Progressive Corp (PGR) Releases Earnings Results, Misses Expectations By $-0.07 EPS

Progressive Corp (PGR) reported quarterly earnings results on Thursday, Apr-14-2016. The company reported $0.44 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $0.51. The company posted revenue of $5818.00 million in the period, compared to analysts expectations of $5788.31 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Progressive Corp. Company shares were Reiterated by Deutsche Bank on Mar 17, 2016 to “Sell”, Firm has raised the Price Target to $ 29 from a previous price target of $28 .Progressive Corp was Downgraded by Bernstein to ” Mkt Perform” on Jan 19, 2016.

Progressive Corp closed down -0.15 points or -0.44% at $34.28 with 19,36,676 shares getting traded on Monday. Post opening the session at $34.5, the shares hit an intraday low of $34.24 and an intraday high of $34.67 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Feb 3, 2016, John F Auer (CEO) purchased 50,000 shares at $30.28 per share price. According to the SEC, on Jan 5, 2016, Michael D Sieger (Claims President) purchased 18 shares at $26.46 per share price. On Aug 11, 2015, M Jeffrey Charney (Chief Marketing Officer) sold 4,500 shares at $30.50 per share price, according to the Form-4 filing with the securities and exchange commission.

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance commercial auto and truck insurance principally for small businesses and other specialty property-casualty insurance and related services. The Company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles uninsured and underinsured bodily injury and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.

Progressive Corp

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