Press coverage about Progressive (NYSE:PGR) has trended somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progressive earned a coverage optimism score of 0.25 on Accern’s scale. Accern also assigned media headlines about the insurance provider an impact score of 45.7839913597703 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
PGR has been the topic of several analyst reports. Barclays lifted their price objective on Progressive from $39.00 to $41.00 and gave the stock an “underweight” rating in a report on Friday, August 11th. BidaskClub upgraded Progressive from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive in a report on Wednesday, August 16th. Citigroup lifted their price objective on Progressive from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. Finally, ValuEngine upgraded Progressive from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $49.71.
Shares of Progressive (PGR) traded up $0.76 during trading hours on Monday, reaching $54.36. The company had a trading volume of 3,373,566 shares, compared to its average volume of 3,090,536. Progressive has a 52 week low of $33.28 and a 52 week high of $54.54. The stock has a market cap of $31,173.76, a P/E ratio of 23.41, a PEG ratio of 3.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50.
Progressive (NYSE:PGR) last announced its quarterly earnings results on Tuesday, October 17th. The insurance provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. Progressive had a return on equity of 15.40% and a net margin of 5.41%. Progressive’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. equities research analysts anticipate that Progressive will post 2.39 earnings per share for the current fiscal year.
In other Progressive news, insider Jeffrey W. Basch sold 9,000 shares of Progressive stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $48.23, for a total transaction of $434,070.00. Following the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at approximately $3,422,641.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO M Jeffrey Charney sold 6,000 shares of Progressive stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $49.50, for a total value of $297,000.00. Following the sale, the chief marketing officer now directly owns 102,038 shares in the company, valued at $5,050,881. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,000 shares of company stock worth $1,024,470. Insiders own 0.56% of the company’s stock.
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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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