The Progressive Corporation (NYSE:PGR) finished Wednesday with a subtraction of $0.0 to close at $126.50, a downside of 0.00 percent. An average of 2,188,560 shares of common stock have been traded in the last five days. There was a gain of $1.14 in the past week, and it reached a new high 35 times over the past 12 months. The last 20 days have seen an average of 3,958,215 shares traded, while the 50-day average volume stands at 2,960,236.
PGR stock has decreased by -4.29% in the last month. The company shares reached their 1-month lowest point of $111.41 on 07/14/23. With the stock rallying to its 52-week high on 04/11/23, shares of the company touched a low of $110.04 and a high of $149.87 in 52 weeks. It has reached a new high 22 times so far this year and lost -2.47% or -$3.21 in price. In spite of this, the price is down -15.59% from the 52-week high.
Insider Transactions
PGR stock investors should be aware that The Progressive Corporation (PGR) stock had its last reported insider trading activity 7 days ago on Aug 03. In this transaction, the insider spent $646,425. VP and Chief Financial Officer, Sauerland John P, disposed of 12,000 shares at a price of $126.51 on Jul 27. The insider now owns more than $1,518,120 worth of shares. Prior to that, VP and Chief Financial Officer Sauerland John P went on to Sale 12,000 shares at $131.81 each on Jun 29. An amount of $1,581,720 was transacted.
Valuation Metrics
The Progressive Corporation (PGR) has a trailing price-to-earnings (P/E) ratio of 43.59. The stock’s beta is 0.47. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.35, the price-to-book (PB) ratio at 4.56, and the price-to-cash flow ratio at 10.44.
The company has a payout ratio of 13.60%. The company’s most recent quarterly dividend payment was $0.10 a share, without any change from last year. Its latest decrease dividend $1.40 reported on Friday December 10 2021.
Financial Health
Further, the company has a long term debt to equity ratio of 0.42 and a total debt to equity ratio of 0.42 for the quarter ending June 29. Its gross profit as reported stood at $922.1 million compared to revenue of $49.61 billion.
Earnings Surprise
For the three-month period that ended June 29, The Progressive Corporation had $6.89 billion in total debt. The company posted a net income of $335.9 million in the quarter, while revenues were grew 263.62%. The analyst consensus anticipated The Progressive Corporation’s latest quarter earnings to come in at $0.86 per share, but it turned out to be $0.4, a -53.50% surprise. At the end of the quarter ending June 29, The Progressive Corporation’s stock balance sheet showed total debt was $6.89 billion. Shareholders own equity worth $585.33 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 09 August was 50.94%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.73%.
As of today, PGR’s price is $127.21 +0.91% or $1.14 from its 5-day moving average. PGR is currently trading -4.25% lower than its 20-day SMA and -11.46% lower than its 100-day SMA. However, the stock’s current price level is -1.55% below the SMA50 and +6.43% above the SMA200.
The stochastic %K and %D were 68.97% and 74.74%, respectively, and the average true range (ATR) was 2.99. With the 14-day stochastic at 56.95% and the average true range at 3.07, the RSI (14) stands at 49.71%. The stock has reached 0.24 on the 9-day MACD Oscillator while the 14-day reading was at 0.85.
Analyst Ratings
Morgan Stanley downgraded The Progressive Corporation (NYSE: PGR) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as an Equal-weight. The consensus rating for The Progressive Corporation (PGR) among analysts is Hold. According to current brokerage recommendations, 3 brokerage firms advise that investors sell PGR, while 10 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 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 $106.00 and $208.00, with a median target of $138.00. Taking a look at these predictions, the average price target given by analysts for The Progressive Corporation (PGR) stock is $137.47.
