The Progressive Corporation (NYSE:PGR) finished Wednesday with a subtraction of -$0.14 to close at $130.39, a downside of -0.11 percent. An average of 2,362,040 shares of common stock have been traded in the last five days. There was a fall of -$5.75 in the past week, and it reached a new high 33 times over the past 12 months. The last 20 days have seen an average of 2,520,535 shares traded, while the 50-day average volume stands at 2,970,140.
PGR stock has increased by 5.54% in the last month. The company shares reached their 1-month lowest point of $121.87 on 07/25/23. 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 achieved 0.52% or $0.68 in price. In spite of this, the price is down -13.00% 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 21 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 44.93. The stock’s beta is 0.46. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.38, the price-to-book (PB) ratio at 4.70, and the price-to-cash flow ratio at 10.33.
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 23 August was 53.00%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.30%.
As of today, PGR’s price is $132.45 -4.22% or -$5.75 from its 5-day moving average. PGR is currently trading +3.30% higher than its 20-day SMA and -9.32% lower than its 100-day SMA. However, the stock’s current price level is -0.23% below the SMA50 and +2.41% above the SMA200.
The stochastic %K and %D were 52.75% and 62.63%, respectively, and the average true range (ATR) was 3.07. With the 14-day stochastic at 47.88% and the average true range at 3.12, the RSI (14) stands at 53.21%. The stock has reached 0.23 on the 9-day MACD Oscillator while the 14-day reading was at 1.71.
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 $139.24.
