Q3 2017 EPS Estimates for Progressive Corporation (The) (PGR) Boosted by Langen Mcalenn

Progressive Corporation (The) (NYSE:PGR) – Analysts at Langen Mcalenn lifted their Q3 2017 EPS estimates for shares of Progressive Corporation (The) in a report issued on Monday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings of $0.34 per share for the quarter, up from their previous forecast of $0.32.

Several other analysts also recently commented on PGR. ValuEngine downgraded Progressive Corporation (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub upgraded Progressive Corporation (The) from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. Citigroup Inc. raised their target price on Progressive Corporation (The) from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Wells Fargo & Company restated a “hold” rating on shares of Progressive Corporation (The) in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Progressive Corporation (The) from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Progressive Corporation (The) has a consensus rating of “Hold” and a consensus price target of $46.00.

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Shares of Progressive Corporation (NYSE PGR) opened at 49.25 on Wednesday. Progressive Corporation has a one year low of $30.99 and a one year high of $49.75. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 20.96 and a beta of 0.87. The stock has a 50 day moving average price of $47.42 and a 200-day moving average price of $44.28.

Progressive Corporation (The) (NYSE:PGR) last issued its quarterly earnings results on Tuesday, July 18th. The insurance provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.78 billion. Progressive Corporation (The) had a net margin of 5.50% and a return on equity of 15.62%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share.

In other Progressive Corporation (The) news, insider Steven Broz sold 1,250 shares of Progressive Corporation (The) stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $48.73, for a total transaction of $60,912.50. Following the transaction, the insider now owns 12,181 shares of the company’s stock, valued at approximately $593,580.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Susan Patricia Griffith sold 35,000 shares of Progressive Corporation (The) stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $48.66, for a total transaction of $1,703,100.00. Following the transaction, the insider now directly owns 221,715 shares in the company, valued at approximately $10,788,651.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,250 shares of company stock worth $4,196,513. Insiders own 0.56% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. National Planning Corp lifted its position in shares of Progressive Corporation (The) by 28.0% during the 2nd quarter. National Planning Corp now owns 9,125 shares of the insurance provider’s stock worth $404,000 after buying an additional 1,995 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Progressive Corporation (The) by 1.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,038,766 shares of the insurance provider’s stock worth $310,340,000 after buying an additional 79,773 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Progressive Corporation (The) by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 37,551,768 shares of the insurance provider’s stock worth $1,471,278,000 after buying an additional 1,357,926 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Progressive Corporation (The) by 2.0% during the 2nd quarter. Great Lakes Advisors LLC now owns 15,225 shares of the insurance provider’s stock worth $671,000 after buying an additional 295 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Progressive Corporation (The) by 3.2% during the 2nd quarter. Swiss National Bank now owns 2,122,034 shares of the insurance provider’s stock worth $93,560,000 after buying an additional 65,900 shares in the last quarter. 79.41% of the stock is currently owned by hedge funds and other institutional investors.

About Progressive Corporation (The)

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.

Earnings History and Estimates for Progressive Corporation (The) (NYSE:PGR)




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