The Progressive Corporation (NYSE:PGR) shares traded higher over the last trading session, gaining 2.48% on 06/21/21. The shares fell to a low of $92.70 before closing at $94.60. Intraday shares traded counted 4.72 million, which was -64.46% lower than its 30-day average trading volume of 2.87M. PGR’s previous close was $92.31 while the outstanding shares total 584.90M. The firm stock’s Relative Strength Index (RSI) is 41.98, with weekly volatility at 2.34% and ATR at 2.11. The PGR stock’s 52-week price range has touched low of $72.69 and a $107.58 high.
Investors have identified the Insurance – Property & Casualty company The Progressive Corporation as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $55.07 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
The Progressive Corporation (PGR) Fundamentals that are to be considered.
PGR were able to record 2.56 billion as free cash flow during the 07/15/2021 quarter of the year, this saw their quarterly net cash flow reduce by 46.7 million. In cash movements, the company had a total of 2.61 billion as operating cash flow.
Potential earnings growth for The Progressive Corporation (PGR)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 07/15/2021 quarter of the year, The Progressive Corporation recorded a total of 11.45 billion in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 18.54% coming in sequential stages and their sales for the 07/15/2021 quarter increasing by 0.26%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 9.47 billion trying to sell their products during the last quarter, with the result yielding a gross income of 1.87 billion. This allows shareholders to hold on to 584.90M with the recently reported earning now reading 2.52 cents per share. This is a figure that compared to analyst’s prediction for their 07/15/2021 (1.72 cents a share).
Having a look at the company’s valuation, the company is expected to record 5.85 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on PGR sounds very interesting.
Is the stock of PGR attractive?
In related news, President and CEO, Griffith Susan Patricia sold 45,000 shares of the company’s stock in a transaction that recorded on Jun 17. The sale was performed at an average price of 91.78, for a total value of 4,129,906. As the sale deal closes, the VP and Chief Financial Officer, Sauerland John P now sold 12,000 shares of the company’s stock, valued at 1,114,320. Also, President and CEO, Griffith Susan Patricia sold 40,578 shares of the company’s stock in a deal that was recorded on May 20. The shares were price at an average price of 99.17 per share, with a total market value of 4,024,120. Following this completion of acquisition, the VP and Chief Financial Officer, Sauerland John P now holds 12,000 shares of the company’s stock, valued at 1,190,040. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.30%.
5 out of 17 analysts covering the stock have rated it a Buy, while 7 have maintained a Hold recommendation on The Progressive Corporation. 3 analysts has assigned a Sell rating on the PGR stock. The 12-month mean consensus price target for the company’s shares has been set at $102.42.