What Are Wall Street’s Thoughts On The Progressive Corporation Shares (PGR)?

The stock of The Progressive Corporation (NYSE:PGR) increased by increased by $0.99 on Friday to finish at $95.62, up 1.05 percent. The last five days have seen an average of 2,669,580 shares of common stock traded. 13 times new highs were reached in the current year, with a fall of -$3.26. The average number of shares traded over the last 20 days was 2,653,525, while the average volume over the last 50 days totaled 2,458,632.

PGR stock appreciated 4.42% since last month. On 10/14/21, the company’s shares reached a one-month low of $89.35. The stock touched a high of $107.58 on 05/14/21, after rallying from a low of $82.29 in 52 weeks. The price of PGR stock has risen by 1.32% or -$3.26 this year, reaching a new high 13 times. Still, the stock price is down -11.12% from the 52-week high.

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Insider Transactions

There have been 11 days since The Progressive Corporation (PGR) last reported insider trading activity on Oct 14. On Oct 14, Chief Information Officer Broz Steven sold 2,311 shares at $90.25 each. This transaction resulted in the insider making $208,568. On Sep 21, Broz Steven sold 2,311 shares at a price of US$92.39. After the transaction, the insider now owns 38,252 shares. President and CEO Griffith Susan Patricia had earlier sold 45,000 shares on Sep 17 for $92.60 a share. The transaction was completed for $4,166,793.

Valuation Metrics

The Progressive Corporation (PGR) has a trailing price-to-earnings (P/E) ratio of 13.87. This level actually compares unfavorably with the industry at large, as the PE for the Insurance – Property & Casualty industry stands at about 9.42. Further, its PE also compares unfavorably with the Financial sector’s trailing 12 months PE ratio, which comes in at 13.15 right now. The PE ratio of The Progressive Corporation has varied between 23.64 and 8.357 in the last five years. Beta for the stock is 0.49. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.19, the price-to-book (PB) ratio of 3.07, and the price-to-cash flow ratio of 11.51.

The Progressive Corporation’s dividend is $0.40 per share per year. With a dividend yield of 0.42%, PGR has a payout ratio of 44.40%. On Oct. 15, the company paid $0.10 per share in dividends, remained unchanged from $0.10 last year. A $2.4140 dividend decrease was reported on Friday February 15 2019, making it the 1 consecutive year the dividend has increased. Over the last three years, dividends have increased by -41.25%.

The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.27, and the total debt to equity ratio is 0.30. The Progressive Corporation’s operating margin stood at 18.00% for the same period. Based on annual data, it had gross profit of $7.17 billion and revenue of $42.66 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PGR’s return on assets (ROA) during the last 12 months has been 9.90%. There was a 27.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 37.10%. ROE has averaged 11.41 in the past year for the broader industry.

Earnings Surprise

According to The Progressive Corporation’s quarterly financial report for the quarter that ended June 29. Net income for the quarter came in at $11.91 billion, while revenues rose by 21.69% to $11.45 billion. It was predicted that The Progressive Corporation’s quarterly earnings would be $0.72, but it ended up being $1.08, beating the consensus by -33.30%. At the end of The Progressive Corporation’s most recent quarter ended June 29, its total debt was $5.4 billion.

Technical Picture

Here’s a quick look at The Progressive Corporation’s (PGR) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 72.33%, suggesting the stock is Overbought, with a 18.75% historical volatility rate.

The stochastic %K and %D were 94.70% and 85.42% respectively, while the average true range (ATR) was 1.71. Based on the 14-day stochastic reading of 87.82%, the RSI (14) reading is 64.96%. On the 9-day MACD Oscillator, the stock is at 2.66, and the 14-day reading is at 2.98.

Analyst Ratings

In its analyst report released on August 17, 2021, Wolfe Research began covering The Progressive Corporation (NYSE: PGR). The stock was rated as an Underperform by the brokerage firm. Analysts have assigned The Progressive Corporation (PGR) an Hold rating. PGR is a stock that is recommended for selling by 4 brokerage firms, while 7 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 4 others recommend it as a buy.

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

The current consensus forecast for the stock is between $80.00 and $120.00, with a median target price of $93.50. In analyzing these forecasts, the average price target given by analysts for The Progressive Corporation (PGR) is $96.17.


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