FY2025 EPS Estimates for Progressive Lifted by William Blair

The Progressive Co. (NYSE:PGR) – Equities researchers at William Blair boosted their FY2025 earnings per share estimates for Progressive in a report released on Wednesday, January 29th. William Blair analyst A. Klauber now anticipates that the insurance provider will earn $15.24 per share for the year, up from their prior 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 (EPS) 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%.

Several other research firms also recently issued reports on PGR. Barclays dropped their price objective on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Raymond James upgraded Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, December 26th. JPMorgan Chase & Co. raised their price objective on Progressive from $251.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. HSBC cut Progressive from a “buy” rating to a “hold” rating and set a $267.00 price objective on the stock. in a research report on Tuesday, December 10th. Finally, Evercore ISI raised their target price on Progressive from $277.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $275.71.

Progressive Price Performance

NYSE:PGR opened at $246.78 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. Progressive has a one year low of $176.37 and a one year high of $270.62. The company has a fifty day moving average price of $247.01 and a 200 day moving average price of $244.51. The stock has a market cap of $144.57 billion, a P/E ratio of 17.14, a PEG ratio of 0.64 and a beta of 0.41.

Progressive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.16%. Progressive’s dividend payout ratio (DPR) is currently 2.78%.

Insiders Place Their Bets

In other news, insider Andrew J. Quigg sold 681 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO John P. Sauerland sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $268.09, for a total value of $2,680,900.00. Following the completion of the transaction, the chief financial officer now owns 292,958 shares in the company, valued at approximately $78,539,110.22. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Institutional Investors Weigh In On Progressive

A number of institutional investors and hedge funds have recently modified their holdings of the business. Davis Capital Management bought a new stake in shares of Progressive during the 3rd quarter valued at $25,000. Webster Bank N. A. acquired a new stake in shares of Progressive during the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in Progressive in the fourth quarter valued at about $28,000. Atlantic Edge Private Wealth Management LLC lifted its stake in Progressive by 54.7% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock valued at $28,000 after buying an additional 41 shares during the period. Finally, Valley National Advisers Inc. boosted its holdings in Progressive by 3,000.0% during the fourth quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock worth $29,000 after buying an additional 120 shares during the last quarter. 85.34% of the stock is owned by institutional investors.

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.