Zacks Research Equities Analysts Raise Earnings Estimates for The Progressive Co. (NYSE:PGR)

The Progressive Co. (NYSE:PGR) – Stock analysts at Zacks Research upped their Q1 2025 earnings per share estimates for Progressive in a report released on Wednesday, April 10th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings of $2.27 per share for the quarter, up from their prior estimate of $2.25. The consensus estimate for Progressive’s current full-year earnings is $10.50 per share.

PGR has been the subject of several other reports. TD Cowen began coverage on Progressive in a research note on Wednesday, January 10th. They set a “market perform” rating and a $174.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Progressive from $190.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Citigroup upped their price target on Progressive from $192.00 to $202.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Bank of America cut their target price on Progressive from $265.00 to $264.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. increased their target price on Progressive from $171.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $202.00.

Progressive Stock Up 0.8 %

Shares of NYSE PGR opened at $203.90 on Monday. The company has a market capitalization of $119.42 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.88 and a beta of 0.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $197.15 and a two-hundred day moving average of $173.13. Progressive has a 1 year low of $111.41 and a 1 year high of $212.24.

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, 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 21.25% and a net margin of 6.28%. Progressive’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS.

Progressive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, April 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.20%. Progressive’s payout ratio is currently 4.09%.

Insider Buying and Selling at Progressive

In other news, CEO Susan Patricia Griffith sold 5,939 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total transaction of $1,005,116.36. Following the completion of the transaction, the chief executive officer now directly owns 465,737 shares in the company, valued at $78,821,329.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Progressive news, CEO Susan Patricia Griffith sold 5,939 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $169.24, for a total value of $1,005,116.36. Following the completion of the sale, the chief executive officer now directly owns 465,737 shares in the company, valued at $78,821,329.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick K. Callahan sold 29,675 shares of the company’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 owns 15,189 shares of the company’s stock, valued at $2,889,859.14. The disclosure for this sale can be found here. Insiders sold a total of 44,629 shares of company stock worth $8,348,176 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Progressive

A number of institutional investors have recently added to or reduced their stakes in the company. Giverny Capital Inc. increased its holdings in shares of Progressive by 2.9% in the third quarter. Giverny Capital Inc. now owns 501,431 shares of the insurance provider’s stock valued at $69,849,000 after buying an additional 14,022 shares in the last quarter. AIA Group Ltd raised its stake in Progressive by 4.9% during the 3rd quarter. AIA Group Ltd now owns 155,427 shares of the insurance provider’s stock valued at $21,651,000 after purchasing an additional 7,268 shares during the period. First Affirmative Financial Network acquired a new stake in Progressive during the 4th quarter valued at $295,000. Bensler LLC increased its stake in shares of Progressive by 13.1% in the fourth quarter. Bensler LLC now owns 50,378 shares of the insurance provider’s stock worth $8,024,000 after acquiring an additional 5,848 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in shares of Progressive by 4.0% in the fourth quarter. DNB Asset Management AS now owns 139,368 shares of the insurance provider’s stock worth $22,199,000 after acquiring an additional 5,403 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.

About Progressive

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.