The Progressive Corporation [NYSE: PGR] plunged by -$0.61 during the normal trading session on Thursday and reaching a high of $93.895 during the day while it closed the day at $93.40. The company report on July 15, 2021 that Progressive Reports June 2021 Results.
The Progressive Corporation (NYSE:PGR) reported the following results for June 2021 and the second quarter of 2021:.
The Progressive Corporation stock has also loss -1.63% of its value over the past 7 days. However, PGR stock has declined by -6.74% in the 3 months of the year. Over the past six months meanwhile, it has lost -0.91% and lost -1.03% year-on date.
The market cap for PGR stock reached $53.95 billion, with 584.90 million shares outstanding and 583.09 million shares in the current float. Compared to the average trading volume of 3.01M shares, PGR reached a trading volume of 3834680 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 $102.50 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 2.70. 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.
Morgan Stanley have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 07, 2021. The new note on the price target was released on April 19, 2021, representing the official price target for The Progressive Corporation stock. On January 08, 2021, analysts decreased their price target for PGR shares from 92 to 90.
The Average True Range (ATR) for The Progressive Corporation is set at 2.10, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 0.21. Price to Free Cash Flow for PGR in the course of the last twelve months was 10.52.
PGR stock trade performance evaluation
The Progressive Corporation [PGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.63. With this latest performance, PGR shares dropped by -1.63% in over the last four-week period, additionally sinking by -0.91% over the last 6 months – not to mention a rise of 8.56% 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 36.78, with the RSI for the last a single of trading hit 31.32, and the three-weeks RSI is set at 40.13 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 97.79, while it was recorded at 94.52 for the last single week of trading, and 95.00 for the last 200 days.
The Progressive Corporation [PGR]: An insightful look at the core fundamentals
Earnings per share (EPS) analysis for The Progressive Corporation [PGR] stock
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 -9.99%.
The Progressive Corporation [PGR]: Insider Ownership positions
There are presently around $45,131 million, or 84.30% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 48,966,715, which is approximately 1.457% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 45,573,372 shares of the stock with an approximate value of $4.26 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $2.78 billion in PGR stock with ownership of nearly -12.51% of the company’s market capitalization.
477 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 37,617,613 shares. Additionally, 473 investors decreased positions by around 34,940,816 shares, while 122 investors held positions by with 410,641,534 shares. The mentioned changes placed institutional holdings at 483,199,963 shares, according to the latest SEC report filing. PGR stock had 89 new institutional investments in for a total of 4,603,642 shares, while 86 institutional investors sold positions of 5,173,387 shares during the same period.