Progressive (NYSE:PGR) announced its quarterly earnings results on Wednesday. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09, Bloomberg Earnings reports. Progressive had a return on equity of 28.12% and a net margin of 9.19%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the business earned $1.57 EPS. Progressive’s revenue was up 11.8% compared to the same quarter last year.

PGR stock opened at $72.87 on Thursday. Progressive has a fifty-two week low of $56.71 and a fifty-two week high of $84.96. The business’s 50 day moving average price is $75.66 and its two-hundred day moving average price is $77.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $44.26 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, October 7th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, October 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. Progressive’s dividend payout ratio (DPR) is 9.05%.

In other Progressive news, insider John Jo Murphy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $81.11, for a total transaction of $973,320.00. Following the transaction, the insider now owns 24,867 shares in the company, valued at approximately $2,016,962.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Susan Patricia Griffith sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $76.47, for a total value of $1,720,575.00. Following the transaction, the chief executive officer now owns 352,795 shares in the company, valued at approximately $26,978,233.65. The disclosure for this sale can be found here. Insiders have sold a total of 46,500 shares of company stock worth $3,624,855 in the last quarter. Company insiders own 0.39% of the company’s stock.

PGR has been the topic of a number of research analyst reports. Janney Montgomery Scott initiated coverage on Progressive in a report on Thursday, June 20th. They set a “neutral” rating and a $59.00 price target on the stock. Wells Fargo & Co set a $78.00 price target on Progressive and gave the company a “hold” rating in a report on Friday, September 13th. ValuEngine downgraded Progressive from a “hold” rating to a “sell” rating in a report on Tuesday. UBS Group upped their target price on Progressive from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Barclays set a $90.00 target price on Progressive and gave the stock a “buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $82.83.

Progressive Company Profile

The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.

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Earnings History for Progressive (NYSE:PGR)

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