Progressive Corp. (PGR) concluded trading on Thursday at a closing price of $203.18, with 2.45 million shares of worth about $498.08 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 26.12% during that period and on May 23, 2024 the price saw a loss of about -1.53%. Currently the company’s common shares owned by public are about 585.30M shares, out of which, 584.00M shares are available for trading.
Stock saw a price change of -1.85% in past 5 days and over the past one month there was a price change of -4.25%. Year-to-date (YTD), PGR shares are showing a performance of 28.13% which increased to 53.04% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $110.92 but also hit the highest price of $217.77 during that period. The average intraday trading volume for Progressive Corp. shares is 2.76 million. The stock is currently trading -3.55% below its 20-day simple moving average (SMA20), while that difference is down -2.68% for SMA50 and it goes to 18.74% higher than SMA200.
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Progressive Corp. (NYSE: PGR) currently have 585.30M outstanding shares and institutions hold larger chunk of about 86.61% of that.
The stock has a current market capitalization of $119.00B and its 3Y-monthly beta is at 0.34. PE ratio of stock for trailing 12 months is 20.80, while it has posted earnings per share of $9.77 in the same period. Its PEG reads 0.80 while making debt-to-equity ratio of 0.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PGR, volatility over the week remained 1.60% while standing at 1.86% over the month.
Stock’s fiscal year EPS is expected to rise by 85.32% while it is estimated to increase by 6.41% in next year. EPS is likely to grow at an annualized rate of 26.00% for next 5-years, compared to annual growth of 8.09% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on March 06, 2024 offering an Overweight rating for the stock and assigned a target price range of between $185 and $227 to it. Coverage by TD Cowen stated Progressive Corp. (PGR) stock as a Market perform in their note to investors on January 10, 2024, suggesting a price target of $174 for the stock. On December 28, 2023, HSBC Securities Initiated their recommendations, while on December 18, 2023, Wells Fargo Upgrade their ratings for the stock with a price target of $176. Stock get a Mkt perform rating from Raymond James on December 12, 2023.
