Progressive Corp. (NYSE: PGR) closed the day trading at $202.26 down -1.89% from the previous closing price of $206.15. In other words, the price has decreased by -$3.89 from its previous closing price. On the day, 3892305 shares were traded. PGR stock price reached its highest trading level at $207.09 during the session, while it also had its lowest trading level at $202.09.
Ratios:
For a better understanding of PGR, let’s look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 0.35 whereas as Long-Term Debt/Eq ratio is at 0.35.
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, Morgan Stanley on March 06, 2024, Upgraded its rating to Overweight and sets its target price to $227 from $185 previously.
On January 10, 2024, TD Cowen started tracking the stock assigning a Market Perform rating and target price of $174.
On December 28, 2023, HSBC Securities started tracking the stock assigning a Hold rating and target price of $164.HSBC Securities initiated its Hold rating on December 28, 2023, with a $164 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 05 ’24 when Bailo Karen sold 8,464 shares for $189.49 per share. The transaction valued at 1,603,843 led to the insider holds 32,342 shares of the business.
Callahan Patrick K sold 29,675 shares of PGR for $5,645,966 on Feb 21 ’24. The Personal Lines President now owns 15,189 shares after completing the transaction at $190.26 per share. On Jan 17 ’24, another insider, Griffith Susan Patricia, who serves as the President and CEO of the company, sold 5,939 shares for $169.24 each. As a result, the insider received 1,005,116 and left with 465,737 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, PGR now has a Market Capitalization of 118.46B and an Enterprise Value of 125.76B. As of this moment, Progressive’s Price-to-Earnings (P/E) ratio for their current fiscal year is 30.74, and their Forward P/E ratio for the next fiscal year is 17.87. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.18. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.91 while its Price-to-Book (P/B) ratio in mrq is 5.98. Its current Enterprise Value per Revenue stands at 2.03.
Stock Price History:
Over the past 52 weeks, PGR has reached a high of $212.24, while it has fallen to a 52-week low of $110.92. The 50-Day Moving Average of the stock is 195.91, while the 200-Day Moving Average is calculated to be 159.36.
Shares Statistics:
Over the past 3-months, PGR traded about 2.58M shares per day on average, while over the past 10 days, PGR traded about 2.73M shares per day. A total of 585.30M shares are outstanding, with a floating share count of 583.98M. Insiders hold about 0.29% of the company’s shares, while institutions hold 87.00% stake in the company. Shares short for PGR as of Mar 28, 2024 were 4.39M with a Short Ratio of 1.70, compared to 4.2M on Feb 29, 2024. Therefore, it implies a Short% of Shares Outstanding of 0.75% and a Short% of Float of 0.75%.
Dividends & Splits
PGR’s forward annual dividend rate is 1.15, up from 1.15 a year ago. Against a Trailing Annual Dividend Yield of 0.56%, it implies a Forward Annual Dividend Yield of 0.57%. The stock’s 5-year Average Dividend Yield is 2.01. The current Payout Ratio is 17.48% for PGR, which recently paid a dividend on Apr 12, 2024 with an ex-dividend date of Apr 03, 2024. Stock splits for the company last occurred on Jan 27, 2014 when the company split stock in a 1:1 ratio.
Earnings Estimates
Current recommendations for the stock of the company come from 18 analysts. On average, analysts expect EPS of $3.17 for the current quarter, with a high estimate of $3.38 and a low estimate of $2.7, while EPS last year was $0.65. The consensus estimate for the next quarter is $2.24, with high estimates of $2.86 and low estimates of $1.83.
Analysts are recommending an EPS of between $12.2 and $8.9 for the fiscal current year, implying an average EPS of $10.13. EPS for the following year is $11.31, with 19 analysts recommending between $14.55 and $9.86.
Revenue Estimates
6 analysts predict $17.43B in revenue for the current quarter. It ranges from a high estimate of $18.54B to a low estimate of $16.62B. As of the current estimate, Progressive Corp.’s year-ago sales were $15.87B, an estimated increase of 9.80% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $16.94B, an increase of 13.10% over than the figure of $9.80% in the same quarter last year. There is a high estimate of $17.26B for the next quarter, whereas the lowest estimate is $16.54B.
A total of 9 analysts have provided revenue estimates for PGR’s current fiscal year. The highest revenue estimate was $73.98B, while the lowest revenue estimate was $68.78B, resulting in an average revenue estimate of $71B. In the same quarter a year ago, actual revenue was $61.55B, up 15.30% from the average estimate. Based on 10 analysts’ estimates, the company’s revenue will be $79.79B in the next fiscal year. The high estimate is $86.38B and the low estimate is $71.6B. The average revenue growth estimate for next year is up 12.40% from the average revenue estimate for this year.
