An The Progressive Corporation (PGR) Chief Information Officer Sells 2311.0 Shares

The Progressive Corporation (NYSE:PGR) finished Thursday with a subtraction of -$1.13 to close at $91.14, a downside of -1.22 percent. An average of 2,766,980 shares of common stock have been traded in the last five days. There was a gain of $0.75 in the past week. The last 20 days have seen an average of 2,495,145 shares traded, while the 50-day average volume stands at 2,345,986.

PGR stock has decreased by -3.34% in the last month. The company shares reached their 1-month lowest point of $89.68 on 10/01/21. With the stock rallying to its 52-week high on 05/14/21, shares of the company touched a low of $82.29 and a high of $107.58 in 52 weeks. In spite of this, the price is down -15.29% from the 52-week high.

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Insider Transactions

17 days have passed since The Progressive Corporation (PGR) last reported insider trading activity. Broz Steven, who is Chief Information Officer, most recently acquired $2,311 shares at $92.39 per share on Sep 21. In this transaction, the insider spent $213,513. President and CEO, Griffith Susan Patricia, disposed of 45,000 shares at a price of $92.60 on Sep 17. The insider now owns more than $4,166,793 worth of shares. Prior to that, VP and Chief Financial Officer Sauerland John P went on to Sale 12,000 shares at $95.47 each on Aug 19. An amount of $1,145,640 was transacted.

Valuation Metrics

The Progressive Corporation (PGR) has a trailing price-to-earnings (P/E) ratio of 9.81, which compares with the 13.00 for the broader industry and 12.83 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, The Progressive Corporation’s PE ratio has ranged between 23.64 and 8.357. The stock’s beta is 0.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.16, the price-to-book (PB) ratio at 2.93, and the price-to-cash flow ratio at 10.85.

The Progressive Corporation pays a $0.40 dividend per share annually. It offers a dividend yield of 0.44%. The company has a payout ratio of 52.50%. The company’s most recent quarterly dividend payment was $0.10 a share, without any change from last year. Its dividend has been increased for the last 1 consecutive years with the latest decrease dividend $2.4140 reported on Friday February 15 2019. Dividends have grown by -41.25% each year over the last three years.

The Progressive Corporation will next go ex-dividend on 7-Jan. The next dividend payment The Progressive Corporation will make is expected to be $0.10.

Further, the company has a long term debt to equity ratio of 0.27 and a total debt to equity ratio of 0.30 For the recent quarter ending June 29. Its gross profit as reported stood at $7.17 billion compared to revenue of $42.66 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, The Progressive Corporation’s return on assets was 8.30%, compared to 6.2% over the last five years. Meanwhile, the return on equity (ROE) for the past 12 months has been 31.30% and the 5-year average holds at 26.0%. For the broader industry, ROE averaged 11.41 over the past year.

Earnings Surprise

The analyst consensus anticipated The Progressive Corporation’s latest quarter earnings to come in at $1.08 per share, but it turned out to be $0.72, a -33.30% surprise. For the recent quarter, EBITDA amounted to $1.24 billion. At the end of the quarter ending June 29, The Progressive Corporation’s stock balance sheet showed total debt was $5.4 billion. Shareholders own equity worth $585.16 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at The Progressive Corporation (PGR) price momentum. RSI 9-day as of the close on 07 October was 43.77%, suggesting the stock is Neutral, with historical volatility in this time frame at 14.15%.

As of today, PGR’s price is $91.18 +0.83% or $0.75 from its 5-day moving average. PGR is currently trading -2.23% lower than its 20-day SMA and -14.47% lower than its 100-day SMA. However, the stock’s current price level is -3.58% below the SMA50 and -6.94% below the SMA200.

The stochastic %K and %D were 51.72% and 41.35%, respectively, and the average true range (ATR) was 1.56. With the 14-day stochastic at 40.00% and the average true range at 1.50, the RSI (14) stands at 41.61%. The stock has reached 0.61 on the 9-day MACD Oscillator while the 14-day reading was at 0.28.

Analyst Ratings

Wolfe Research launched coverage on The Progressive Corporation (NYSE: PGR) in its analyst report released on August 17, 2021. The firm assigned the stock a an Underperform rating.The consensus rating for The Progressive Corporation (PGR) among analysts is Hold. According to current brokerage recommendations, 5 brokerage firms advise that investors sell PGR, while 6 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.

What is PGR’s price target for the next 12 months?

Analysts predict a range of price targets between $82.00 and $120.00, with a median target of $93.50. Taking a look at these predictions, the average price target given by analysts for The Progressive Corporation (PGR) stock is $96.58.


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