Roth Capital Decreases Earnings Estimates for Progressive

Key Points

• Roth Capital revised down its earnings estimates for Progressive for FY2025, now anticipating $17.90 EPS compared to the previous estimate of $18.50.
• Various financial institutions have downgraded their price targets for Progressive, with Wells Fargo lowering theirs from $266.00 to $246.00.
• Progressive reported a quarterly earnings miss with $4.45 EPS, falling short of the $5.04 consensus estimate, alongside revenues of $21.38 billion against expectations of $21.64 billion.

The Progressive Corporation (NYSE:PGR - Free Report) - Equities researchers at Roth Capital reduced their FY2025 EPS estimates for Progressive in a research note issued on Thursday, October 16th. Roth Capital analyst H. Fong now anticipates that the insurance provider will earn $17.90 per share for the year, down from their previous forecast of $18.50. The consensus estimate for Progressive's current full-year earnings is $14.68 per share. Roth Capital also issued estimates for Progressive's Q2 2026 earnings at $3.73 EPS, Q4 2026 earnings at $4.02 EPS and Q1 2027 earnings at $3.98 EPS.

PGR has been the subject of several other research reports. Wells Fargo & Company lowered their target price on shares of Progressive from $266.00 to $246.00 and set an "equal weight" rating for the company in a report on Thursday. Citigroup decreased their price objective on shares of Progressive from $312.00 to $301.38 and set a "buy" rating for the company in a report on Thursday. BMO Capital Markets decreased their price objective on shares of Progressive from $252.00 to $247.00 and set a "market perform" rating for the company in a report on Thursday. Bank of America raised their price objective on shares of Progressive from $350.00 to $351.00 and gave the stock a "buy" rating in a report on Thursday. Finally, UBS Group decreased their price objective on shares of Progressive from $268.00 to $261.00 and set a "neutral" rating for the company in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $274.46.

Progressive Stock Performance

Shares of PGR stock opened at $225.57 on Monday. The firm has a 50-day moving average of $243.73 and a 200-day moving average of $257.69. The company has a market cap of $132.23 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.27 and a beta of 0.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.31. Progressive has a one year low of $217.20 and a one year high of $292.99.

Progressive (NYSE:PGR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The insurance provider reported $4.45 EPS for the quarter, missing the consensus estimate of $5.04 by ($0.59). The firm had revenue of $21.38 billion during the quarter, compared to analysts' expectations of $21.64 billion. Progressive had a net margin of 12.57% and a return on equity of 33.88%. During the same quarter in the prior year, the company earned $3.58 EPS.

Progressive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Thursday, October 2nd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Thursday, October 2nd. Progressive's dividend payout ratio (DPR) is currently 2.19%.

Insider Activity

In other Progressive news, CEO Susan Patricia Griffith sold 30,660 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $242.12, for a total transaction of $7,423,399.20. Following the completion of the transaction, the chief executive officer owned 506,945 shares in the company, valued at $122,741,523.40. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John P. Sauerland sold 16,664 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $249.24, for a total transaction of $4,153,335.36. Following the transaction, the chief financial officer owned 228,024 shares of the company's stock, valued at $56,832,701.76. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,778 shares of company stock valued at $31,683,756. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Progressive

Large investors have recently modified their holdings of the company. TruNorth Capital Management LLC boosted its position in shares of Progressive by 210.0% in the first quarter. TruNorth Capital Management LLC now owns 93 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 63 shares during the period. HWG Holdings LP bought a new position in shares of Progressive in the first quarter valued at approximately $28,000. Garde Capital Inc. bought a new position in shares of Progressive in the first quarter valued at approximately $33,000. Atlantic Union Bankshares Corp bought a new position in shares of Progressive in the second quarter valued at approximately $33,000. Finally, Westside Investment Management Inc. boosted its position in shares of Progressive by 900.0% in the second quarter. Westside Investment Management Inc. now owns 130 shares of the insurance provider's stock valued at $34,000 after acquiring an additional 117 shares during the period. 85.34% of the stock is currently 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.

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