PGR (The Progressive Corporation) stock is in for a key growth catalyst

As of close of business last night, The Progressive Corporation’s stock clocked out at $129.81, up 1.13% from its previous closing price of $128.36. In other words, the price has increased by $+1.45 from its previous closing price. On the day, 1507035 shares were traded. PGR stock price reached its highest trading level at $130.14 during the session, while it also had its lowest trading level at $127.78.

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To gain a deeper understanding of PGR’s stock, we examine its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 215.88 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 15.27. In the meantime, Its Debt-to-Equity ratio is 0.45 whereas as Long-Term Debt/Eq ratio is at 0.45.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Jefferies on October 07, 2022, Upgraded its rating to Buy and sets its target price to $142 from $123 previously.

On June 24, 2022, Keefe Bruyette Upgraded its rating to Mkt Perform which previously was Underperform and also upped its target price recommendation from $96 to $107.

On May 24, 2022, Citigroup started tracking the stock assigning a Sell rating and target price of $93.Citigroup initiated its Sell rating on May 24, 2022, with a $93 target price.

Insider Transactions:

Investing in insider trades can also provide an investor with insight into how management views future stock prices. A recent insider transaction in this stock occurred on Nov 03 when Sauerland John P sold 25,000 shares for $127.18 per share. The transaction valued at 3,179,500 led to the insider holds 329,033 shares of the business.

Mascaro Daniel P sold 3,930 shares of PGR for $467,198 on Oct 20. The Vice Pres, Secretary and CLO now owns 46,748 shares after completing the transaction at $118.88 per share. On Oct 20, another insider, Broz Steven, who serves as the Chief Information Officer of the company, sold 5,170 shares for $118.88 each. As a result, the insider received 614,610 and left with 36,663 shares of the company.

Valuation Measures:

As of this moment, The’s Price-to-Earnings (P/E) ratio for their current fiscal year is 91.93, and their Forward P/E ratio for the next fiscal year is 20.69. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 3.35. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.56 while its Price-to-Book (P/B) ratio in mrq is 5.31.

Stock Price History:

Over the past 52 weeks, PGR has reached a high of $131.00, while it has fallen to a 52-week low of $88.35. The 50-Day Moving Average of the stock is 123.90, while the 200-Day Moving Average is calculated to be 116.55.

Shares Statistics:

It appears that PGR traded 2.55M shares on average per day over the past three months and 3.04M shares per day over the past ten days. A total of 584.50M shares are outstanding, with a floating share count of 582.96M. Insiders hold about 0.20% of the company’s shares, while institutions hold 86.80% stake in the company. Shares short for PGR as of Oct 13, 2022 were 4.3M with a Short Ratio of 3.97M, compared to 4.4M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.74% and a Short% of Float of 0.74%.

Dividends & Splits

With its trailing 12-month dividend rate of 4.90, PGR has a forward annual dividend rate of 0.40. Against a Trailing Annual Dividend Yield of 3.82%, it implies a Forward Annual Dividend Yield of 0.32%. The stock’s 5-year Average Dividend Yield is 2.46. The current Payout Ratio is 28.10% for PGR, which recently paid a dividend on Oct 13, 2022 with an ex-dividend date of Oct 05, 2022. Stock splits for the company last occurred on Jan 26, 2014 when the company split stock in a 1:1 ratio.

Earnings Estimates

As of right now, 17 analysts gave their recommendation on the stock of the company. On average, analysts expect EPS of $1.46 for the current quarter, with a high estimate of $1.88 and a low estimate of $1.13, while EPS last year was $0.9. The consensus estimate for the next quarter is $1.62, with high estimates of $1.93 and low estimates of $1.29.

Analysts are recommending an EPS of between $5.73 and $3.75 for the fiscal current year, implying an average EPS of $4.18. EPS for the following year is $6.25, with 20 analysts recommending between $7.55 and $4.12.

Revenue Estimates

In the current quarter, 5 analysts expect revenue to total $11.8B. It ranges from a high estimate of $12.05B to a low estimate of $11.38B. As of the current estimate, The Progressive Corporation’s year-ago sales were $10.75B, an estimated increase of 9.70% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $14.45B, an increase of 9.70% over than the figure of $9.70% in the same quarter last year. There is a high estimate of $14.8B for the next quarter, whereas the lowest estimate is $13.87B.

A total of 7 analysts have provided revenue estimates for PGR’s current fiscal year. The highest revenue estimate was $50.92B, while the lowest revenue estimate was $50B, resulting in an average revenue estimate of $50.54B. In the same quarter a year ago, actual revenue was $46.41B, up 8.90% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $56.09B in the next fiscal year. The high estimate is $57.97B and the low estimate is $53.94B. The average revenue growth estimate for next year is up 11.00% from the average revenue estimate for this year.