Q4 2024 Earnings Estimate for The Progressive Co. (NYSE:PGR) Issued By Roth Capital

The Progressive Co. (NYSE:PGR) – Roth Capital boosted their Q4 2024 earnings per share estimates for Progressive in a research note issued on Wednesday, June 26th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of $2.68 per share for the quarter, up from their prior forecast of $2.62. The consensus estimate for Progressive’s current full-year earnings is $11.34 per share. Roth Capital also issued estimates for Progressive’s Q1 2025 earnings at $2.65 EPS and Q3 2025 earnings at $2.82 EPS.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price target on Progressive from $161.00 to $216.00 and gave the company a “neutral” rating in a report on Monday, March 25th. HSBC upped their target price on Progressive from $174.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price target on Progressive from $241.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Piper Sandler reiterated an “overweight” rating and set a $240.00 price target on shares of Progressive in a research report on Monday, April 1st. Finally, Wells Fargo & Company boosted their price target on Progressive from $243.00 to $254.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $216.81.

Progressive Trading Down 0.0 %

Shares of NYSE:PGR opened at $208.19 on Thursday. Progressive has a 12-month low of $111.41 and a 12-month high of $217.77. The company has a market capitalization of $121.94 billion, a PE ratio of 21.31, a PEG ratio of 0.80 and a beta of 0.35. The business has a 50 day moving average of $209.62 and a two-hundred day moving average of $192.86. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.32.

Progressive (NYSE:PGR) last announced its quarterly earnings results on Friday, April 12th. The insurance provider reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.74. Progressive had a return on equity of 29.43% and a net margin of 8.89%. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Progressive’s revenue for the quarter was up 17.7% on a year-over-year basis.

Institutional Investors Weigh In On Progressive

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Progressive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 51,751,851 shares of the insurance provider’s stock valued at $10,703,318,000 after purchasing an additional 285,070 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Progressive by 14.1% in the 3rd quarter. Wellington Management Group LLP now owns 21,554,503 shares of the insurance provider’s stock valued at $3,002,542,000 after acquiring an additional 2,666,449 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Progressive by 3.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,935,652 shares of the insurance provider’s stock valued at $2,378,951,000 after acquiring an additional 520,742 shares during the last quarter. Norges Bank purchased a new position in shares of Progressive in the 4th quarter valued at about $1,078,831,000. Finally, Deutsche Bank AG increased its holdings in shares of Progressive by 2.9% in the 3rd quarter. Deutsche Bank AG now owns 5,641,166 shares of the insurance provider’s stock valued at $785,814,000 after acquiring an additional 156,332 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Insider Activity

In related news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Devin C. Johnson sold 1,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $208.33, for a total transaction of $208,330.00. Following the transaction, the director now owns 7,176 shares of the company’s stock, valued at approximately $1,494,976.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven Broz sold 7,361 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $207.25, for a total value of $1,525,567.25. Following the transaction, the insider now directly owns 35,503 shares in the company, valued at approximately $7,357,996.75. The disclosure for this sale can be found here. Insiders have sold a total of 24,518 shares of company stock valued at $5,055,674 in the last quarter. Insiders own 0.34% of the company’s stock.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend 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

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.