Cantor Fitzgerald Weighs in on Progressive FY2025 Earnings

The Progressive Corporation (NYSE:PGR) – Cantor Fitzgerald lowered their FY2025 earnings estimates for Progressive in a note issued to investors on Wednesday, November 5th. Cantor Fitzgerald analyst R. Tunis now forecasts that the insurance provider will post earnings per share of $17.23 for the year, down from their prior estimate of $17.43. Cantor Fitzgerald currently has a “Hold” rating on the stock. The consensus estimate for Progressive’s current full-year earnings is $14.68 per share.

Progressive (NYSE:PGR) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.04 by ($0.59). Progressive had a return on equity of 33.88% and a net margin of 12.57%.The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.64 billion. During the same quarter last year, the business posted $3.58 earnings per share.

PGR has been the topic of several other reports. UBS Group dropped their price objective on shares of Progressive from $268.00 to $261.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating on shares of Progressive in a research report on Monday. Bank of America boosted their target price on shares of Progressive from $350.00 to $351.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Jefferies Financial Group decreased their target price on shares of Progressive from $309.00 to $287.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Finally, Wall Street Zen lowered shares of Progressive from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $267.96.

Progressive Stock Performance

Shares of PGR opened at $209.14 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.31 and a current ratio of 0.32. The stock has a market capitalization of $122.60 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.19 and a beta of 0.29. The company’s fifty day moving average is $234.86 and its two-hundred day moving average is $252.72. Progressive has a 1 year low of $199.90 and a 1 year high of $292.99.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Thursday, October 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, October 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s payout ratio is currently 2.19%.

Insiders Place Their Bets

In related news, insider Steven Broz sold 1,345 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $242.10, for a total value of $325,624.50. Following the sale, the insider directly owned 30,388 shares in the company, valued at $7,356,934.80. The trade was a 4.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patrick K. Callahan sold 6,420 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $242.22, for a total transaction of $1,555,052.40. Following the completion of the sale, the insider owned 15,192 shares in the company, valued at $3,679,806.24. This represents a 29.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 58,500 shares of company stock worth $14,430,089. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGR. Norges Bank purchased a new position in Progressive in the 2nd quarter valued at about $2,156,939,000. Nuveen LLC purchased a new position in Progressive in the 1st quarter valued at about $1,473,180,000. GQG Partners LLC lifted its holdings in Progressive by 61.4% in the 1st quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider’s stock valued at $2,362,039,000 after purchasing an additional 3,174,632 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Progressive by 32.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider’s stock valued at $2,928,141,000 after acquiring an additional 2,709,417 shares during the last quarter. Finally, C WorldWide Group Holding A S lifted its holdings in shares of Progressive by 12,110.3% during the 1st quarter. C WorldWide Group Holding A S now owns 1,248,628 shares of the insurance provider’s stock worth $353,374,000 after acquiring an additional 1,238,402 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.