The Progressive Corporation [PGR] moved up 0.82: Why It’s Important

The Progressive Corporation [NYSE: PGR] closed the trading session at $90.25 on 12/07/20. The day’s price range saw the stock hit a low of $89.44, while the highest price level was $91.32. The company report on December 5, 2020 that Progressive Announces Dividend Information and 2021 Annual Meeting Record Date.

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The Board of Directors of The Progressive Corporation (NYSE:PGR) declared a quarterly common share dividend, in the amount of $0.10 per share and an annual common share dividend, in the amount of $4.50 per share. The aggregate common share dividend of $4.60 per share is payable January 15, 2021, to shareholders of record at the close of business on January 8, 2021 (ex-dividend date of January 7, 2021). The Board is expected to continue to target the quarterly dividend to be approximately $0.10 per common share for 2021. The 2020 annual dividend amount was determined by the Board based on our capital position, existing capital resources, and expected current and future capital needs.

In addition, the Board declared a dividend on our outstanding Series B Fixed-to-Floating Rate Cumulative Perpetual Serial Preferred Shares in the amount of $26.875 per Series B Share, or $13.4 million in the aggregate. The dividend, which is based on the annual rate of 5.375% of the stated amount of $1,000 per Series B Share, will be paid on March 15, 2021, to shareholders of record at the close of business on March 1, 2021.

The stocks have a year to date performance of 28.49 percent and weekly performance of 3.60 percent. The stock has been moved at 11.39 percent over the last six months. The stock has performed -7.24 percent around the most recent 30 days and changed -1.70 percent over the most recent 3-months.

If compared to the average trading volume of 2.36M shares, PGR reached to a volume of 3120599 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 $99.56 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 2.40. 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.

Keefe Bruyette have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on December 02, 2020. While these analysts kept the previous recommendation, Barclays raised their target price to Underweight. The new note on the price target was released on November 17, 2020, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise to $102, while Morgan Stanley analysts kept a Equal-Weight rating on PGR stock.

The Average True Range (ATR) for The Progressive Corporation is set at 2.42, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 0.16. Price to Free Cash Flow for PGR in the course of the last twelve months was 11.15.

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 3.60. With this latest performance, PGR shares dropped by -7.24% in over the last four-week period, additionally plugging by 11.39% over the last 6 months – not to mention a rise of 27.45% 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 44.09, with the RSI for the last a single of trading hit 46.86, and the three-weeks RSI is set at 45.47 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 93.96, while it was recorded at 89.29 for the last single week of trading, and 85.15 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 8.00. 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 1.18/share EPS, while the average EPS was predicted by analysts to be reported at 1.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.70%. 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 1.90%.

The Progressive Corporation [PGR]: Insider Ownership positions

There are presently around $43,690 million, or 84.90% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 48,516,518, which is approximately -0.941% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 44,504,907 shares of the stock with an approximate value of $4.02 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.48 billion in PGR stock with ownership of nearly -4.365% of the company’s market capitalization.

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Positions in The Progressive Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 439 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 27,894,137 shares. Additionally, 441 investors decreased positions by around 24,485,839 shares, while 142 investors held positions by with 431,714,648 shares. The mentioned changes placed institutional holdings at 484,094,624 shares, according to the latest SEC report filing. PGR stock had 108 new institutional investments in for a total of 5,869,749 shares, while 64 institutional investors sold positions of 2,176,342 shares during the same period.

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