Progressive Corp. (NYSE:PGR) – Stock analysts at Langen Mcalenn decreased their Q3 2017 earnings per share (EPS) estimates for shares of Progressive Corp. in a note issued to investors on Thursday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the firm will post earnings per share of $0.37 for the quarter, down from their prior estimate of $0.39.

Several other brokerages also recently weighed in on PGR. Argus reissued a “hold” rating and issued a $33.00 target price on shares of Progressive Corp. in a research note on Monday, July 18th. Credit Suisse Group AG set a $28.00 target price on shares of Progressive Corp. and gave the company a “sell” rating in a research note on Tuesday, August 23rd. Zacks Investment Research downgraded shares of Progressive Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. MKM Partners reissued a “buy” rating and issued a $40.00 target price on shares of Progressive Corp. in a research note on Thursday, June 23rd. Finally, Citigroup Inc. raised shares of Progressive Corp. from a “sell” rating to a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Progressive Corp. has a consensus rating of “Hold” and a consensus price target of $32.41.

Earnings History and Estimates for Progressive Corp. (NYSE:PGR)

Shares of Progressive Corp. (NYSE:PGR) traded up 1.02% during mid-day trading on Friday, reaching $32.81. 2,546,653 shares of the company traded hands. The company has a market capitalization of $19.09 billion, a P/E ratio of 18.23 and a beta of 0.73. The firm’s 50 day moving average price is $31.59 and its 200-day moving average price is $32.79. Progressive Corp. has a 52-week low of $29.32 and a 52-week high of $35.54.

Progressive Corp. (NYSE:PGR) last issued its earnings results on Thursday, October 13th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The firm earned $6.05 billion during the quarter. Progressive Corp. had a net margin of 4.80% and a return on equity of 13.57%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share.

In other Progressive Corp. news, insider Michael D. Sieger sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $32.93, for a total value of $105,376.00. Following the completion of the transaction, the insider now owns 49,755 shares in the company, valued at approximately $1,638,432.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider M Jeffrey Charney sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $32.50, for a total value of $227,500.00. Following the completion of the transaction, the insider now owns 71,961 shares of the company’s stock, valued at approximately $2,338,732.50. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PGR. Wetherby Asset Management Inc. boosted 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 worth $377,000 after buying an additional 101 shares in the last quarter. Conning Inc. boosted its position in Progressive Corp. by 1.5% in the second quarter. Conning Inc. now owns 13,607 shares of the company’s stock worth $456,000 after buying an additional 200 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Progressive Corp. by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,762 shares of the company’s stock worth $445,000 after buying an additional 228 shares in the last quarter. World Asset Management Inc boosted its position in Progressive Corp. by 0.4% in the second quarter. World Asset Management Inc now owns 59,810 shares of the company’s stock worth $2,004,000 after buying an additional 233 shares in the last quarter. Finally, Advisor Partners LLC boosted 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 worth $275,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 76.53% of the company’s stock.

Progressive Corp. 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 Personal Lines, Commercial Lines and Property segments.

5 Day Chart for NYSE:PGR

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