Progressive Corp (NYSE:PGR) – Stock analysts at William Blair issued their Q1 2019 earnings per share (EPS) estimates for Progressive in a research note issued on Wednesday. William Blair analyst A. Klauber anticipates that the insurance provider will post earnings per share of $1.10 for the quarter. William Blair also issued estimates for Progressive’s Q2 2019 earnings at $0.80 EPS and Q3 2019 earnings at $0.94 EPS.

Progressive (NYSE:PGR) last issued its quarterly earnings data on Tuesday, October 17th. The insurance provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $7.04 billion. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS.

A number of other brokerages have also issued reports on PGR. Keefe, Bruyette & Woods restated a “buy” rating and issued a $58.00 target price on shares of Progressive in a research note on Friday, November 17th. B. Riley restated a “hold” rating and issued a $46.00 target price on shares of Progressive in a research note on Wednesday, November 15th. Credit Suisse Group restated a “hold” rating and issued a $48.00 target price on shares of Progressive in a research note on Friday. Wells Fargo & Company restated a “hold” rating and issued a $47.00 target price on shares of Progressive in a research note on Tuesday, September 19th. Finally, UBS cut their target price on shares of Progressive from $53.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Progressive has an average rating of “Hold” and an average target price of $50.41.

Shares of Progressive (PGR) traded up $0.32 during trading on Thursday, hitting $55.46. 5,240,391 shares of the stock were exchanged, compared to its average volume of 2,845,431. The firm has a market cap of $32,069.42, a price-to-earnings ratio of 24.08, a PEG ratio of 3.12 and a beta of 0.94. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive has a 1-year low of $35.23 and a 1-year high of $56.23.

Several large investors have recently made changes to their positions in PGR. Janus Henderson Group PLC grew its position in shares of Progressive by 8,999.0% during the 2nd quarter. Janus Henderson Group PLC now owns 6,472,777 shares of the insurance provider’s stock valued at $285,384,000 after buying an additional 6,401,640 shares during the last quarter. William Blair Investment Management LLC grew its position in Progressive by 24,360.1% in the 2nd quarter. William Blair Investment Management LLC now owns 4,799,062 shares of the insurance provider’s stock worth $211,591,000 after purchasing an additional 4,779,442 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Progressive by 40.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 11,586,365 shares of the insurance provider’s stock worth $510,843,000 after purchasing an additional 3,332,180 shares during the last quarter. Bank of New York Mellon Corp grew its position in Progressive by 55.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,492,446 shares of the insurance provider’s stock worth $362,783,000 after purchasing an additional 2,687,224 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Progressive by 49.2% in the 3rd quarter. Wells Fargo & Company MN now owns 6,780,314 shares of the insurance provider’s stock worth $328,303,000 after purchasing an additional 2,234,425 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.

In related news, insider Jeffrey W. Basch sold 9,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total transaction of $434,070.00. Following the completion of the sale, the insider now owns 70,965 shares of the company’s stock, valued at approximately $3,422,641.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider M Jeffrey Charney sold 6,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $48.90, for a total transaction of $293,400.00. Following the sale, the insider now directly owns 108,038 shares of the company’s stock, valued at approximately $5,283,058.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,000 shares of company stock valued at $1,024,470. Insiders own 0.56% of the company’s stock.

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Progressive 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 the Personal Lines, Commercial Lines and Property segments.

Earnings History and Estimates for Progressive (NYSE:PGR)

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