Progressive (PGR) Projected to Post Earnings on Wednesday

Progressive (NYSE:PGR) is projected to issue its quarterly earnings data before the market opens on Wednesday, January 22nd. Analysts expect the company to announce earnings of $3.44 per share for the quarter.

Progressive Price Performance

Shares of PGR stock opened at $243.79 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50 day moving average price of $250.18 and a 200 day moving average price of $242.71. Progressive has a 52-week low of $166.92 and a 52-week high of $270.62. The firm has a market capitalization of $142.82 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.61 and a beta of 0.41.

Progressive Dividend Announcement

The company also recently declared 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 dividend yield of 0.16%. Progressive’s payout ratio is 2.91%.

Insider Activity

In other news, CAO Mariann Wojtkun Marshall sold 191 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 of the company’s stock, valued at approximately $964,042.20. The trade was a 4.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John P. Sauerland sold 10,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $268.09, for a total transaction of $2,680,900.00. Following the transaction, the chief financial officer now directly owns 292,958 shares of the company’s stock, valued at $78,539,110.22. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,938 shares of company stock valued at $7,473,490. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on PGR shares. JPMorgan Chase & Co. boosted their price target on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. HSBC lowered Progressive from a “buy” rating to a “hold” rating and set a $267.00 target price on the stock. in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. TD Cowen raised their target price on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a report on Thursday, December 26th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Progressive presently has an average rating of “Moderate Buy” and a consensus target price of $275.24.

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.