The Progressive Corporation (NYSE: PGR) is -4.90% lower on its value in year-to-date trading and has touched a low of $59.35 and a high of $97.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PGR stock was last observed hovering at around $87.79 in the last trading session, with the day’s gains setting it 1.96% off its average median price target of $96.50 for the next 12 months. It is also 28.77% off the consensus price target high of $126.00 offered by 19 analysts, but current levels are -5.59% lower than the price target low of $85.00 for the same period.
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Currently trading at $89.75, the stock is 2.73% and -1.25% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.79 million and changing 2.23% at the moment leaves the stock 4.67% off its SMA200. PGR registered 16.13% gain for a year compared to 6-month gain of 2.41%. The firm has a 50-day simple moving average (SMA 50) of $90.63 and a 200-day simple moving average (SMA200) of $93.12.
The stock witnessed a -2.77% loss in the last 1 month and extending the period to 3 months gives it a -0.25%, and is 5.43% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.24% over the week and 2.35% over the month.
The Progressive Corporation (PGR) has around 41571 employees, a market worth around $53.18B and $42.64B in sales. Current P/E ratio is 9.29 and Fwd P/E is 15.42. Profit margin for the company is 10.30%. Distance from 52-week low is 51.23% and -7.86% from its 52-week high. The company has generated returns on investments over the last 12 months (23.70%).
The Progressive Corporation (PGR) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for The Progressive Corporation (PGR) is a “Hold”. 19 analysts offering their recommendations for the stock have an average rating of 2.60, where 8 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.
The Progressive Corporation is expected to release its quarterly report on 04/20/2021 and quarterly earnings per share for the current quarter are estimated at $1.79 with sales reaching $11.07B over the same period.The EPS is expected to grow by 51.90% this year, but quarterly earnings will post 10.30% year-over-year. Quarterly sales are estimated to grow 12.10% in year-over-year returns.
The Progressive Corporation (PGR) Top Institutional Holders
1,361 institutions hold shares in The Progressive Corporation (PGR), with 1.76M shares held by insiders accounting for 0.30% while institutional investors hold 84.54% of the company’s shares. The shares outstanding are 585.10M, and float is at 583.88M with Short Float at 0.90%. Institutions hold 84.29% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 48.26 million shares valued at $4.77 billion. The investor’s holdings represent 8.24% of the PGR Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 44.19 million shares valued at $4.37 billion to account for 7.55% of the shares outstanding. The other top investors are Wellington Management Company, LLP which holds 34.01 million shares representing 5.81% and valued at over $3.36 billion, while State Street Corporation holds 4.33% of the shares totaling 25.36 million with a market value of $2.51 billion.
The Progressive Corporation (PGR) Insider Activity
A total of 61 insider transactions have happened at The Progressive Corporation (PGR) in the last six months, with sales accounting for 45 and purchases happening 16 times. The most recent transaction is an insider sale by Broz Steven, the company’s Chief Information Officer. SEC filings show that Broz Steven sold 1,243 shares of the company’s common stock on Feb 04 at a price of $86.95 per share for a total of $0.11 million. Following the sale, the insider now owns 35050.0 shares.
The Progressive Corporation disclosed in a document filed with the SEC on Feb 03 that Mascaro Daniel P (Vice Pres, Secretary and CLO) sold a total of 2,351 shares of the company’s common stock. The trade occurred on Feb 03 and was made at $86.17 per share for $0.2 million. Following the transaction, the insider now directly holds 37314.0 shares of the PGR stock.
Still, SEC filings show that on Jan 05, Sieger Michael D (Claims President) disposed off 3,379 shares at an average price of $97.44 for $0.33 million. The insider now directly holds 46,431 shares of The Progressive Corporation (PGR).
The Progressive Corporation (PGR): Who are the competitors?
The company’s main competitors (and peers) include Mercury General Corporation (MCY) that is trading 21.01% up over the past 12 months. The Travelers Companies Inc. (TRV) is 11.34% up on the 1-year trading charts. Short interest in the company’s stock has risen 12.62% from the last report on Dec 30, 2020 to stand at a total of 4.57 million short shares sold with a short interest ratio of 1.98.