Roth Capital Has Pessimistic View of Progressive Q1 Earnings

The Progressive Co. (NYSE:PGR) – Stock analysts at Roth Capital decreased their Q1 2025 earnings per share estimates for Progressive in a research note issued on Thursday, January 30th. Roth Capital analyst H. Fong now expects that the insurance provider will post earnings of $3.00 per share for the quarter, down from their prior estimate of $3.16. The consensus estimate for Progressive’s current full-year earnings is $14.40 per share.

Progressive (NYSE:PGR) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.44 by $0.64. Progressive had a net margin of 11.25% and a return on equity of 33.79%.

Several other brokerages have also recently weighed in on PGR. Jefferies Financial Group lifted their price target on Progressive from $257.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Raymond James raised shares of Progressive from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a report on Thursday, December 26th. Wells Fargo & Company increased their price target on shares of Progressive from $302.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Bank of America lifted their price objective on shares of Progressive from $331.00 to $335.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, Barclays lowered their target price on shares of Progressive from $277.00 to $261.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.71.

Progressive Price Performance

Shares of PGR opened at $248.13 on Monday. The company has a market capitalization of $145.35 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.63 and a beta of 0.42. The business’s 50-day moving average is $246.68 and its two-hundred day moving average is $245.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 0.31. Progressive has a fifty-two week low of $179.90 and a fifty-two week high of $270.62.

Progressive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Friday, January 10th. Progressive’s dividend payout ratio is presently 2.78%.

Insider Buying and Selling

In related news, CEO Susan Patricia Griffith sold 11,021 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $243.29, for a total transaction of $2,681,299.09. Following the sale, the chief executive officer now directly owns 473,736 shares in the company, valued at approximately $115,255,231.44. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Quigg sold 681 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $242.10, for a total transaction of $164,870.10. Following the completion of the sale, the insider now owns 33,612 shares in the company, valued at $8,137,465.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,361 shares of company stock valued at $13,983,575. Company insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Progressive

Hedge funds have recently added to or reduced their stakes in the stock. Webster Bank N. A. purchased a new stake in shares of Progressive in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new position in Progressive in the 4th quarter valued at $28,000. Atlantic Edge Private Wealth Management LLC raised its holdings in Progressive by 54.7% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 116 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 41 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Progressive by 3,000.0% in the 4th quarter. Valley National Advisers Inc. now owns 124 shares of the insurance provider’s stock valued at $29,000 after buying an additional 120 shares during the period. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Progressive by 114.1% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 137 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 73 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.