The Progressive Corporation [NYSE: PGR] stock went on a downward path that fall over -0.32% on Wednesday, amounting to a one-week price increase of more than 2.68%. The company report on March 15, 2023 that Progressive Reports February 2023 Results.
The Progressive Corporation (NYSE:PGR) today reported the following results for February 2023:.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Over the last 12 months, PGR stock rose by 25.01%. The one-year The Progressive Corporation stock forecast points to a potential downside of -0.78. The average equity rating for PGR stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $86.22 billion, with 584.40 million shares outstanding and 582.96 million shares in the current float. Compared to the average trading volume of 2.48M shares, PGR stock reached a trading volume of 2817419 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 $147.00 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.
Wells Fargo have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 16, 2023. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $133 to $138. The new note on the price target was released on February 13, 2023, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise to $155, while BMO Capital Markets analysts kept a Outperform rating on PGR stock. On October 07, 2022, analysts increased their price target for PGR shares from 123 to 142.
The Average True Range (ATR) for The Progressive Corporation is set at 2.86, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 5.62, with the Price to Cash per share for the same quarter was set at 0.35. Price to Free Cash Flow for PGR in the course of the last twelve months was 13.64.
PGR Stock Performance Analysis:
The Progressive Corporation [PGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.68. With this latest performance, PGR shares gained by 6.18% in over the last four-week period, additionally plugging by 19.74% over the last 6 months – not to mention a rise of 25.01% 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 61.30, with the RSI for the last a single of trading hit 64.68, and the three-weeks RSI is set at 59.61 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 141.54, while it was recorded at 147.90 for the last single week of trading, and 128.65 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 +2.80. The Progressive Corporation’s Net Margin is presently recorded at +1.46.
Return on Total Capital for PGR is now -5.40, given the latest momentum, and Return on Invested Capital for the company is 3.16. Return on Equity for this stock inclined to 4.23, with Return on Assets sitting at 1.05. When it comes to the capital structure of this company, The Progressive Corporation [PGR] has a Total Debt to Total Equity ratio set at 41.06. Additionally, PGR Total Debt to Total Capital is recorded at 29.11, with Total Debt to Total Assets ending up at 9.29. Long-Term Debt to Equity for the company is recorded at 42.38, with the Long-Term Debt to Total Capital now at 29.11.
Reflecting on the efficiency of the workforce at the company, The Progressive Corporation [PGR] managed to generate an average of $13,103 per employee.
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 28.64%.
The Progressive Corporation [PGR] Insider Position Details
There are presently around $74,121 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 $6.46 billion in PGR stocks shares; and JPMORGAN CHASE & CO, currently with $3.88 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 Thursday and at the time of the Thursday reporting period, where 577 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 27,528,654 shares. Additionally, 519 investors decreased positions by around 21,802,568 shares, while 160 investors held positions by with 449,396,081 shares. The mentioned changes placed institutional holdings at 498,727,303 shares, according to the latest SEC report filing. PGR stock had 161 new institutional investments in for a total of 4,575,038 shares, while 77 institutional investors sold positions of 1,299,384 shares during the same period.