Revenue Update on Progressive Corp(NYSE:PGR)

Progressive Corp(NYSE:PGR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 14, 2016. Company reported revenue of $5.56B. Analysts estimated a revenue of $5.73B. Earnings per share were $0.33. Analysts had estimated an EPS of $0.34.

In a different note, On Jun 2, 2016, Citigroup said it Downgrades its rating on Progressive Corp. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Sell’ by the firm.

Progressive Corp (PGR) shares turned negative on Mondays trading session with the shares closing down -0.26 points or -0.79% at a volume of 23,37,774. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33.09. The peak price level was also seen at $33.09 while the days lowest was $32.8. Finally the shares closed at $32.84. The 52-week high of the shares is $35.5399 while the 52-week low is $27.23. According to the latest information available, the market cap of the company is $19,146 M.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, John A Barbagallo (Commercial Lines Grp President) sold 11,000 shares at $31.50 per share price.Also, On Jun 28, 2016, Bradley T Sheares (director) sold 19,564 shares at $31.96 per share price.On May 26, 2016, M Jeffrey Charney (Chief Marketing Officer) sold 5,000 shares at $33.10 per share price, according to the Form-4 filing with the securities and exchange commission.

The Progressive Corporation is an insurance holding company. The Company’s insurance subsidiaries and mutual insurance company affiliate provide personal auto insurance commercial auto and truck insurance principally for small businesses and other specialty property-casualty insurance and related services. The Company’s property-casualty insurance products protect its customers against losses due to collision and physical damage to their motor vehicles uninsured and underinsured bodily injury and liability to others for personal injury or property damage arising out of the use of those vehicles. Its non-insurance subsidiaries and limited partnership investment affiliate support its insurance and investment operations.

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