The Progressive Corporation [NYSE:PGR] is seeing significant action in the Financial space. PGR stock has price per sales of 1.41 and price per cash flow of 11.60. The company is also booking 7.45 earnings per share.
The tape is active for The Progressive Corporation [PGR] and the current price target sits at $98.60.
To add more color to this price target, PGR’s high over the last year is $115.00 and the low is $87.00. Over the last two 52 weeks, the company is trading 37.70%, while the S&P 500 is trading 1.11%.
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Holding a Market Cap of $57.35 billion, The Progressive Corporation has seen a trading range over the last year of $62.18-$99.90.
For the last five days, PGR is up from its last closing price. The average shares trading hands each day is 2.23M, with average 10-day volume coming in at 1.75 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for PGR. When we apply the Elder Force Index to The Progressive Corporation, we are seeing an Elder Force Indicator number of 906686.25.
The recent performance of the stock is another area that can tell traders how to proceed. PGR is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 18.05. Moreover, the company’s enterprise value has gone from $52.41B to $47.89B quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, PGR made a profit of 2.27 billion. The Progressive Corporation also saw quarter revenue growth year over year of 22.24%. In addition, the company has operating cash flow of $6.77 billion.
Looking at popular technical indicators, the company’s 5-day moving average is 98.00 compared to the 50-day moving average of 94.48. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. PGR currently holds a 9-day RSI of 74.31%, while 100-day RSI stands at 57.21%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. PGR’s 9-day MACD is 3.01 and the company’s 100-day MACD stands at 12.21.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 0.29% by insiders and 82.12% by institutions. Regarding institutional holdings, Vanguard Group, Inc. (The) owns 8.37%, while the second top holder, Blackrock Inc., currently owns 7.35%.
Over the last six months, insiders have sold 5,858 with the most recent transaction from Charney M Jeffrey, Chief Marketing Officer, with a sell at price 95.08 per share.
Overall, the recommended rating for PGR is Moderate Buy. Currently, the company has 17 analysts watching the stock, and the average quarterly earnings estimate is 1.73. Quarterly revenue estimates are averaging 10.92B with the high estimate reaching 11.02B and the low at 10.81B.
To review, the current 1-year target estimate is sitting at 98.00, while the current price 101.13. Based on this, we expect some pullback on the stock over time given our above analysis.