Progressive Corp. (NYSE:PGR) finished Friday with a subtraction of -$1.11 to close at $139.30, a downside of -0.79 percent. An average of 1,958,660 shares of common stock have been traded in the last five days. There was a fall of -$3.96 in the past week, and it reached a new high 34 times over the past 12 months. The last 20 days have seen an average of 2,148,275 shares traded, while the 50-day average volume stands at 2,312,620.
PGR stock has increased by 3.93% in the last month. The company shares reached their 1-month lowest point of $131.87 on 08/30/23. 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 7.39% or $9.59 in price. In spite of this, the price is down -7.05% from the 52-week high.
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Insider Transactions
PGR stock investors should be aware that Progressive Corp. (PGR) stock had its last reported insider trading activity 12 days ago on Sep 18. In this transaction, the insider spent $220,412. VP and Chief Financial Officer, Sauerland John P, disposed of 12,000 shares at a price of $135.19 on Sep 15. The insider now owns more than $1,622,280 worth of shares. Prior to that, Director Snyder Barbara R went on to Sale 21,731 shares at $133.09 each on Aug 30. An amount of $2,892,216 was transacted.
Valuation Metrics
Progressive Corp. (PGR) has a trailing price-to-earnings (P/E) ratio of 47.73. The stock’s beta is 0.44. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.46, the price-to-book (PB) ratio at 5.03, and the price-to-cash flow ratio at 10.94.
The company has a payout ratio of 33.81%. 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 0.41 and a total debt to equity ratio of 0.41 for the quarter ending June 29. Its gross profit as reported stood at $922.1 million compared to revenue of $49.61 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Progressive Corp.’s return on assets was 2.41%.
Earnings Surprise
For the three-month period that ended June 29, Progressive Corp. 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 Progressive Corp.’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, Progressive Corp.’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 Progressive Corp. (PGR) price momentum. RSI 9-day as of the close on 29 September was 48.83%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.27%.
As of today, PGR’s price is $140.70 -2.76% or -$3.96 from its 5-day moving average. PGR is currently trading +4.37% higher than its 20-day SMA and +3.89% higher than its 100-day SMA. However, the stock’s current price level is +12.37% above the SMA50 and +7.20% above the SMA200.
The stochastic %K and %D were 57.87% and 63.51%, respectively, and the average true range (ATR) was 2.19. With the 14-day stochastic at 49.75% and the average true range at 2.34, the RSI (14) stands at 55.02%. The stock has reached -1.48 on the 9-day MACD Oscillator while the 14-day reading was at -0.68.
Analyst Ratings
Morgan Stanley downgraded Progressive Corp. (NYSE: PGR) to a an Underweight rating in its most recent analyst report. Previously, the stock was rated as an Equal-weight.
