Analysts See $0.63 EPS for Progressive Corp (PGR)

September 17, 2017 - By Michael Collier

 Analysts See $0.63 EPS for Progressive Corp (PGR)
Investors sentiment increased to 1.06 in 2016 Q4. Its up 0.12, from 0.94 in 2016Q3. It increased, as 28 investors sold Progressive Corp shares while 180 reduced holdings. 62 funds opened positions while 159 raised stakes. 451.39 million shares or 3.92% more from 434.35 million shares in 2016Q3 were reported.
Liberty Mutual Asset Mgmt, a Massachusetts-based fund reported 41,769 shares. Livforsakringsbolaget Skandia Omsesidigt accumulated 0.07% or 36,928 shares. 191,407 are owned by Natixis. Tarbox stated it has 0% of its portfolio in Progressive Corp (NYSE:PGR). Commonwealth Equity stated it has 195,210 shares. Jabre Capital Prtn Sa has 0.81% invested in Progressive Corp (NYSE:PGR) for 200,000 shares. Fil Limited owns 0.03% invested in Progressive Corp (NYSE:PGR) for 292,008 shares. Commerzbank Aktiengesellschaft Fi holds 0.01% in Progressive Corp (NYSE:PGR) or 20,817 shares. Riverhead Mngmt Limited Liability Company stated it has 0.05% in Progressive Corp (NYSE:PGR). Evercore Wealth Management Limited Liability owns 34,156 shares for 0.05% of their portfolio. The Wisconsin-based Johnson Group Inc Inc has invested 0.16% in Progressive Corp (NYSE:PGR). Acadian Asset Ltd Llc holds 433 shares or 0% of its portfolio. Segall Bryant Hamill Llc stated it has 0.12% of its portfolio in Progressive Corp (NYSE:PGR). Cipher L P holds 0.11% or 46,985 shares. California State Teachers Retirement System holds 0.09% of its portfolio in Progressive Corp (NYSE:PGR) for 1.24M shares.

Since May 22, 2017, it had 0 insider purchases, and 3 insider sales for $2.50 million activity. CODY WILLIAM M also sold $2.23 million worth of Progressive Corp (NYSE:PGR) shares. $45,705 worth of Progressive Corp (NYSE:PGR) was sold by Broz Steven on Monday, May 22.

Analysts await Progressive Corp (NYSE:PGR) to report earnings on October, 12. They expect $0.63 EPS, up 75.00 % or $0.27 from last year’s $0.36 per share. PGR’s profit will be $366.06M for 18.26 P/E if the $0.63 EPS becomes a reality. After $0.59 actual EPS reported by Progressive Corp for the previous quarter, Wall Street now forecasts 6.78 % EPS growth. The stock decreased 0.11% or $0.05 on September 15, reaching $46.02. About 3.69M shares traded. Progressive Corp (NYSE:PGR) has risen 26.23% since September 17, 2016 and is uptrending. It has outperformed by 9.53% the S&P500.

Progressive Corp (NYSE:PGR) Ratings Coverage

Among 17 analysts covering Progressive (NYSE:PGR), 6 have Buy rating, 3 Sell and 8 Hold. Therefore 35% are positive. Progressive had 40 analyst reports since August 6, 2015 according to SRatingsIntel. On Thursday, June 2 the stock rating was downgraded by Citigroup to “Sell”. The rating was maintained by Wells Fargo with “Hold” on Wednesday, August 16. The firm has “Neutral” rating by Citigroup given on Thursday, July 13. Goldman Sachs downgraded Progressive Corp (NYSE:PGR) rating on Monday, November 16. Goldman Sachs has “Sell” rating and $28 target. On Tuesday, January 19 the stock rating was downgraded by Bernstein to “Market Perform”. The rating was initiated by Sterne Agee CRT with “Neutral” on Monday, September 21. Bank of America upgraded it to “Buy” rating and $46 target in Monday, March 20 report. The stock of Progressive Corp (NYSE:PGR) has “Sell” rating given on Monday, September 19 by Deutsche Bank. The stock has “Strong Buy” rating by Raymond James on Thursday, July 13. The company was maintained on Friday, May 5 by Wells Fargo.

The Progressive Corporation is an insurance holding company. The company has market cap of $26.74 billion. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. It has a 19.55 P/E ratio. The Firm operates through the Personal Lines, Commercial Lines and Property divisions.

More notable recent Progressive Corp (NYSE:PGR) news were published by: Nasdaq.com which released: “Progressive Becomes Oversold (PGR)” on September 05, 2017, also Nasdaq.com with their article: “Progressive Reaches Analyst Target Price” published on September 12, 2017, Finance.Yahoo.com published: “Progressive (PGR) Up 6.7% Since Earnings Report: Can It Continue?” on August 18, 2017. More interesting news about Progressive Corp (NYSE:PGR) were released by: Seekingalpha.com and their article: “Progressive: July 2017 Update” published on August 25, 2017 as well as Cleveland.com‘s news article titled: “Cleveland’s new views on innovation find expression in art, architecture: PD 175” with publication date: September 17, 2017.

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