Progressive Co. (NYSE:PGR) – Equities research analysts at Langen Mcalenn lifted their FY2018 earnings per share estimates for shares of Progressive in a note issued to investors on Wednesday, April 18th. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will post earnings of $3.80 per share for the year, up from their previous estimate of $3.60.
Progressive (NYSE:PGR) last released its quarterly earnings results on Tuesday, April 17th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Progressive had a return on equity of 18.66% and a net margin of 6.75%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS.
NYSE PGR opened at $61.05 on Friday. The company has a market cap of $35,594.53, a price-to-earnings ratio of 23.21, a PEG ratio of 2.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.26 and a quick ratio of 0.43. Progressive has a 1-year low of $38.75 and a 1-year high of $62.78.
A number of institutional investors and hedge funds have recently bought and sold shares of PGR. Exane Derivatives purchased a new position in Progressive during the 4th quarter valued at $104,000. Valeo Financial Advisors LLC boosted its holdings in Progressive by 13,675.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 84,029 shares of the insurance provider’s stock valued at $118,000 after acquiring an additional 83,419 shares during the period. We Are One Seven LLC purchased a new position in Progressive during the 4th quarter valued at $119,000. First Personal Financial Services boosted its holdings in Progressive by 101.8% during the 4th quarter. First Personal Financial Services now owns 2,202 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 1,111 shares during the period. Finally, MUFG Americas Holdings Corp boosted its holdings in Progressive by 824.9% during the 4th quarter. MUFG Americas Holdings Corp now owns 3,561 shares of the insurance provider’s stock valued at $201,000 after acquiring an additional 3,176 shares during the period. Institutional investors own 81.04% of the company’s stock.
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Progressive Company Profile
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles.
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