Progressive Corp (PGR) reported quarterly earnings results on Thursday, Jul-14-2016. The company said it had a profit of $0.33 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.32. The company posted revenue of $5934.60 million in the period, compared to analysts expectations of $5822.68 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.
Many Wall Street Analysts have commented on Progressive Corp. Progressive Corp was Downgraded by Citigroup to ” Sell” on Jun 2, 2016.
Progressive Corp opened for trading at $33.28 and hit $33.56 on the upside on Wednesday, eventually ending the session at $33.27, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 29,63,352 shares. Company has a market cap of $19,396 M.
In a different news, on Jun 30, 2016, John A Barbagallo (Commercial Lines Grp President) sold 11,000 shares at $31.50 per share price. According to the SEC, on Jun 28, 2016, Bradley T Sheares (director) sold 19,564 shares at $31.96 per share price. On May 26, 2016, M Jeffrey Charney (Chief Marketing Officer) sold 5,000 shares at $33.10 per share price, according to the Form-4 filing with the securities and exchange commission.
The Progressive Corporation is an insurance holding company. The Companys 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 Companys 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.