Media stories about Progressive (NYSE:PGR) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progressive earned a news impact score of 0.22 on Accern’s scale. Accern also gave news articles about the insurance provider an impact score of 45.565009001225 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
Progressive (NYSE PGR) traded down $0.11 during trading on Tuesday, reaching $54.25. 3,880,741 shares of the company’s stock were exchanged, compared to its average volume of 3,093,913. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. Progressive has a 52 week low of $33.33 and a 52 week high of $54.75. The firm 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.
Progressive (NYSE:PGR) last released its 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. Progressive had a net margin of 5.41% and a return on equity of 15.40%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $7.04 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. research analysts expect that Progressive will post 2.39 earnings per share for the current fiscal year.
Several brokerages recently issued reports on PGR. UBS reiterated a “buy” rating and set a $62.00 price target on shares of Progressive in a research report on Friday. Citigroup upped their price target on shares of Progressive from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Credit Suisse Group upgraded shares of Progressive from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $42.00 to $48.00 in a research report on Wednesday, September 20th. Wells Fargo & Company reiterated a “hold” rating on shares of Progressive in a research report on Wednesday, August 16th. Finally, ValuEngine upgraded shares of Progressive from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Progressive has an average rating of “Hold” and an average price target of $49.71.
In other news, CMO M Jeffrey Charney sold 6,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $49.50, for a total value of $297,000.00. Following the completion of the sale, the chief marketing officer now directly owns 102,038 shares of the company’s stock, valued at approximately $5,050,881. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey W. Basch sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $48.23, for a total value of $434,070.00. Following the completion of the sale, the insider now directly owns 70,965 shares of the company’s stock, valued at $3,422,641.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,000 shares of company stock valued at $1,024,470. 0.56% of the stock is currently owned by company 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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