Market Analysts see The Progressive Corporation [PGR] gaining to $118. Time to buy?


The Progressive Corporation [NYSE: PGR] traded at a low on 01/11/22, posting a -0.98 loss after which it closed the day’ session at $108.92. The company report on December 15, 2021 that Progressive Reports November 2021 Results.

The Progressive Corporation (NYSE:PGR) today reported the following results for November 2021:.

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The results of the trading session contributed to over 4124019 shares changing hands. Over the past one week, the price volatility of The Progressive Corporation stands at 2.43% while the volatility over the past one month is 2.06%.

The market cap for PGR stock reached $61.43 billion, with 584.70 million shares outstanding and 583.16 million shares in the current float. Compared to the average trading volume of 2.71M shares, PGR reached a trading volume of 4124019 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 $100.07 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 3.00. 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.

Evercore ISI have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 06, 2022. While these analysts kept the previous recommendation, Keefe Bruyette dropped their target price from $95 to $92. The new note on the price target was released on December 16, 2021, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise to $104, while Goldman analysts kept a Buy rating on PGR stock.

The Average True Range (ATR) for The Progressive Corporation is set at 2.17, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 3.53, with the Price to Cash per share for the same quarter was set at 0.48. Price to Free Cash Flow for PGR in the course of the last twelve months was 10.68.

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 6.62. With this latest performance, PGR shares gained by 16.27% in over the last four-week period, additionally plugging by 13.42% over the last 6 months – not to mention a rise of 16.26% 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 74.98, with the RSI for the last a single of trading hit 75.56, and the three-weeks RSI is set at 69.99 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 98.07, while it was recorded at 107.25 for the last single week of trading, and 96.86 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 27.90. 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 33.70, with the Long-Term Debt to Total Capital now at 24.65.

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 -10.10%.

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Insider trade positions for The Progressive Corporation [PGR]

There are presently around $53,073 million, or 86.00% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 47,605,450, which is approximately -2.638% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 44,396,739 shares of the stock with an approximate value of $4.84 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.0 billion in PGR stock with ownership of nearly 0.008% of the company’s market capitalization.

Positions in The Progressive Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 460 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 31,135,171 shares. Additionally, 467 investors decreased positions by around 27,784,654 shares, while 143 investors held positions by with 428,348,289 shares. The mentioned changes placed institutional holdings at 487,268,114 shares, according to the latest SEC report filing. PGR stock had 89 new institutional investments in for a total of 7,699,121 shares, while 88 institutional investors sold positions of 1,535,797 shares during the same period.