The Progressive Corporation [PGR] is 1.38% higher this YTD. Is it still time to buy?

The Progressive Corporation [NYSE: PGR] surged by $0.7 during the normal trading session on Friday and reaching a high of $95.97 during the day while it closed the day at $95.68. The company report on March 30, 2021 that PROTECTIVE INSURANCE INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Protective Insurance Corporation – PTVCA, PTVCB.

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Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Protective Insurance Corporation (NasdaqGS: PTVCA, PTVCB) to The Progressive Corporation (NYSE: PGR). Under the terms of the proposed transaction, shareholders of Protective will receive only $23.30 in cash for each share of Protective that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-ptvca/ to learn more.

The Progressive Corporation stock has also gained 0.14% of its value over the past 7 days. However, PGR stock has inclined by 0.99% in the 3 months of the year. Over the past six months meanwhile, it has gained 3.98% and gained 1.38% year-on date.

The market cap for PGR stock reached $55.58 billion, with 584.90 million shares outstanding and 583.48 million shares in the current float. Compared to the average trading volume of 3.03M shares, PGR reached a trading volume of 2196665 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 $99.19 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 2.60. 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.

Edward Jones have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 19, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $92 to $90. The new note on the price target was released on January 08, 2021, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise to $99, while Wells Fargo analysts kept a Underweight rating on PGR stock. On December 08, 2020, analysts decreased their price target for PGR shares from 102 to 96.

The Average True Range (ATR) for The Progressive Corporation is set at 1.81, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for PGR in the course of the last twelve months was 10.83.

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 0.14. With this latest performance, PGR shares gained by 3.75% in over the last four-week period, additionally plugging by 3.98% over the last 6 months – not to mention a rise of 28.83% 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 60.30, with the RSI for the last a single of trading hit 60.36, and the three-weeks RSI is set at 58.43 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 90.23, while it was recorded at 95.73 for the last single week of trading, and 91.58 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 +17.33. The Progressive Corporation’s Net Margin is presently recorded at +13.38.

Return on Total Capital for PGR is now 35.94, given the latest momentum, and Return on Invested Capital for the company is 28.24. Return on Equity for this stock inclined to 37.15, with Return on Assets sitting at 10.14. When it comes to the capital structure of this company, The Progressive Corporation [PGR] has a Total Debt to Total Equity ratio set at 32.72. Additionally, PGR Total Debt to Total Capital is recorded at 24.65, with Total Debt to Total Assets ending up at 9.18. Long-Term Debt to Equity for the company is recorded at 30.68, with the Long-Term Debt to Total Capital now at 22.44.

Reflecting on the efficiency of the workforce at the company, The Progressive Corporation [PGR] managed to generate an average of $131,667 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 1.91/share EPS, while the average EPS was predicted by analysts to be reported at 1.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 25.70%. 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 -4.01%.

The Progressive Corporation [PGR]: Insider Ownership positions

There are presently around $45,991 million, or 83.90% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 48,263,533, which is approximately -0.521% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 44,189,367 shares of the stock with an approximate value of $4.23 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.25 billion in PGR stock with ownership of nearly -11.773% 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 April and at the time of the April reporting period, where 489 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 26,764,979 shares. Additionally, 436 investors decreased positions by around 29,240,345 shares, while 125 investors held positions by with 424,666,054 shares. The mentioned changes placed institutional holdings at 480,671,378 shares, according to the latest SEC report filing. PGR stock had 114 new institutional investments in for a total of 4,563,583 shares, while 72 institutional investors sold positions of 1,292,780 shares during the same period.

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