Van ECK Associates Corp now owns 4,833 shares of the company’s stock valued at $162,000 after buying an additional 943 shares in the last quarter. Advisor Group Inc. purchased a new position in Progressive Corp. during the second quarter valued at about $270,000. Advisor Partners LLC raised its position in Progressive Corp. by 3.0% in the second quarter. Advisor Partners LLC now owns 8,209 shares of the company’s stock valued at $275,000 after buying an additional 241 shares in the last quarter. Gideon Capital Advisors Inc. purchased a new position in Progressive Corp. during the second quarter valued at about $367,000. Finally, Wetherby Asset Management Inc. raised its position in Progressive Corp. by 0.9% in the second quarter. Wetherby Asset Management Inc. now owns 11,254 shares of the company’s stock valued at $377,000 after buying an additional 101 shares in the last quarter. 76.53% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on PGR shares. FBR & Co reissued a “hold” rating on shares of Progressive Corp. in a research note on Thursday, June 16th. MKM Partners reissued a “buy” rating and issued a $40.00 price objective on shares of Progressive Corp. in a research note on Thursday, June 23rd. Argus reissued a “hold” rating and issued a $33.00 price objective on shares of Progressive Corp. in a research note on Monday, July 18th. Zacks Investment Research downgraded shares of Progressive Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a $28.00 price objective on shares of Progressive Corp. and gave the stock a “sell” rating in a research note on Tuesday, August 23rd. Five analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $32.16.

About Progressive Corp.

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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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