The stock of The Progressive Corporation (NYSE:PGR) increased by $1.91 on Tuesday to finish at $142.47, up 1.36 percent. The last five days have seen an average of 2,566,060 shares of common stock traded. 22 times new highs were reached in the current year, with a gain of $12.76. The average number of shares traded over the last 20 days was 2,033,760, while the average volume over the last 50 days totaled 2,912,348.
PGR stock appreciated 6.38% since last month. On 08/23/23, the company’s shares reached a one-month low of $129.31. The stock touched a high of $149.87 on 04/11/23, after rallying from a low of $110.04 in 52 weeks. The price of PGR stock has risen by 9.84% or $12.76 this year, reaching a new high 22 times. Still, the stock price is down -4.94% 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 2 days ago on Sep 18. On Sep 18, Vice Pres, Secretary and CLO Mascaro Daniel P sold 1,570 shares at $140.39 each. This transaction resulted in the insider making $220,412. On Sep 15, Sauerland John P sold 12,000 shares at a price of US$135.19. After the transaction, the insider now owns 285,507 shares. Director Snyder Barbara R had earlier sold 21,731 shares on Aug 30 for $133.09 a share. The transaction was completed for $2,892,216.
Valuation Metrics
The Progressive Corporation (PGR) has a trailing price-to-earnings (P/E) ratio of 49.09. Beta for the stock is 0.46. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.50, the price-to-book (PB) ratio of 5.14, and the price-to-cash flow ratio of 11.25.
Company paid $0.10 per share in dividends, remained unchanged from $0.10 last year. A $1.40 dividend decrease was reported on Friday December 10 2021.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.42, and the total debt to equity ratio is 0.42. The Progressive Corporation’s operating margin stood at 4.30% for the same period. Based on annual data, it had gross profit of $922.1 million and revenue of $49.61 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 2.20%. There was a 4.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 11.00%.
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 $15.35 billion, while revenues rose by 24.97% to $14.3 billion. It was predicted that The Progressive Corporation’s quarterly earnings would be $0.4, but it ended up being $0.86, beating the consensus by -53.50%. At the end of The Progressive Corporation’s most recent quarter ended June 29, its total debt was $6.89 billion. Equity owned by shareholders amounts to $585.33 million.
Technical Picture
Here’s a quick look at The Progressive Corporation’s (PGR) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 74.56%, suggesting the stock is Overbought, with a 14.08% historical volatility rate.
The stochastic %K and %D were 93.19% and 91.41% respectively, while the average true range (ATR) was 2.66. Based on the 14-day stochastic reading of 98.38%, the RSI (14) reading is 69.04%. On the 9-day MACD Oscillator, the stock is at 1.75, and the 14-day reading is at 3.38.
Analyst Ratings
The Progressive Corporation (NYSE: PGR) was downgraded by Morgan Stanley to a an Underweight rating in its latest research report. The stock was previously rated as a an Equal-weight. Analysts have assigned The Progressive Corporation (PGR) an Hold rating. PGR is a stock that is recommended for selling by 3 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 7 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 $109.00 and $203.00, with a median target price of $140.00. In analyzing these forecasts, the average price target given by analysts for The Progressive Corporation (PGR) is $141.41.
