Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Progressive's shares outstanding for the quarter that ended in Dec. 2022 was 585 Mil.
Progressive's quarterly shares outstanding
declined
from Sep. 2022 (585 Mil) to Dec. 2022 (585 Mil).
It means Progressive bought back shares from Sep. 2022 to Dec. 2022 .
Progressive's annual shares outstanding
increased
from Dec. 2021 (584 Mil) to Dec. 2022 (585 Mil).
It means Progressive issued new shares from Dec. 2021 to Dec. 2022 .
Progressive Shares Outstanding (EOP) Historical Data
The historical data trend for Progressive's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
* Premium members only.
Progressive Annual Data
Trend
Dec13
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Shares Outstanding (EOP)
583.20
584.63
585.20
584.40
584.90
Progressive Quarterly Data
Mar18
Jun18
Sep18
Dec18
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Shares Outstanding (EOP)
584.40
584.88
584.92
585.07
584.90
Competitive Comparison
For the Insurance - Property & Casualty subindustry, Progressive's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Progressive Shares Outstanding (EOP) Distribution
For the Insurance industry and Financial Services sector, Progressive's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where Progressive's Shares Outstanding (EOP) falls in comparison to its industry or sector. The grey bar indicates the Shares Outstanding (EOP)'s extreme value range as defined by GuruFocus.
Progressive Shares Outstanding (EOP) Calculation
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
Progressive Shares Outstanding (EOP) Related Terms
Thank you for viewing the detailed overview of Progressive's Shares Outstanding (EOP) provided by GuruFocus.com. Please click on the following links to see related term pages.
Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth-largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
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