The stock of Progressive Corp. (PGR) has seen a -0.45% decrease in the past week, with a -3.28% drop in the past month, and a 16.14% flourish in the past quarter. The volatility ratio for the week is 2.03%, and the volatility levels for the past 30 days are at 1.79% for PGR. The simple moving average for the last 20 days is -0.70% for PGR stock, with a simple moving average of 17.52% 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 of 18.21x that is above its average ratio. Additionally, the 36-month beta value for PGR is 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.”
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The public float for PGR is 584.00M and currently, short sellers hold a 0.81% ratio of that float. The average trading volume of PGR on October 22, 2024 was 2.29M shares.
PGR) stock’s latest price update
The stock price of Progressive Corp. (NYSE: PGR) has plunged by -0.15 when compared to previous closing price of 251.12, but the company has seen a -0.45% decline in its stock price over the last five trading sessions. zacks.com reported 2024-10-21 that Progressive (PGR) possesses solid growth attributes, which could help it handily outperform the market.
Analysts’ Opinion of PGR
Many brokerage firms have already submitted their reports for PGR stocks, with Barclays repeating the rating for PGR by listing it as a “Equal Weight.” The predicted price for PGR in the upcoming period, according to Barclays is $367 based on the research report published on September 05, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see PGR reach a price target of $262, previously predicting the price at $230. The rating they have provided for PGR stocks is “Buy” according to the report published on August 15th, 2024.
HSBC Securities gave a rating of “Buy” to PGR, setting the target price at $253 in the report published on August 12th of the current year.
PGR Trading at 0.79% 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 -3.73% of loss for the given period.
Volatility was left at 1.79%, however, over the last 30 days, the volatility rate increased by 2.03%, as shares sank -2.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.08% upper at present.
During the last 5 trading sessions, PGR fell by -0.45%, which changed the moving average for the period of 200-days by +53.83% in comparison to the 20-day moving average, which settled at $252.52. In addition, Progressive Corp. saw 58.12% 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 Broz Steven, who proposed sale 2,981 shares at the price of $251.15 back on Oct 21 ’24. After this action, Broz Steven now owns shares of Progressive Corp., valued at $748,678 using the latest closing price.
Van Dyke Kahina, the Director of Progressive Corp., sale 2,180 shares at $252.28 during a trade that took place back on Sep 27 ’24, which means that Van Dyke Kahina is holding 13,723 shares at $549,970 based on the most recent closing price.
Stock Fundamentals for PGR
Current profitability levels for the company are sitting at:
- 0.12 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 0.14. Equity return is now at value 34.45, with 8.99 for asset returns.
Based on Progressive Corp. (PGR), the company’s capital structure generated 0.23 points at debt to capital in total, while cash flow to debt ratio is standing at 1.94. The debt to equity ratio resting at 0.3. The interest coverage ratio of the stock is 30.21.
Currently, EBITDA for the company is 5.2 billion with net debt to EBITDA at 0.79. When we switch over and look at the enterprise to sales, we see a ratio of 2.28. The receivables turnover for the company is 3.47for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.48.
Conclusion
In conclusion, Progressive Corp. (PGR) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it 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.
