The Progressive Corporation [NYSE: PGR] closed the trading session at $90.62 on 08/05/20. The day’s price range saw the stock hit a low of $90.555, while the highest price level was $91.81. The company report on July 29, 2020 that Progressive Announces Investor Relations Conference Call.
As previously announced, The Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on Wednesday, August 5, 2020, beginning at 10:00 a.m. eastern time. Consistent with the first quarter 2020 Investor Relations call, this quarterly call, which will consist of both a conference call and an audio only webcast, is scheduled to last 60 minutes and will include a question and answer session with Tricia Griffith, our CEO, and John Sauerland, our CFO. Call-in participants will be able to ask questions via the phone. Participants via the webcast will be in a listen-only format and, therefore, will not be able to submit questions.
On August 4, 2020, Progressive expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission and post its Shareholders’ Report, including the Letter to Shareholders from Tricia Griffith, to its website at www.progressive.com/annualreport.
The stocks have a year to date performance of 29.02 percent and weekly performance of 1.91 percent. The stock has been moved at 9.18 percent over the last six months. The stock has performed 16.15 percent around the most recent 30 days and changed 18.94 percent over the most recent 3-months.
If compared to the average trading volume of 2.97M shares, PGR reached to a volume of 2073534 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about The Progressive Corporation [PGR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGR shares is $91.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 11, 2020. The new note on the price target was released on June 01, 2020, representing the official price target for The Progressive Corporation stock. On March 11, 2020, analysts decreased their price target for PGR shares from 96 to 83.
The Average True Range (ATR) for The Progressive Corporation is set at 1.78, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for PGR in the course of the last twelve months was 12.21.
PGR stock trade performance evaluation
The Progressive Corporation [PGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.91. With this latest performance, PGR shares gained by 16.15% in over the last four-week period, additionally plugging by 9.18% over the last 6 months – not to mention a rise of 17.41% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGR stock in for the last two-week period is set at 66.61, with the RSI for the last a single of trading hit 71.04, and the three-weeks RSI is set at 65.41 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 82.27, while it was recorded at 89.92 for the last single week of trading, and 77.01 for the last 200 days.
The Progressive Corporation [PGR]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and The Progressive Corporation [PGR] shares currently have an operating margin of +13.86. The Progressive Corporation’s Net Margin is presently recorded at +10.16.
Return on Total Capital for PGR is now 31.89, given the latest momentum, and Return on Invested Capital for the company is 23.75. Return on Equity for this stock inclined to 32.42, with Return on Assets sitting at 7.77. When it comes to the capital structure of this company, The Progressive Corporation [PGR] has a Total Debt to Total Equity ratio set at 33.71. Additionally, PGR Total Debt to Total Capital is recorded at 25.21, with Total Debt to Total Assets ending up at 8.40. Long-Term Debt to Equity for the company is recorded at 34.38, with the Long-Term Debt to Total Capital now at 24.78.
Reflecting on the efficiency of the workforce at the company, The Progressive Corporation [PGR] managed to generate an average of $95,506 per employee.
Earnings per share (EPS) analysis for The Progressive Corporation [PGR] stock
With the latest financial reports released by the company, The Progressive Corporation posted 1.33/share EPS, while the average EPS was predicted by analysts to be reported at 1.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Progressive Corporation go to 0.10%.
The Progressive Corporation [PGR]: Insider Ownership positions
There are presently around $43,551 million, or 83.40% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 48,970,842, which is approximately 2.418% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 42,305,646 shares of the stock with an approximate value of $3.83 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.51 billion in PGR stock with ownership of nearly 25.577% of the company’s market capitalization.
Positions in The Progressive Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 427 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 53,321,897 shares. Additionally, 443 investors decreased positions by around 41,035,884 shares, while 110 investors held positions by with 386,235,917 shares. The mentioned changes placed institutional holdings at 480,593,698 shares, according to the latest SEC report filing. PGR stock had 104 new institutional investments in for a total of 10,423,843 shares, while 84 institutional investors sold positions of 7,215,943 shares during the same period.