William Blair Predicts Progressive’s Q4 Earnings (NYSE:PGR)

The Progressive Co. (NYSE:PGR) – Analysts at William Blair lifted their Q4 2024 earnings per share estimates for Progressive in a report issued on Tuesday, October 15th. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $3.95 per share for the quarter, up from their previous forecast of $3.93. The consensus estimate for Progressive’s current full-year earnings is $13.07 per share. William Blair also issued estimates for Progressive’s Q2 2025 earnings at $3.20 EPS, Q3 2025 earnings at $3.37 EPS and FY2025 earnings at $15.17 EPS.

Progressive (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 16th. The insurance provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.61. Progressive had a return on equity of 33.01% and a net margin of 10.17%. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.54 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year.

PGR has been the subject of a number of other research reports. Evercore ISI upped their price objective on Progressive from $243.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com downgraded Progressive from a “buy” rating to a “hold” rating in a report on Wednesday. HSBC upgraded Progressive from a “hold” rating to a “buy” rating and set a $253.00 price objective for the company in a report on Monday, August 12th. Hsbc Global Res upgraded Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Piper Sandler upped their price objective on Progressive from $250.00 to $252.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.19.

Progressive Trading Down 1.6 %

Shares of PGR opened at $251.34 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.30. Progressive has a 12-month low of $149.14 and a 12-month high of $260.46. The firm has a market capitalization of $147.21 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. The stock’s fifty day simple moving average is $248.22 and its 200-day simple moving average is $223.76.

Progressive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, October 3rd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Thursday, October 3rd. Progressive’s dividend payout ratio is presently 4.09%.

Insider Activity at Progressive

In related news, CFO John P. Sauerland sold 22,708 shares of Progressive stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the sale, the chief financial officer now owns 302,958 shares of the company’s stock, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO John P. Sauerland sold 22,708 shares of Progressive stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $214.01, for a total value of $4,859,739.08. Following the sale, the chief financial officer now owns 302,958 shares of the company’s stock, valued at approximately $64,836,041.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dyke Kahina Van sold 2,180 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $252.28, for a total value of $549,970.40. Following the completion of the transaction, the director now owns 13,723 shares of the company’s stock, valued at approximately $3,462,038.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,383 shares of company stock valued at $33,446,453. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PGR. Davis Capital Management bought a new position in Progressive in the third quarter valued at approximately $25,000. WR Wealth Planners LLC boosted its stake in shares of Progressive by 119.6% during the 2nd quarter. WR Wealth Planners LLC now owns 123 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 67 shares during the period. Indiana Trust & Investment Management CO bought a new position in shares of Progressive during the 1st quarter worth approximately $32,000. Hilltop National Bank boosted its stake in shares of Progressive by 126.0% during the 2nd quarter. Hilltop National Bank now owns 165 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 92 shares during the period. Finally, Register Financial Advisors LLC bought a new position in shares of Progressive during the 1st quarter worth approximately $35,000. 85.34% of the stock is currently owned by 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.