Progressive Corp. (NYSE: PGR) is 29.16% higher on its value in year-to-date trading and has touched a low of $110.92 and a high of $212.24 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 $210.39 in the last trading session, with the day’s loss setting it -5.58%.
Currently trading at $204.81, the stock is -0.48% and 5.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.66 million and changing -2.65% at the moment leaves the stock 29.78% off its SMA200. PGR registered 39.67% gain for a year compared to 6-month gain of 44.00%. The firm has a 50-day simple moving average (SMA 50) of $2.05.
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The stock witnessed a 3.23% loss in the last 1 month and extending the period to 3 months gives it a 24.40%, and is -2.49% down 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 1.73% over the week and 1.55% over the month.
Progressive Corp. (PGR) has around 61432 employees, a market worth around $119.95B and $62.08B in sales. Current P/E ratio is 31.13 and Fwd P/E is 18.16. Profit margin for the company is 6.23%. Distance from 52-week low is 84.65% and -3.50% from its 52-week high. The company has generated returns on investments over the last 12 months (14.13%).
Progressive Corp. quarterly earnings per share for the current quarter are estimated at $3.16 with sales reaching $17.65B over the same period.The EPS is expected to grow by 64.47% this year, but quarterly earnings will post 15.50% year-over-year. Quarterly sales are estimated to grow 11.20% in year-over-year returns.
Progressive Corp. (PGR) Top Institutional Holders
1,810 institutions hold shares in Progressive Corp. (PGR), with institutional investors hold 87.64% of the company’s shares. The shares outstanding are 585.30M, and float is at 583.98M with Short Float at 0.79%. Institutions hold 87.41% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 51.14 million shares valued at $6.77 billion. The investor’s holdings represent 8.74% of the PGR Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 43.92 million shares valued at $5.81 billion to account for 7.50% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 27.76 million shares representing 4.74% and valued at over $3.67 billion, while State Street Corporation holds 4.26% of the shares totaling 24.96 million with a market value of $3.3 billion.
Progressive Corp. (PGR) Insider Activity
The most recent transaction is an insider sale by Bailo Karen,the company’sCommercial Lines President. SEC filings show that Bailo Karen sold 8,464 shares of the company’s common stock on Mar 05 ’24 at a price of $189.49 per share for a total of $1.6 million. Following the sale, the insider now owns 32342.0 shares.
Progressive Corp. disclosed in a document filed with the SEC on Feb 21 ’24 that Callahan Patrick K (Personal Lines President) sold a total of 29,675 shares of the company’s common stock. The trade occurred on Feb 21 ’24 and was made at $190.26 per share for $5.65 million. Following the transaction, the insider now directly holds 15189.0 shares of the PGR stock.
Still, SEC filings show that on Jan 17 ’24, Griffith Susan Patricia (President and CEO) disposed off 5,939 shares at an average price of $169.24 for $1.01 million. The insider now directly holds 465,737 shares of Progressive Corp. (PGR).
