News coverage about Progressive (NYSE:PGR) has been trending positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progressive earned a news sentiment score of 0.25 on Accern’s scale. Accern also assigned headlines about the insurance provider an impact score of 45.6804317173231 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
- Brokerages Anticipate Progressive Corp (PGR) to Announce $1.04 Earnings Per Share (americanbankingnews.com)
- PRIMECAP Odyssey Funds (streetinsider.com)
- Customer Service Ranks First, Says Progressive CEO Tricia Griffith (chiefexecutive.net)
- Stock Jumping Abnormally High: Progressive Corp. (NYSE:PGR) (newburghpress.com)
- IWR, ILMN, ADI, PGR: ETF Inflow Alert (nasdaq.com)
A number of analysts have weighed in on the company. Wells Fargo & Co set a $61.00 price target on Progressive and gave the company a “hold” rating in a research note on Monday, April 2nd. Buckingham Research raised their price target on Progressive from $48.00 to $52.00 and gave the company an “underperform” rating in a research note on Thursday, May 17th. Zacks Investment Research upgraded Progressive from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Friday, April 20th. ValuEngine upgraded Progressive from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, MKM Partners raised their price target on Progressive to $70.00 and gave the company a “buy” rating in a research note on Tuesday, March 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Progressive presently has an average rating of “Hold” and a consensus price target of $55.47.
PGR opened at $60.18 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.44 and a current ratio of 0.44. Progressive has a one year low of $43.59 and a one year high of $64.77. The stock has a market cap of $35.40 billion, a PE ratio of 22.88, a PEG ratio of 1.97 and a beta of 0.67.
Progressive (NYSE:PGR) last posted its earnings results on Wednesday, May 2nd. The insurance provider reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.10. Progressive had a return on equity of 18.90% and a net margin of 6.75%. equities research analysts anticipate that Progressive will post 4.21 EPS for the current year.
In related news, CEO Susan Patricia Griffith sold 12,600 shares of the firm’s stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $60.54, for a total transaction of $762,804.00. Following the transaction, the chief executive officer now owns 222,723 shares of the company’s stock, valued at $13,483,650.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John P. Sauerland sold 12,000 shares of the firm’s stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $62.40, for a total value of $748,800.00. Following the transaction, the chief financial officer now directly owns 364,423 shares in the company, valued at approximately $22,739,995.20. The disclosure for this sale can be found here. Insiders have sold 49,600 shares of company stock worth $3,025,024 in the last quarter. Insiders own 0.70% of the company’s stock.
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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