Wall Street Analyst Downgrade The Progressive Corporation [PGR]. What else is Wall St. saying

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The Progressive Corporation [NYSE: PGR] slipped around -1.36 points on Wednesday, while shares priced at $94.52 at the close of the session, down -1.42%. The company report on July 28, 2021 that Progressive Announces Investor Relations Event.

As previously announced, The Progressive Corporation (NYSE: PGR) will host an Investor Relations event on Wednesday, August 4, 2021, beginning at 9:30 a.m. eastern time. The event, which will consist of both a conference call and a live webcast, is scheduled to last 90 minutes and will begin with an approximate 45-minute presentation on our Commercial Lines business, followed by 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, while webcast participants will be able to submit questions online.

On August 3, 2021, 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. In addition, approximately 15 minutes prior to the start of the Investor Relations event, the presentation slides will be available on our events page at: https://investors.progressive.com/events/default.aspx.

The Progressive Corporation stock is now 0.15% up from its year-to-date (YTD) trading value. PGR Stock saw the intraday high of $95.95 and lowest of $94.49 per share. The company’s 52-week high price is 107.58, which means current price is +11.34% above from all time high which was touched on 05/14/21.

Compared to the average trading volume of 3.05M shares, PGR reached a trading volume of 2881990 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 1.91, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 3.19, 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 10.63.

How has PGR stock performed recently?

The Progressive Corporation [PGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.54. With this latest performance, PGR shares dropped by -2.89% in over the last four-week period, additionally plugging by 8.59% over the last 6 months – not to mention a rise of 13.28% 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 43.41, with the RSI for the last a single of trading hit 42.44, and the three-weeks RSI is set at 44.43 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 96.89, while it was recorded at 94.63 for the last single week of trading, and 94.95 for the last 200 days.

The Progressive Corporation [PGR]: Deeper insight into the 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 analysis for The Progressive Corporation [PGR]

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 -9.66%.

Insider trade positions for The Progressive Corporation [PGR]

There are presently around $45,714 million, or 84.60% 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 0.30% of the total institutional ownership; BLACKROCK INC., holding 45,573,372 shares of the stock with an approximate value of $4.31 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $2.81 billion in PGR stock with ownership of nearly -12.51% 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 July and at the time of the July reporting period, where 477 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 36,813,401 shares. Additionally, 462 investors decreased positions by around 34,723,314 shares, while 127 investors held positions by with 412,107,852 shares. The mentioned changes placed institutional holdings at 483,644,567 shares, according to the latest SEC report filing. PGR stock had 89 new institutional investments in for a total of 4,613,732 shares, while 77 institutional investors sold positions of 4,942,838 shares during the same period.

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