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Progressive (PGR) Stock Price, News & Analysis

$248.69
-0.85 (-0.34%)
(As of 09/6/2024 ET)
Today's Range
$248.05
â–Ľ
$252.03
50-Day Range
$209.43
â–Ľ
$253.91
52-Week Range
$134.34
â–Ľ
$254.83
Volume
2.43 million shs
Average Volume
2.53 million shs
Market Capitalization
$145.65 billion
P/E Ratio
25.45
Dividend Yield
0.16%
Price Target
$252.24

Progressive MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.74 Rating Score
Upside/​Downside
1.4% Upside
$252.24 Price Target
Short Interest
Healthy
0.79% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-1.33
Upright™ Environmental Score
News Sentiment
0.55mentions of Progressive in the last 14 days
Based on 31 Articles This Week
Insider Trading
Selling Shares
$33.50 M Sold Last Quarter
Proj. Earnings Growth
5.33%
From $12.20 to $12.85 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.63 out of 5 stars

Finance Sector

78th out of 871 stocks

Fire, Marine, & Casualty Insurance Industry

8th out of 53 stocks

PGR stock logo

About Progressive Stock (NYSE:PGR)

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, and pick-up trucks used by small businesses, as well as non-fleet taxis, black-car services, and airport taxis; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and long-haul operators; dump trucks used by light contractors and heavy constructions; log trucks and garbage trucks used by dirt, sand and gravel, logging, garbage/debris removal, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses. The Property segment writes residential property insurance for homeowners, other property owners, and renters, as well as offers manufactured homes, personal umbrella insurance, and primary and excess flood insurance. The company offers policy issuance and claims adjusting services; acts as an agent to homeowners, general liability, workers' compensation insurance, and other products; and reinsurance services. It sells its products through independent insurance agencies, as well as through mobile applications and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield Village, Ohio.

PGR Stock Price History

PGR Stock News Headlines

The solution to fast food’s wage hike crisis
Shake Shack will be closing six California locations in response to the recent $20/hour minimum wage increase, according to the NY Post. With a sky-high 150% turnover rate, the fast food industry is already grappling with labor issues before taking into account these wage hikes. The industry will need a projected 1 million new workers every year through 2032.
Progressive (NYSE:PGR) Coverage Initiated at Barclays
The solution to fast food’s wage hike crisis
Shake Shack will be closing six California locations in response to the recent $20/hour minimum wage increase, according to the NY Post. With a sky-high 150% turnover rate, the fast food industry is already grappling with labor issues before taking into account these wage hikes. The industry will need a projected 1 million new workers every year through 2032.
Smart Money Is Betting Big In PGR Options
Why Progressive Stock Slipped by Nearly 2% Today
Why Progessive Stock Slipped by Nearly 2% Today
Progressive (NYSE:PGR) PT Raised to $312.00 at Bank of America
Progressive (NYSE:PGR) PT Raised to $275.00
Progressive (NYSE:PGR) Sets New 52-Week High After Analyst Upgrade
See More Headlines
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Company Calendar

Ex-Dividend for 7/12 Dividend
7/03/2024
Dividend Payable
7/12/2024
Last Earnings
7/16/2024
Today
9/07/2024
Ex-Dividend for 10/11 Dividend
10/03/2024
Dividend Payable
10/11/2024
Next Earnings (Estimated)
10/11/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Fire, marine, & casualty insurance
Sub-Industry
Property & Casualty Insurance
CUSIP
74331510
Employees
61,400
Year Founded
1937

Price Target and Rating

Average Stock Price Target
$252.24
High Stock Price Target
$367.00
Low Stock Price Target
$165.00
Potential Upside/Downside
+1.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.74
Research Coverage
19 Analysts

Profitability

Net Income
$3.90 billion
Pretax Margin
12.85%

Debt

Sales & Book Value

Annual Sales
$62.11 billion
Cash Flow
$6.68 per share
Book Value
$33.81 per share

Miscellaneous

Free Float
583,707,000
Market Cap
$145.65 billion
Optionable
Optionable
Beta
0.35

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Should I Buy Progressive Stock? PGR Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in The Progressive Co.:

  • The stock price of The Progressive Co. is currently trading at $215.44, showing stability and potential for growth.
  • Recent analyst ratings have been positive, with a consensus rating of "Moderate Buy" and a target price of $222.94, indicating confidence in the company's performance.
  • Insider buying activity has been observed, indicating that those within the company have faith in its future prospects.
  • The company has a strong market cap of $126.18 billion, reflecting its position as a significant player in the industry.
  • Progressive has a diverse portfolio of insurance products, including auto, property, and liability, providing stability and revenue streams across different sectors.

Cons

Investors should be bearish about investing in The Progressive Co. for these reasons:

  • There is a potential risk associated with the insurance industry, such as regulatory changes, catastrophic events, and economic downturns impacting claims and profitability.
  • The company's price-to-earnings ratio of 22.05 may indicate that the stock is currently trading at a higher valuation compared to industry peers, potentially limiting short-term upside.
  • While insider buying is positive, recent insider selling activities could raise concerns about the company's future performance or outlook.
  • Competition in the insurance sector is intense, with other major players vying for market share, potentially impacting Progressive's growth trajectory.
  • The company's debt-to-equity ratio of 0.30 may suggest a moderate level of leverage, which could pose risks in times of economic instability or rising interest rates.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, August 13, 2024. Please send any questions or comments about these Progressive pros and cons to contact@marketbeat.com.

PGR Stock Analysis - Frequently Asked Questions

How have PGR shares performed this year?

Progressive's stock was trading at $159.28 at the beginning of the year. Since then, PGR shares have increased by 56.1% and is now trading at $248.69.
View the best growth stocks for 2024 here
.

How were Progressive's earnings last quarter?

The Progressive Co. (NYSE:PGR) posted its quarterly earnings results on Tuesday, July, 16th. The insurance provider reported $2.65 EPS for the quarter, beating the consensus estimate of $2.04 by $0.61. Progressive's revenue was up 21.6% compared to the same quarter last year.

What is Tricia Griffith's approval rating as Progressive's CEO?

985 employees have rated Progressive Chief Executive Officer Tricia Griffith on Glassdoor.com. Tricia Griffith has an approval rating of 93% among the company's employees. This puts Tricia Griffith in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Does Progressive have any subsidiaries?

The following companies are subsidiaries of Progressive: Protective Insurance, ARX Holding Corp., American Strategic Insurance Corp., 358 Ventures Inc., American Strategic Insurance Corp, Ark Royal Underwriters LLC, Artisan and Truckers Casualty Company, and others.

Who are Progressive's major shareholders?

Progressive's top institutional shareholders include Massachusetts Financial Services Co. MA (2.47%), Principal Financial Group Inc. (1.05%), Bank of New York Mellon Corp (0.91%) and Legal & General Group Plc (0.84%). Insiders that own company stock include Susan Patricia Griffith, John P Sauerland, John Jo Murphy, Jeffrey D Kelly, Andrew J Quigg, Karen Bailo, Steven Broz, Daniel P Mascaro, Jonathan S Bauer, Patrick K Callahan, Stuart B Burgdoerfer, Devin C Johnson, Barbara R Snyder, Mariann Wojtkun Marshall, Philip Bleser, Roger N Farah, Michael D Sieger and Dyke Kahina Van.
View institutional ownership trends
.

How do I buy shares of Progressive?

Shares of PGR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Progressive own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Progressive investors own include Cisco Systems (CSCO), Walt Disney (DIS), CVS Health (CVS), Intel (INTC), Home Depot (HD), AT&T (T) and UnitedHealth Group (UNH).

This page (NYSE:PGR) was last updated on 9/7/2024 by MarketBeat.com Staff

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