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The Progressive Corporation (PGR) – Don’t Be So Quick to Call it Dead

The Progressive Corporation (NYSE: PGR) is 10.15% higher on its value in year-to-date trading and has touched a low of $104.01 and a high of $146.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PGR stock was last observed hovering at around $135.06 in the last trading session, with the day’s gains setting it 7.81% off its average median price target of $148.00 for the next 12 months. It is also 18.82% off the consensus price target high of $176.00 offered by 21 analysts, but current levels are -28.71% lower than the price target low of $111.00 for the same period.

Currently trading at $142.87, the stock is 0.47% and 4.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.79 million and changing 5.78% at the moment leaves the stock 13.36% off its SMA200. PGR registered 33.14% gain for a year compared to 6-month gain of 11.58%.

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The stock witnessed a 2.58% loss in the last 1 month and extending the period to 3 months gives it a 11.37%, and is 0.57% 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 3.26% over the week and 1.96% over the month.

The Progressive Corporation (PGR) has around 55100 employees, a market worth around $84.47B and $49.59B in sales. Current P/E ratio is 123.16 and Fwd P/E is 18.22. Profit margin for the company is 1.40%. Distance from 52-week low is 37.36% and -2.48% from its 52-week high. The company has generated returns on investments over the last 12 months (4.40%).

The Progressive Corporation (PGR) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The Progressive Corporation (PGR) is a “Overweight”. 21 analysts offering their recommendations for the stock have an average rating of 2.70, where 10 rate it as a Hold and 1 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

The EPS is expected to shrink by -79.10% this year

The Progressive Corporation (PGR) Top Institutional Holders

The shares outstanding are 584.40M, and float is at 582.96M with Short Float at 0.57%.

The Progressive Corporation (PGR) Insider Activity

A total of 51 insider transactions have happened at The Progressive Corporation (PGR) in the last six months, with sales accounting for 35 and purchases happening 16 times. The most recent transaction is an insider sale by Mascaro Daniel P, the company’s Vice Pres, Secretary and CLO. SEC filings show that Mascaro Daniel P sold 2,806 shares of the company’s common stock on Feb 24 at a price of $141.64 per share for a total of $0.4 million. Following the sale, the insider now owns 36082.0 shares.

The Progressive Corporation disclosed in a document filed with the SEC on Feb 24 that Broz Steven (Chief Information Officer) sold a total of 930 shares of the company’s common stock. The trade occurred on Feb 24 and was made at $141.64 per share for $0.13 million. Following the transaction, the insider now directly holds 29111.0 shares of the PGR stock.

Still, SEC filings show that on Feb 22, Griffith Susan Patricia (President and CEO) disposed off 15,473 shares at an average price of $142.64 for $2.21 million. The insider now directly holds 431,811 shares of The Progressive Corporation (PGR).

The Progressive Corporation (PGR): Who are the competitors?

The company’s main competitors (and peers) include Chubb Limited (CB) that is trading -7.52% down over the past 12 months and American International Group Inc. (AIG) that is -14.28% lower over the same period. Arthur J. Gallagher & Co. (AJG) is 15.79% up on the 1-year trading charts.

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