Cantor Fitzgerald Forecasts Progressive FY2025 Earnings

Key Points

• Cantor Fitzgerald forecasts Progressive's FY2025 earnings per share at $17.43, while the current consensus estimate is $14.68 per share.
• Progressive's recent quarterly earnings surpassed estimates, reporting $4.88 EPS, and the company has announced a quarterly dividend of $0.10, payable on October 10th.
• In the latest investment activity, significant institutional investors have increased their stakes in Progressive, with Vanguard Group raising its holdings by 0.9% in the second quarter.

The Progressive Corporation (NYSE:PGR - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for Progressive in a research report issued to clients and investors on Wednesday, August 13th. Cantor Fitzgerald analyst R. Tunis expects that the insurance provider will post earnings per share of $17.43 for the year. Cantor Fitzgerald currently has a "Hold" rating on the stock. The consensus estimate for Progressive's current full-year earnings is $14.68 per share. Cantor Fitzgerald also issued estimates for Progressive's FY2026 earnings at $16.28 EPS.

PGR has been the topic of several other research reports. Wells Fargo & Company boosted their price target on shares of Progressive from $328.00 to $333.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Bank of America lowered their target price on shares of Progressive from $337.00 to $336.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Evercore ISI lowered shares of Progressive from an "outperform" rating to an "in-line" rating and set a $275.00 price objective for the company. in a research note on Thursday, July 17th. Jefferies Financial Group decreased their price target on shares of Progressive from $309.00 to $287.00 and set a "buy" rating for the company in a research report on Monday. Finally, Wall Street Zen lowered shares of Progressive from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $283.06.

Progressive Price Performance

PGR traded down $3.61 during trading hours on Friday, hitting $247.35. The company's stock had a trading volume of 338,720 shares, compared to its average volume of 3,241,677. The business's 50-day moving average price is $253.79 and its 200-day moving average price is $266.24. Progressive has a 12 month low of $228.54 and a 12 month high of $292.99. The stock has a market cap of $145.00 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.47 and a beta of 0.33. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.21.

Progressive (NYSE:PGR - Get Free Report) last released its earnings results on Wednesday, July 16th. The insurance provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.43 by $0.45. Progressive had a net margin of 12.66% and a return on equity of 35.37%. The firm had revenue of $20.08 billion for the quarter, compared to the consensus estimate of $20.39 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The company's quarterly revenue was up 12.1% compared to the same quarter last year.

Progressive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. Progressive's payout ratio is currently 2.25%.

Insider Buying and Selling

In related news, insider Patrick K. Callahan sold 6,232 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $242.16, for a total value of $1,509,141.12. Following the sale, the insider directly owned 27,844 shares in the company, valued at approximately $6,742,703.04. The trade was a 18.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Jo Murphy sold 4,000 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $260.38, for a total transaction of $1,041,520.00. Following the completion of the sale, the insider owned 41,289 shares in the company, valued at approximately $10,750,829.82. This trade represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,250 shares of company stock worth $26,332,348 in the last ninety days. Company insiders own 0.34% of the company's stock.

Institutional Investors Weigh In On Progressive

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Progressive by 0.9% during the second quarter. Vanguard Group Inc. now owns 54,516,288 shares of the insurance provider's stock worth $14,548,217,000 after purchasing an additional 493,332 shares during the last quarter. Geode Capital Management LLC lifted its stake in Progressive by 2.0% in the second quarter. Geode Capital Management LLC now owns 15,513,188 shares of the insurance provider's stock valued at $4,128,055,000 after buying an additional 301,371 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Progressive by 32.8% in the second quarter. Alliancebernstein L.P. now owns 10,972,574 shares of the insurance provider's stock valued at $2,928,141,000 after buying an additional 2,709,417 shares during the last quarter. GQG Partners LLC lifted its stake in Progressive by 61.4% in the first quarter. GQG Partners LLC now owns 8,346,133 shares of the insurance provider's stock valued at $2,362,039,000 after buying an additional 3,174,632 shares during the last quarter. Finally, Norges Bank purchased a new stake in Progressive in the second quarter valued at approximately $2,156,939,000. Hedge funds and other institutional investors own 85.34% of the company's stock.

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.

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