The Progressive Corporation [PGR] gain 4.12% so far this year. What now?

The Progressive Corporation [NYSE: PGR] slipped around -6.78 points on Wednesday, while shares priced at $135.06 at the close of the session, down -4.78%. The company report on March 15, 2023 that Progressive Reports February 2023 Results.

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The Progressive Corporation (NYSE:PGR) today reported the following results for February 2023:.

The Progressive Corporation stock is now 4.12% up from its year-to-date (YTD) trading value. PGR Stock saw the intraday high of $141.13 and lowest of $133.68 per share. The company’s 52-week high price is 146.50, which means current price is +7.78% above from all time high which was touched on 03/06/23.

Compared to the average trading volume of 2.28M shares, PGR reached a trading volume of 4010774 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 $145.87 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.

Piper Sandler have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 13, 2023. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Outperform. The new note on the price target was released on January 20, 2023, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise from $123 to $142, while Jefferies kept a Buy rating on PGR stock. On June 24, 2022, analysts increased their price target for PGR shares from 96 to 107.

The Average True Range (ATR) for The Progressive Corporation is set at 2.96, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 5.13, with the Price to Cash per share for the same quarter was set at 0.34. Price to Free Cash Flow for PGR in the course of the last twelve months was 12.63.

How has PGR stock performed recently?

The Progressive Corporation [PGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.05. With this latest performance, PGR shares dropped by -3.33% in over the last four-week period, additionally plugging by 6.59% over the last 6 months – not to mention a rise of 27.76% 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 37.69, with the RSI for the last a single of trading hit 30.10, and the three-weeks RSI is set at 43.14 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 137.20, while it was recorded at 139.83 for the last single week of trading, and 126.03 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 +2.80. The Progressive Corporation’s Net Margin is presently recorded at +1.46.

Return on Equity for this stock inclined to 4.23, with Return on Assets sitting at 1.05.

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 28.64%.

Insider trade positions for The Progressive Corporation [PGR]

There are presently around $67,805 million, or 86.70% of PGR stock, in the hands of institutional investors. The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 50,562,142, which is approximately 1.355% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 43,453,751 shares of the stock with an approximate value of $5.87 billion in PGR stocks shares; and JPMORGAN CHASE & CO, currently with $3.53 billion in PGR stock with ownership of nearly -4.738% of the company’s market capitalization.

Positions in The Progressive Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 584 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 27,728,176 shares. Additionally, 524 investors decreased positions by around 21,818,546 shares, while 160 investors held positions by with 452,488,468 shares. The mentioned changes placed institutional holdings at 502,035,190 shares, according to the latest SEC report filing. PGR stock had 166 new institutional investments in for a total of 4,778,376 shares, while 76 institutional investors sold positions of 1,304,173 shares during the same period.


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