The Progressive Corporation [NYSE: PGR] stock went on an upward path that rose over 5.27% on Wednesday, amounting to a one-week price increase of more than 1.65%. The company report on May 17, 2023 at 8:23 AM that Progressive Reports April 2023 Results.
The Progressive Corporation (NYSE:PGR) today reported the following results for April 2023:.
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Over the last 12 months, PGR stock rose by 24.46%. The one-year The Progressive Corporation stock forecast points to a potential upside of 7.99. The average equity rating for PGR stock is currently 2.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $80.27 billion, with 584.90 million shares outstanding and 582.93 million shares in the current float. Compared to the average trading volume of 2.86M shares, PGR stock reached a trading volume of 4312220 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 $148.47 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 2.60. 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.
BMO Capital Markets have made an estimate for The Progressive Corporation shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on April 27, 2023. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $116 to $158. The new note on the price target was released on March 16, 2023, representing the official price target for The Progressive Corporation stock. Previously, the target price had yet another raise from $133 to $138, while Piper Sandler kept a Neutral rating on PGR stock.
The Average True Range (ATR) for The Progressive Corporation is set at 3.86, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.54. The Price to Book ratio for the last quarter was 4.88, with the Price to Cash per share for the same quarter was set at 0.47. Price to Free Cash Flow for PGR in the course of the last twelve months was 12.74.
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 1.65. With this latest performance, PGR shares dropped by -1.44% in over the last four-week period, additionally plugging by 11.07% over the last 6 months – not to mention a rise of 24.46% 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 52.77, with the RSI for the last a single of trading hit 57.25, and the three-weeks RSI is set at 50.78 for The Progressive Corporation [PGR]. The present Moving Average for the last 50 days of trading for this stock 138.32, while it was recorded at 133.15 for the last single week of trading, and 131.03 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 27.65%.
The Progressive Corporation [PGR] Insider Position Details
There are presently around $68,645 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 51,307,985, which is approximately 1.475% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 42,899,297 shares of the stock with an approximate value of $5.86 billion in PGR stocks shares; and JPMORGAN CHASE & CO, currently with $3.57 billion in PGR stock with ownership of nearly -0.081% 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 574 institutional holders increased their position in The Progressive Corporation [NYSE:PGR] by around 25,757,205 shares. Additionally, 555 investors decreased positions by around 20,000,690 shares, while 176 investors held positions by with 456,765,669 shares. The mentioned changes placed institutional holdings at 502,523,564 shares, according to the latest SEC report filing. PGR stock had 140 new institutional investments in for a total of 3,862,344 shares, while 92 institutional investors sold positions of 1,483,938 shares during the same period.