News coverage about Progressive Corporation (The) (NYSE:PGR) has trended positive on Thursday, Accern reports. The research group identifies negative and positive press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progressive Corporation (The) earned a news impact score of 0.25 on Accern’s scale. Accern also gave media headlines about the insurance provider an impact score of 46.1725609598889 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Zooming in on the Numbers for Progressive Corporation (The) (NYSE:PGR) – Jonesboro Recorder (jonesbororecorder.com)
- Progressive Corp (PGR)’s MFI Reading Under The Lens – FLBC News (flbcnews.com)
- Sumitomo Mitsui Trust Holdings, Inc. Increases Its Ownership in Progressive Corporation (The) (PGR) – Modern Readers (modernreaders.com)
- Analyzing Mercury General Corporation (MCY) and Progressive Corporation (The) (NYSE:PGR) (americanbankingnews.com)
- Poised For a Breakout? Share Update on Progressive Corp (PGR) – Evergreen Caller (evergreencaller.com)
A number of analysts have recently weighed in on PGR shares. UBS AG raised shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Progressive Corporation (The) from a “buy” rating to a “hold” rating in a report on Friday, April 21st. FBR & Co upped their price target on shares of Progressive Corporation (The) from $35.00 to $36.00 and gave the stock a “mkt perform” rating in a report on Wednesday, May 10th. Raymond James Financial, Inc. raised shares of Progressive Corporation (The) from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $45.00 to $52.00 in a report on Thursday, July 13th. Finally, Citigroup Inc. upped their price target on shares of Progressive Corporation (The) from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.79.
Shares of Progressive Corporation (PGR) opened at 48.04 on Thursday. The firm has a market capitalization of $27.91 billion, a PE ratio of 20.44 and a beta of 0.86. The stock’s 50 day moving average is $45.50 and its 200 day moving average is $41.16. Progressive Corporation has a 52-week low of $30.54 and a 52-week high of $48.04.
Progressive Corporation (The) (NYSE:PGR) last announced its quarterly earnings data on Tuesday, July 18th. The insurance provider reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.78 billion. Progressive Corporation (The) had a return on equity of 15.62% and a net margin of 5.50%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts forecast that Progressive Corporation will post $2.43 EPS for the current year.
In related news, insider William M. Cody sold 50,000 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $44.65, for a total transaction of $2,232,500.00. Following the completion of the sale, the insider now directly owns 151,051 shares in the company, valued at approximately $6,744,427.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Kelly sold 20,000 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $44.52, for a total transaction of $890,400.00. Following the sale, the director now owns 59,963 shares of the company’s stock, valued at $2,669,552.76. The disclosure for this sale can be found here. Insiders have sold a total of 71,100 shares of company stock valued at $3,168,605 over the last quarter. 0.56% of the stock is currently owned by company insiders.
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About Progressive Corporation (The)
The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and affiliates provide personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services. The Company operates through the Personal Lines, Commercial Lines and Property segments.
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