Does Wall Street Rate The Progressive Corporation (PGR) Shares A Sell?

As of Wednesday close, The Progressive Corporation’s (NYSE:PGR) stock was down -$0.33, moving down -0.29 percent to $111.85. The average number of shares traded per day over the past five days has been 2,933,320 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.56 fall in that time frame. In the last twenty days, the average volume was 3,036,820, while in the previous 50 days, it was 2,963,814.

Since last month, PGR stock rose 0.77%. Shares of the company fell to $108.86 on 06/17/22, the lowest level in the past month. A 52-week high of $121.36 was reached on 06/07/22 after having rallying from a 52-week low of $88.05. Since the beginning of this year, PGR’s stock price has risen by 8.96% or $9.20, and marked a new high 22 times. However, the stock has declined by -7.84% since its 52-week high.

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The Progressive Corporation (PGR) last reported insider trading activity 30 days ago on May 24. Mascaro Daniel P, the Vice Pres, Secretary and CLO of the company, disposed of 558 shares for $112.94 on May 24. It resulted in a $63,021 divestment by the insider. Broz Steven sold 1,067 shares at an average price of $112.59 on May 04. The insider now owns 31,321 shares following the transaction. On Apr 21, Vice Pres, Secretary and CLO Mascaro Daniel P sold 558 shares at $113.59 apiece. The transaction was valued at $63,383.

Valuation Metrics

Right now, The Progressive Corporation (PGR) has a P/E ratio of about 30.40. The stock’s beta is 0.52. Besides these, the trailing price-to-sales (P/S) ratio of 1.37, the price-to-book (PB) ratio of 3.95, and the price-to-cash flow ratio of 10.49 may also be considered.

The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10. On Friday December 10 2021, a $1.40 dividend decrease was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.39, and the total debt-to-equity ratio was 0.39. In the year ended March 30, operating margins totaled 6.10%. Based on annual data, PGR earned $4.21 billion in gross profit and brought in $47.7 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.80%. Return on equity (ROE) for the past 12 months was 12.20%.

In The Progressive Corporation’s quarter-end financial report for March 30, it reported total debt of $6.39 billion. PGR’s revenue rose 3.35% to $12.49 billion during the quarter, while net income inched up to $11.84 billion. While analysts expected The Progressive Corporation to report $1.15 quarterly earnings, the actual figure was $1.1 per share, beating the consensus estimate by -4.30%. The value of shareholders’ equity is $584.88 million.

Technical Picture

This quick technical analysis looks at The Progressive Corporation’s (PGR) price momentum. With a historical volatility rate of 23.82%, the RSI 9-day stood at 41.39% on 22 June.

With respect to its five-day moving average, the current The Progressive Corporation price is down by -0.50% percent or -$0.56. At present, PGR shares trade -0.97% below its 20-day simple moving average and +3.91% percent above its 100-day simple moving average. However, the stock is currently trading approximately -5.62% below its SMA50 and +16.23% above its SMA200.

Stochastic coefficient K was 18.69% and Stochastic coefficient D was 12.03%, while ATR was 2.74. Given the Stochastic reading of 23.92% for the 14-day period, the RSI (14) reading has been calculated as 44.66%. As of today, the MACD Oscillator reading stands at -1.18, while the 14-day reading stands at -3.86.

Analyst Ratings

Citigroup launched its rating on The Progressive Corporation (NYSE: PGR) to a Sell in a note to investors on May 24, 2022. The Progressive Corporation (PGR) has been rated Hold by analysts. According to 6 brokerage firms, PGR is a sell, and 9 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate The Progressive Corporation stock as buy, with 4 recommending it as overweight.

With a median target price of $110.00, the current consensus forecast for the stock is $79.00 – $136.00. Based on these forecasts, analysts predict The Progressive Corporation (PGR) will achieve an average price target of $109.94.


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