In the past week, PGR stock has gone up by 2.07%, with a monthly gain of 10.76% and a quarterly surge of 33.18%. The volatility ratio for the week is 1.34%, and the volatility levels for the last 30 days are 1.59% for Progressive Corp. The simple moving average for the last 20 days is 4.66% for PGR stock, with a simple moving average of 35.13% for the last 200 days.
Is It Worth Investing in Progressive Corp. (NYSE: PGR) Right Now?
The price-to-earnings ratio for Progressive Corp. (NYSE: PGR) is above average at 31.91x. The 36-month beta value for PGR is also noteworthy at 0.35. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 5 rating it as “overweight,” 8 rating it as “hold,” and 1 rating it as “sell.”
The public float for PGR is 583.98M, and at present, short sellers hold a 0.79% of that float. The average trading volume of PGR on April 02, 2024 was 2.49M shares.
PGR) stock’s latest price update
The stock price of Progressive Corp. (NYSE: PGR) has surged by 1.51 when compared to previous closing price of 206.82, but the company has seen a 2.07% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-01 that The Zacks Rank is a reliable tool that helps you trade with confidence regardless of your trading style and/or risk tolerance. Here are three powerful examples of the strategy in action.
Analysts’ Opinion of PGR
Many brokerage firms have already submitted their reports for PGR stocks, with Morgan Stanley repeating the rating for PGR by listing it as a “Overweight.” The predicted price for PGR in the upcoming period, according to Morgan Stanley is $227 based on the research report published on March 06, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see PGR reach a price target of $174. The rating they have provided for PGR stocks is “Market Perform” according to the report published on January 10th, 2024.
HSBC Securities gave a rating of “Hold” to PGR, setting the target price at $164 in the report published on December 28th of the previous year.
PGR Trading at 10.56% from the 50-Day Moving Average
After a stumble in the market that brought PGR to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.85% of gains for the given period.
Volatility was left at 1.59%, however, over the last 30 days, the volatility rate increased by 1.34%, as shares surge +11.78% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +23.57% upper at present.
During the last 5 trading sessions, PGR rose by +2.07%, which changed the moving average for the period of 200-days by +59.44% in comparison to the 20-day moving average, which settled at $201.71. In addition, Progressive Corp. saw 32.40% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PGR starting from Bailo Karen, who sale 8,464 shares at the price of $189.49 back on Mar 05 ’24. After this action, Bailo Karen now owns 32,342 shares of Progressive Corp., valued at $1,603,843 using the latest closing price.
Callahan Patrick K, the Personal Lines President of Progressive Corp., sale 29,675 shares at $190.26 during a trade that took place back on Feb 21 ’24, which means that Callahan Patrick K is holding 15,189 shares at $5,645,966 based on the most recent closing price.
Stock Fundamentals for PGR
Current profitability levels for the company are sitting at:
- 0.07 for the present operating margin
- 0.99 for the gross margin
The net margin for Progressive Corp. stands at 0.06. The total capital return value is set at 0.08. Equity return is now at value 21.58, with 5.05 for asset returns.
Based on Progressive Corp. (PGR), the company’s capital structure generated 0.25 points at debt to capital in total, while cash flow to debt ratio is standing at 1.55. The debt to equity ratio resting at 0.34. The interest coverage ratio of the stock is 16.56.
Currently, EBITDA for the company is 299.7 million with net debt to EBITDA at 1.54. When we switch over and look at the enterprise to sales, we see a ratio of 2.09. The receivables turnover for the company is 3.64for trailing twelve months and the total asset turnover is 0.74. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.81.
Conclusion
In summary, Progressive Corp. (PGR) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
