In the past week, PGR stock has gone up by 0.21%, with a monthly gain of 7.28% and a quarterly surge of 29.88%. The volatility ratio for the week is 1.23%, and the volatility levels for the last 30 days are 1.50% for Progressive Corp. The simple moving average for the last 20 days is 2.53% for PGR’s stock, with a simple moving average of 33.66% for the last 200 days.
Is It Worth Investing in Progressive Corp. (NYSE: PGR) Right Now?
Progressive Corp. (NYSE: PGR) has a price-to-earnings ratio that is above its average at 31.98x. The stock has a 36-month beta value of 0.34. Opinions on the stock are mixed, with 4 analysts rating it as a “buy,” 5 as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for PGR is 583.98M, and at present, short sellers hold a 0.79% of that float. On April 09, 2024, the average trading volume of PGR was 2.55M shares.
PGR) stock’s latest price update
Progressive Corp. (NYSE: PGR)’s stock price has dropped by -0.29 in relation to previous closing price of 211.00. Nevertheless, the company has seen a gain of 0.21% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-05 that Progressive (PGR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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 8.60% 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 unable to rebound, for now settling with -0.87% of loss for the given period.
Volatility was left at 1.50%, however, over the last 30 days, the volatility rate increased by 1.23%, as shares surge +6.04% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.19% upper at present.
During the last 5 trading sessions, PGR rose by +0.21%, which changed the moving average for the period of 200-days by +61.09% in comparison to the 20-day moving average, which settled at $205.80. In addition, Progressive Corp. saw 32.67% 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 2.1. 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
To sum up, Progressive Corp. (PGR) has seen a better performance recently. Analysts have differing views on the stock, with some seeing 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.
