Progressive (NYSE:PGR – Get Free Report) posted its quarterly earnings data on Tuesday. The insurance provider reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.61, Yahoo Finance reports. 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 period in the previous year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis.
Progressive Price Performance
Shares of Progressive stock traded up $2.61 during midday trading on Thursday, hitting $223.96. 2,410,740 shares of the company were exchanged, compared to its average volume of 2,586,431. The firm has a 50 day simple moving average of $209.60 and a 200-day simple moving average of $198.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.33 and a quick ratio of 0.32. The firm has a market cap of $131.17 billion, a P/E ratio of 22.99, a PEG ratio of 0.81 and a beta of 0.35. Progressive has a 52 week low of $117.64 and a 52 week high of $229.00.
Progressive Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, July 3rd were issued a $0.10 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.18%. Progressive’s payout ratio is presently 4.09%.
Insider Buying and Selling at Progressive
Analysts Set New Price Targets
PGR has been the topic of several recent analyst reports. Wells Fargo & Company lifted 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. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 target price on shares of Progressive in a research report on Monday, April 1st. Keefe, Bruyette & Woods upgraded shares of Progressive from a “market perform” rating to an “outperform” rating and upped their target price for the company from $210.00 to $245.00 in a research note on Wednesday. UBS Group raised their price target on shares of Progressive from $216.00 to $218.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets boosted their price objective on shares of Progressive from $235.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.94.
View Our Latest Stock Report on Progressive
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.
Featured Articles
- Five stocks we like better than Progressive
- EV Stocks and How to Profit from Them
- This Cybersecurity Stock Gains Analysts’ Favor for Strong Growth
- Insider Buying Explained: What Investors Need to Know
- Parabolic Rise of This Stock Shows No Signs of Slowing
- Health Care Stocks Explained: Why You Might Want to Invest
- Risk Tolerance vs. Risk Appetite: Key Differences
Receive News & Ratings for Progressive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progressive and related companies with MarketBeat.com's FREE daily email newsletter.