The Progressive Corporation [NYSE: PGR] closed the trading session at $96.23 on 08/26/21. The day’s price range saw the stock hit a low of $95.75, while the highest price level was $96.47. The company report on August 26, 2021 that AM Best Removes From Under Review With Positive Implications and Upgrades Issuer Credit Ratings of Protective Insurance Corporation and Its Subsidiaries.
AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating of A (Excellent) of Protective Insurance Company and its wholly owned subsidiaries, Sagamore Insurance Company and Protective Specialty Insurance Company, collectively referred to as Protective Insurance Corporation Group (Protective). AM Best also has removed from under review with positive implications and upgraded the Long-Term ICR to “bbb+” (Good) from “bbb” (Good) of Protective Insurance Corporation, the group’s immediate holding company. The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the rating of Protective Insurance Corporation as company management has requested that this entity no longer participate in AM Best’s interactive ratings process. All companies are domiciled in Carmel, IN.
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The ratings reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
The stocks have a year to date performance of 1.96 percent and weekly performance of 0.03 percent. The stock has been moved at 11.96 percent over the last six months. The stock has performed 1.81 percent around the most recent 30 days and changed -2.95 percent over the most recent 3-months.
If compared to the average trading volume of 2.95M shares, PGR reached to a volume of 2650833 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 $99.67 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.
Wolfe Research have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on August 17, 2021. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $90 to $85. The new note on the price target was released on June 07, 2021, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise to $115, while Raymond James analysts kept a Outperform rating on PGR stock.
The Average True Range (ATR) for The Progressive Corporation is set at 1.46, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 3.09, with the Price to Cash per share for the same quarter was set at 0.17. Price to Free Cash Flow for PGR in the course of the last twelve months was 11.37.
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 0.03. With this latest performance, PGR shares gained by 1.81% in over the last four-week period, additionally plugging by 11.96% over the last 6 months – not to mention a rise of 9.39% 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 49.31, with the RSI for the last a single of trading hit 48.41, and the three-weeks RSI is set at 49.31 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 96.26, while it was recorded at 96.79 for the last single week of trading, and 95.06 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
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 -9.49%.
The Progressive Corporation [PGR]: Insider Ownership positions
There are presently around $47,193 million, or 85.50% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 48,895,366, which is approximately -0.146% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 44,878,302 shares of the stock with an approximate value of $4.32 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $2.65 billion in PGR stock with ownership of nearly -7.555% 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 482 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 34,107,008 shares. Additionally, 438 investors decreased positions by around 26,638,982 shares, while 146 investors held positions by with 429,672,467 shares. The mentioned changes placed institutional holdings at 490,418,457 shares, according to the latest SEC report filing. PGR stock had 82 new institutional investments in for a total of 4,813,309 shares, while 68 institutional investors sold positions of 1,860,827 shares during the same period.