The Progressive Corporation [PGR] is 4.19% higher this YTD. Is it still time to buy?

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The Progressive Corporation [NYSE: PGR] stock went on a downward path that fall over -1.35% on Wednesday, amounting to a one-week price decrease of less than -5.39%. The company report on April 26, 2022 that Progressive Announces Investor Relations Call.

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As previously announced, The Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on Tuesday, May 3, 2022, beginning at 9:30 a.m. eastern time. Consistent with past Investor Relations calls, this quarterly call, which will consist of both a conference call and an audio only webcast, is scheduled to last 60 minutes and will include 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. The webcast will be in a listen-only format and, therefore, participants will not be able to submit questions.

On May 2, 2022, 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.

Over the last 12 months, PGR stock rose by 8.14%. The one-year The Progressive Corporation stock forecast points to a potential upside of 0.62. The average equity rating for PGR stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $65.27 billion, with 583.90 million shares outstanding and 582.96 million shares in the current float. Compared to the average trading volume of 2.55M shares, PGR stock reached a trading volume of 3340576 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $107.62 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.

Piper Sandler have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on April 18, 2022. The new note on the price target was released on March 02, 2022, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise from $106 to $114, while UBS kept a Neutral rating on PGR stock.

The Average True Range (ATR) for The Progressive Corporation is set at 2.73, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.37. The Price to Book ratio for the last quarter was 3.52, with the Price to Cash per share for the same quarter was set at 0.31. Price to Free Cash Flow for PGR in the course of the last twelve months was 17.30.

PGR Stock Performance Analysis:

The Progressive Corporation [PGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.39. With this latest performance, PGR shares dropped by -8.50% in over the last four-week period, additionally plugging by 12.76% over the last 6 months – not to mention a rise of 8.14% 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 39.10, with the RSI for the last a single of trading hit 34.06, and the three-weeks RSI is set at 42.82 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 110.18, while it was recorded at 109.46 for the last single week of trading, and 100.82 for the last 200 days.

Insight into The Progressive Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and The Progressive Corporation [PGR] shares currently have an operating margin of +9.29. The Progressive Corporation’s Net Margin is presently recorded at +7.03.

Return on Equity for this stock inclined to 19.00, with Return on Assets sitting at 5.25.

PGR Stock EPS

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%.

The Progressive Corporation [PGR] Insider Position Details

There are presently around $53,183 million, or 86.20% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 47,203,179, which is approximately -0.845% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 45,790,327 shares of the stock with an approximate value of $4.96 billion in PGR stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $3.06 billion in PGR stock with ownership of nearly 2.726% of the company’s market capitalization.

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 516 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 27,444,977 shares. Additionally, 480 investors decreased positions by around 24,874,559 shares, while 146 investors held positions by with 438,256,238 shares. The mentioned changes placed institutional holdings at 490,575,774 shares, according to the latest SEC report filing. PGR stock had 148 new institutional investments in for a total of 3,587,286 shares, while 75 institutional investors sold positions of 2,131,534 shares during the same period.