The stock of Progressive Corp. (PGR) has gone up by 0.53% for the week, with a 3.50% rise in the past month and a 1.65% rise in the past quarter. The volatility ratio for the week is 3.46%, and the volatility levels for the past 30 days are 2.09% for PGR. The simple moving average for the past 20 days is 2.87% for PGR’s stock, with a 17.44% simple moving average for the past 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 18.67x. The stock has a 36-month beta value of 0.35. Opinions on the stock are mixed, with 4 analysts rating it as a “buy,” 5 as “overweight,” 8 as “hold,” and 1 as “sell.”
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The public float for PGR is 584.04M, and at present, short sellers hold a 0.79% of that float. On July 22, 2024, the average trading volume of PGR was 2.57M shares.
PGR) stock’s latest price update
Progressive Corp. (NYSE: PGR) has experienced a decline in its stock price by -0.51 compared to its previous closing price of 219.35. However, the company has seen a gain of 0.53% in its stock price over the last five trading days. zacks.com reported 2024-07-22 that The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here’s why you should take advantage.
Analysts’ Opinion of PGR
Many brokerage firms have already submitted their reports for PGR stocks, with Keefe Bruyette repeating the rating for PGR by listing it as a “Outperform.” The predicted price for PGR in the upcoming period, according to Keefe Bruyette is $245 based on the research report published on July 17, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see PGR reach a price target of $227, previously predicting the price at $185. The rating they have provided for PGR stocks is “Overweight” according to the report published on March 06th, 2024.
TD Cowen gave a rating of “Market Perform” to PGR, setting the target price at $174 in the report published on January 10th of the current year.
PGR Trading at 3.78% 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 -4.70% of loss for the given period.
Volatility was left at 2.09%, however, over the last 30 days, the volatility rate increased by 3.46%, as shares surge +4.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.94% upper at present.
During the last 5 trading sessions, PGR rose by +0.38%, which changed the moving average for the period of 200-days by +56.33% in comparison to the 20-day moving average, which settled at $212.59. In addition, Progressive Corp. saw 37.62% 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 FARAH ROGER N, who sale 5,039 shares at the price of $226.67 back on Jul 18 ’24. After this action, FARAH ROGER N now owns 4,215 shares of Progressive Corp., valued at $1,142,278 using the latest closing price.
Bleser Philip, the Director of Progressive Corp., sale 2,129 shares at $219.08 during a trade that took place back on Jul 17 ’24, which means that Bleser Philip is holding 974 shares at $466,421 based on the most recent closing price.
Stock Fundamentals for PGR
Current profitability levels for the company are sitting at:
- 0.3 for the present operating margin
- 1.0 for the gross margin
The net margin for Progressive Corp. stands at 0.1. The total capital return value is set at 0.34. Equity return is now at value 29.92, with 8.11 for asset returns.
Based on Progressive Corp. (PGR), the company’s capital structure generated 1.0 points at debt to capital in total, while cash flow to debt ratio is standing at 1.8.
Currently, EBITDA for the company is 299.7 million with net debt to EBITDA at 4.16. When we switch over and look at the enterprise to sales, we see a ratio of 2.1. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.48.
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.
