Progressive Corp (PGR) Releases Earnings Results, Beats Expectations By $0.01 EPS

Progressive Corp (PGR) announced its most recent quarterly financial results on Thursday, Oct-13-2016. PGR said it had a profit of $0.34 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 $0.33. The company posted revenue of $6049.00 million in the period, compared to analysts expectations of $6087.84 million. PGR’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Many Wall Street Analysts have commented on Progressive Corp. Shares were Reiterated by Deutsche Bank on Sep 19, 2016 to “Sell” and Lowered the Price Target to $ 28 from a previous price target of $30 .Progressive Corp was Upgraded by Keefe Bruyette to ” Mkt Perform” on Sep 16, 2016.

Progressive Corp closed down -0.29 points or -0.92% at $31.12 with 26,90,464 shares getting traded on Tuesday. Post opening the session at $31.32, the shares hit an intraday low of $31.02 and an intraday high of $31.48 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 6, 2016, M Jeffrey Charney (Chief Marketing Officer) sold 7,000 shares at $32.50 per share price. According to the SEC, on Jul 20, 2016, John A Barbagallo (Commercial Lines Grp President) sold 24,000 shares at $33.01 per share price. On Jul 18, 2016, Steven Broz (Chief Information Officer) sold 2,500 shares at $33.17 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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