Progressive Corp. [NYSE: PGR] stock went on a downward path that fall over -0.07% on Thursday, amounting to a one-week price increase of more than 1.83%. The company report on March 15, 2024 at 8:18 AM that Progressive Reports February 2024 Results.
The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended February 29, 2024:.
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Over the last 12 months, PGR stock rose by 47.24%. The one-year Progressive Corp. stock forecast points to a potential upside of 1.76. The average equity rating for PGR stock is currently 1.91, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $120.40 billion, with 585.30 million shares outstanding and 583.98 million shares in the current float. Compared to the average trading volume of 2.30M shares, PGR stock reached a trading volume of 3396738 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Progressive Corp. [PGR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGR shares is $209.25 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 1.91. 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.
Morgan Stanley have made an estimate for Progressive Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 06, 2024. While these analysts kept the previous recommendation, TD Cowen raised their target price to Market Perform. The new note on the price target was released on January 10, 2024, representing the official price target for Progressive Corp. stock. Previously, the target price had yet another raise to $164, while HSBC Securities analysts kept a Hold rating on PGR stock. On December 18, 2023, analysts increased their price target for PGR shares from 144 to 176.
The Average True Range (ATR) for Progressive Corp. is set at 3.36, with the Price to Sales ratio for PGR stock in the period of the last 12 months amounting to 1.94. The Price to Book ratio for the last quarter was 6.08. Price to Free Cash Flow for PGR in the course of the last twelve months was 11.59.
PGR Stock Performance Analysis:
Progressive Corp. [PGR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.83. With this latest performance, PGR shares gained by 8.05% in over the last four-week period, additionally plugging by 44.71% over the last 6 months – not to mention a rise of 47.24% 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 77.43, with the RSI for the last a single of trading hit 78.58, and the three-weeks RSI is set at 76.10 for Progressive Corp. [PGR]. The present Moving Average for the last 50 days of trading for this stock 186.13, while it was recorded at 205.61 for the last single week of trading, and 153.97 for the last 200 days.
Insight into Progressive Corp. Fundamentals:
Progressive Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.81.
PGR Stock EPS
With the latest financial reports released by the company, Progressive Corp. posted 0.65/share EPS, while the average EPS was predicted by analysts to be reported at 1.37/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -52.60%. 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 Progressive Corp. go to 26.00%.
Progressive Corp. [PGR] Institutonal Ownership Details
The top three institutional holders of PGR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PGR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PGR stock with ownership which is approximately 5.8325%.
