The price-to-earnings ratio for Progressive Corp. (NYSE: PGR) is above average at 21.16x. The 36-month beta value for PGR is also noteworthy at 0.34. 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 583.99M, and at present, short sellers hold a 0.73% of that float. The average trading volume of PGR on April 30, 2024 was 2.69M shares.
PGR) stock’s latest price update
Progressive Corp. (NYSE: PGR)’s stock price has dropped by -0.65 in relation to previous closing price of 208.03. Nevertheless, the company has seen a loss of -2.97% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-29 that Progressive (PGR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock’s prospects.
PGR’s Market Performance
Progressive Corp. (PGR) has seen a -2.97% fall in stock performance for the week, with a -0.07% decline in the past month and a 16.26% surge in the past quarter. The volatility ratio for the week is 1.78%, and the volatility levels for the past 30 days are at 1.78% for PGR. The simple moving average for the last 20 days is -1.22% for PGR’s stock, with a simple moving average of 26.61% for the last 200 days.
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 2.26% 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 -4.41% of loss for the given period.
Volatility was left at 1.78%, however, over the last 30 days, the volatility rate increased by 1.78%, as shares sank -1.56% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.21% upper at present.
During the last 5 trading sessions, PGR fell by -2.97%, which changed the moving average for the period of 200-days by +80.06% in comparison to the 20-day moving average, which settled at $209.05. In addition, Progressive Corp. saw 30.33% 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 2.07. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.52.
Conclusion
In summary, Progressive Corp. (PGR) has had a mixed 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.
