The Progressive Corporation (NYSE:PGR) saw a downside of -0.75% to close Tuesday at $90.52 after subtracting -$0.68 on the day. The 5-day average trading volume is 2,313,440 shares of the company’s common stock. It has gained $93.33 in the past week. An average of 2,460,980 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,355,776.
PGR’s 1-month performance is -3.70% or -$2.60 on its low of $89.68 reached on 10/01/21. The company’s shares have touched a 52-week low of $82.29 and high of $107.58, with the stock’s rally to the 52-week high happening on 05/14/21. YTD, PGR has lost -4.09% or -$8.36. However, the current price is down -15.86%% from the 52-week high price.
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On Sep 21, 22 days have gone by since the last insider trading activity for The Progressive Corporation (PGR). Broz Steven (Chief Information Officer) most recently sold 2,311 shares at $92.39 per share on Sep 21. This transaction cost the insider $213,513. President and CEO, Griffith Susan Patricia, sold 45,000 shares at a price of $92.60 on Sep 17. Then, on Aug 19, Commercial Lines President Bailo Karen sold 6,326 shares at a price of $95.95 per share. This transaction amounted to $607,000.
The company’s PE ratio for the last five years has touched a high of 23.64 and a low of 8.357. PGR stock has a beta of 0.49. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.16 while the price-to-book (PB) in the most recent quarter is 2.91, with the price to cash flow ratio at 10.87.
The Progressive Corporation pays an annual dividend of $0.40 per share. Its dividend yield is 0.44% and the payout ratio is 52.50%. PGR paid $0.10 a share compared with prior rate of $0.10, down 0.0% from last year’s. The company has boosted its dividend for the last 1 consecutive years with the latest dividend decrease of $2.4140 reported on Friday February 15 2019. Measured over the last 3 years, the Dividend has been growing by -41.25% yearly.
It is projected that The Progressive Corporation’s next ex-dividend date will be on 7-Jan. PGR is expected to distribute $0.10 as its next dividend.
As well, the company’s long term debt to equity for the quarter ending June 29 was 0.27, while the total debt to equity was 0.30 while for the period ending June 29; The Progressive Corporation’s operating margin was 15.60%. The firm’s gross profit as reported stood at $7.17 billion against revenue of $42.66 billion.
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected PGR to announce $1.08 per share in earnings in its latest quarter, but it posted $0.72, representing a -33.30% surprise. EBITDA for the quarter stood at more than $1.24 billion. PGR stock balance sheet for the quarter ending June 29 shows that, with total debt at $5.4 billion. Shareholders hold equity totaling $585.16 million
Let’s look briefly at The Progressive Corporation (PGR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 39.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 12.96%.
The stock’s 5-day moving average is $91.21, reflecting a -0.81% or -$0.74 change from its current price. PGR is currently trading -2.88% above its 20-day SMA, -11.29% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -4.76% and -7.92% respectively.
Stochastic %K and %D was 32.97% and 40.15% and the average true range (ATR) pointed at 1.53. The RSI (14) points at 39.05%, while the 14-day stochastic is at 23.01% with the period’s ATR at 1.49. The stock’s 9-day MACD Oscillator is pointing at -0.11 and -0.14 on the 14-day charts.
In the most recent analyst report for The Progressive Corporation (NYSE: PGR), Wolfe Research launched coverage with an Underperform rating. Analysts offering their rating for PGR stock have a consensus rating for the stock as Hold. Currently, 5 brokerage advisors rate PGR as a “sell,”, while 6 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 4 have offered a “buy” rating.
What is PGR’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $82.00 and a high of $120.00, with their median price target at $93.50. Looking at these predictions, the average price target given by analysts is for The Progressive Corporation (PGR) stock is $96.58.