FY2025 EPS Estimates for Progressive Lifted by William Blair

The Progressive Co. (NYSE:PGR) – William Blair upped their FY2025 earnings per share (EPS) estimates for Progressive in a research report issued on Wednesday, January 29th. William Blair analyst A. Klauber now expects that the insurance provider will earn $15.24 per share for the year, up from their previous forecast of $15.13. The consensus estimate for Progressive’s current full-year earnings is $14.03 per share.

Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 34.32%.

A number of other brokerages have also issued reports on PGR. Bank of America lifted their target price on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Barclays lowered their price target on Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on shares of Progressive from $302.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group increased their target price on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets cut their price target on Progressive from $273.00 to $267.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Progressive Stock Down 1.0 %

NYSE:PGR opened at $246.78 on Friday. Progressive has a 1-year low of $176.37 and a 1-year high of $270.62. The firm has a market capitalization of $144.57 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $247.40 and its 200 day moving average price is $244.30.

Progressive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 9th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.16%. Progressive’s dividend payout ratio is presently 2.78%.

Insider Buying and Selling at Progressive

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $242.10, for a total value of $46,241.10. Following the sale, the chief accounting officer now directly owns 3,982 shares in the company, valued at $964,042.20. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $268.09, for a total value of $2,680,900.00. Following the transaction, the chief financial officer now owns 292,958 shares of the company’s stock, valued at approximately $78,539,110.22. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,361 shares of company stock valued at $13,983,575. 0.34% of the stock is currently owned by company insiders.

Institutional Trading of Progressive

A number of institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. grew its holdings in shares of Progressive by 21.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 262 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 46 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Progressive by 19.8% in the second quarter. EP Wealth Advisors LLC now owns 1,892 shares of the insurance provider’s stock valued at $393,000 after purchasing an additional 313 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Progressive by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 68,273 shares of the insurance provider’s stock worth $14,181,000 after purchasing an additional 1,199 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Progressive by 5.5% in the 2nd quarter. Anchor Investment Management LLC now owns 1,021 shares of the insurance provider’s stock valued at $212,000 after buying an additional 53 shares during the last quarter. Finally, Davis Capital Management bought a new stake in Progressive during the third quarter worth $25,000. Institutional investors own 85.34% of the company’s stock.

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.