At the last check on Thursday, The Progressive Corporation’s (NYSE:PGR) stock was down -$0.18, moving down -0.13 percent to $135.96. The average number of shares traded per day over the past five days has been 2,602,445 shares. 4 times new highs have been achieved over the past 5 days, with a $9.77 gain in that time frame. In the last twenty days, the average volume was 2,577,756, while in the previous 50 days, it was 2,883,905.
Since last month, PGR stock rose 15.01%. Shares of the company fell to $117.64 on 07/19/23, the lowest level in the past month. A 52-week high of $149.87 was reached on 04/11/23 after having rallying from a 52-week low of $110.04. Since the beginning of this year, PGR’s stock price has risen by 4.82% or $6.20, and marked a new high 22 times. However, the stock has declined by -9.28% since its 52-week high.
PGR stock investors should be aware that The Progressive Corporation (PGR) stock had its last reported insider trading activity 14 days ago on Aug 03. Quigg Andrew J, the Chief Strategy Officer of the company, disposed of 5,070 shares for $127.50 on Aug 03. It resulted in a $646,425 divestment by the insider. Sauerland John P sold 12,000 shares at an average price of $126.51 on Jul 27. The insider now owns 309,507 shares following the transaction. On Jun 29, VP and Chief Financial Officer Sauerland John P sold 12,000 shares at $131.81 apiece. The transaction was valued at $1,581,720.
Valuation Metrics
Right now, The Progressive Corporation (PGR) has a P/E ratio of about 46.85. The stock’s beta is 0.45. Besides these, the trailing price-to-sales (P/S) ratio of 1.41, the price-to-book (PB) ratio of 4.90, and the price-to-cash flow ratio of 10.53 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 June 29 was 0.42, and the total debt-to-equity ratio was 0.42. In the year ended June 29, operating margins totaled 4.30%. Based on annual data, PGR earned $922.1 million in gross profit and brought in $49.61 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 4.40%. Return on equity (ROE) for the past 12 months was 11.00%.
In The Progressive Corporation’s quarter-end financial report for June 29, it reported total debt of $6.89 billion. PGR’s revenue rose 24.97% to $14.3 billion during the quarter, while net income inched up to $15.35 billion. While analysts expected The Progressive Corporation to report $0.86 quarterly earnings, the actual figure was $0.4 per share, beating the consensus estimate by -53.50%. The value of shareholders’ equity is $585.33 million.
Technical Picture
This quick technical analysis looks at The Progressive Corporation’s (PGR) price momentum. With a historical volatility rate of 44.68%, the RSI 9-day stood at 70.64% on 16 August.
With respect to its five-day moving average, the current The Progressive Corporation price is up by +7.75% percent or $9.77. At present, PGR shares trade +9.64% above its 20-day simple moving average and -3.22% percent below its 100-day simple moving average. However, the stock is currently trading approximately +4.71% above its SMA50 and +4.79% above its SMA200.
Stochastic coefficient K was 66.05% and Stochastic coefficient D was 51.62%, while ATR was 3.57. Given the Stochastic reading of 89.77% for the 14-day period, the RSI (14) reading has been calculated as 64.43%. As of today, the MACD Oscillator reading stands at 3.74, while the 14-day reading stands at 4.38.
Analyst Ratings
The Progressive Corporation downgraded its rating on The Progressive Corporation (NYSE: PGR) to an Underweight in a note to investors on July 25, 2023. The analysts firm previously had an Equal-weight rating on the stock.The Progressive Corporation (PGR) has been rated Hold by analysts. According to 3 brokerage firms, PGR is a sell, and 10 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate The Progressive Corporation stock as buy, with 7 recommending it as overweight.
With a median target price of $138.00, the current consensus forecast for the stock is $106.00 – $208.00. Based on these forecasts, analysts predict The Progressive Corporation (PGR) will achieve an average price target of $138.88.
