Media headlines about Progressive (NYSE:PGR) have been trending somewhat positive this week, Accern reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Progressive earned a coverage optimism score of 0.20 on Accern’s scale. Accern also gave media headlines about the insurance provider an impact score of 46.6518169061052 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- Progressive Corp (PGR) Shares Sold by London Co. of Virginia (americanbankingnews.com)
- Progressive Corp (PGR) Shares Sold by Hudson Bay Capital Management LP (americanbankingnews.com)
- Institute for Wealth Management LLC. Buys Shares of 21,109 Progressive Corp (PGR) (americanbankingnews.com)
- Drive a little or a lot, car insurers charge the same (cbsnews.com)
- Progressive Corp (PGR) Files 10-K for the Fiscal Year Ended on December 31, 2017 (finance.yahoo.com)
PGR has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $60.00 price objective on shares of Progressive in a report on Wednesday, December 6th. Goldman Sachs Group began coverage on Progressive in a report on Monday, December 4th. They issued a “buy” rating and a $57.00 target price for the company. UBS Group reaffirmed a “buy” rating and issued a $62.00 target price on shares of Progressive in a report on Friday, December 1st. MKM Partners upped their target price on Progressive to $60.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $48.00 target price on shares of Progressive in a report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Progressive has a consensus rating of “Hold” and a consensus price target of $50.65.
Progressive (NYSE:PGR) last posted its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Progressive had a return on equity of 20.98% and a net margin of 6.88%. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. Progressive’s revenue for the quarter was up 21.6% on a year-over-year basis. equities analysts anticipate that Progressive will post 3.52 earnings per share for the current year.
The company also recently disclosed an annual dividend, which was paid on Friday, February 9th. Investors of record on Friday, February 2nd were paid a $1.125 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a yield of 0.0203325501536237%. Progressive’s payout ratio is 41.18%.
In related news, insider William M. Cody sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $56.10, for a total value of $1,402,500.00. Following the transaction, the insider now owns 137,722 shares in the company, valued at $7,726,204.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by corporate insiders.
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Progressive Company Profile
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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