Progressive Post Earnings Results

Progressive Corp (NYSE:PGR) announced its earnings results of $0.34 earnings per share, missing consensus estimates by $0.02 for the quarter. The company made $6.05 billion during the quarter, beating analyst estimates of $6.04 billion with a net margin of 4.80 percent and a return on equity of 13.57 percent.

Progressive is one of the world’s largest providers of car insurance in the United States. The company also insure motorcycles, boats, RVs, and commercial vehicles, and provides home insurance through select companies.

In other Progressive Corp. news, as reported by Cerbat Gem, insider M Jeffrey Charney sold 7,000 shares of Progressive Corp. stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $32.50, for a total value of $227,500.00. Following the completion of the transaction, the insider now directly owns 71,961 shares in the company, valued at $2,338,732.50. Also, insider Steven Broz sold 2,500 shares of Progressive Corp. stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $33.17, for a total value of $82,925.00. Following the completion of the transaction, the insider now owns 9,420 shares of the company’s stock, valued at $312,461.40. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.


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