Q2 2024 Earnings Estimate for The Progressive Co. (NYSE:PGR) Issued By Roth Capital
The Progressive Co. (NYSE:PGR – Free Report) – Investment analysts at Roth Capital increased their Q2 2024 earnings per share (EPS) estimates for Progressive in a research note issued on Thursday, May 16th. Roth Capital analyst H. Fong now anticipates that the insurance provider will post earnings of $2.38 per share for the quarter, up from their prior forecast of $2.00. The consensus estimate for Progressive’s current full-year earnings is $11.53 per share. Roth Capital also issued estimates for Progressive’s Q3 2024 earnings at $2.26 EPS, FY2024 earnings at $11.00 EPS and Q2 2025 earnings at $2.19 EPS. Other research analysts have also recently issued reports about the company. UBS Group boosted their target price on Progressive from $216.00 to $218.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their target price on Progressive from $232.00 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. BMO Capital Markets boosted their target price on Progressive from $234.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Progressive from $171.00 to $202.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Jefferies Financial Group boosted their target price on Progressive from $241.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $214.88. Check Out Our Latest Stock Report on Progressive Progressive Stock Up 1.1 % Shares of Progressive stock opened at $209.22 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.32. Progressive has a 12 month low of $111.41 and a 12 month high of $217.77. The business has a fifty day simple moving average of $208.37 and a 200 day simple moving average of $183.91. The stock has a market cap of $122.54 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 0.81 and a beta of 0.34. Progressive (NYSE:PGR – Get Free Report) last released its earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.74. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. Institutional Trading of Progressive Large investors have recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of Progressive in the 4th quarter valued at $25,000. Northwest Bank & Trust Co bought a new position in Progressive in the fourth quarter valued at about $25,000. Valley National Advisers Inc. lifted its holdings in shares of Progressive by 143.6% in the fourth quarter. Valley National Advisers Inc. now owns 190 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 112 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in shares of Progressive in the 1st quarter valued at approximately $32,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Progressive during the 1st quarter valued at approximately $35,000. Institutional investors and hedge funds own 85.34% of the company’s stock. Insiders Place Their Bets In other news, insider Patrick K. Callahan sold 29,675 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Patrick K. Callahan sold 29,675 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $190.26, for a total value of $5,645,965.50. Following the completion of the sale, the insider now directly owns 15,189 shares in the company, valued at approximately $2,889,859.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen Bailo sold 8,464 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $189.49, for a total value of $1,603,843.36. Following the transaction, the insider now owns 32,342 shares in the company, valued at approximately $6,128,485.58. The disclosure for this sale can be found here. Insiders have sold a total of 46,500 shares of company stock valued at $8,983,706 over the last 90 days. 0.34% of the stock is currently owned by insiders. Progressive Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Wednesday, July 3rd. Progressive’s dividend payout ratio (DPR) is presently 4.09%. Progressive Company Profile (Get Free Report) 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.
Why Progressive (PGR) Outpaced the Stock Market Today
Progressive (PGR) closed at $209.22 in the latest trading session, marking a +1.07% move from the prior day.
Progressive's (PGR) April Earnings Rise on Higher Premiums
Progressive's (PGR) April results reflect higher revenues and lower expenses.
