In the past week, PGR stock has gone up by 3.10%, with a monthly gain of 3.61% and a quarterly surge of 25.09%. The volatility ratio for the week is 1.56%, and the volatility levels for the last 30 days are 1.63% for Progressive Corp. The simple moving average for the last 20 days is 2.49% for PGR stock, with a simple moving average of 32.12% for the last 200 days.
Is It Worth Investing in Progressive Corp. (NYSE: PGR) Right Now?
Progressive Corp. (NYSE: PGR) has a higher price-to-earnings ratio of 21.80x compared to its average ratio. PGR has 36-month beta value of 0.33. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 5 as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for PGR is 583.99M, and currently, short sellers hold a 0.75% ratio of that float. The average trading volume of PGR on April 23, 2024 was 2.73M shares.
PGR) stock’s latest price update
The stock of Progressive Corp. (NYSE: PGR) has decreased by -0.79 when compared to last closing price of 214.69. Despite this, the company has experienced a 3.10% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-17 that Investors looking for stocks in the Insurance – Property and Casualty sector might want to consider either Tokio Marine Holdings Inc. (TKOMY) or Progressive (PGR). But which of these two companies is the best option for those looking for undervalued stocks?
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 6.87% 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 -1.01% of loss for the given period.
Volatility was left at 1.63%, however, over the last 30 days, the volatility rate increased by 1.56%, as shares surge +3.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.42% upper at present.
During the last 5 trading sessions, PGR rose by +3.10%, which changed the moving average for the period of 200-days by +61.77% in comparison to the 20-day moving average, which settled at $208.18. In addition, Progressive Corp. saw 34.32% 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 Johnson Devin C, who sale 1,000 shares at the price of $208.33 back on Apr 17 ’24. After this action, Johnson Devin C now owns 7,176 shares of Progressive Corp., valued at $208,326 using the latest closing price.
Bailo Karen, the Commercial Lines President of Progressive Corp., sale 8,464 shares at $189.49 during a trade that took place back on Mar 05 ’24, which means that Bailo Karen is holding 32,342 shares at $1,603,843 based on the most recent closing price.
Stock Fundamentals for PGR
Current profitability levels for the company are sitting at:
- 0.11 for the present operating margin
- 0.99 for the gross margin
The net margin for Progressive Corp. stands at 0.09. The total capital return value is set at 0.12. Equity return is now at value 21.58, with 7.07 for asset returns.
Based on Progressive Corp. (PGR), the company’s capital structure generated 0.24 points at debt to capital in total, while cash flow to debt ratio is standing at 1.19. The debt to equity ratio resting at 0.32. The interest coverage ratio of the stock is 25.15.
Currently, EBITDA for the company is 299.7 million with net debt to EBITDA at 3.61. When we switch over and look at the enterprise to sales, we see a ratio of 2.13. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.52.
Conclusion
To put it simply, Progressive Corp. (PGR) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating 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.
