The Progressive Corporation (PGR) on Focus After Trading At 52-Week Highs

January 21, 2018 - By marketbeat

Investors sentiment decreased to 1.07 in Q3 2017. Its down 0.12, from 1.19 in 2017Q2. It dived, as 43 investors sold The Progressive Corporation shares while 189 reduced holdings. 63 funds opened positions while 185 raised stakes. 447.86 million shares or 0.41% less from 449.71 million shares in 2017Q2 were reported.
Edge Wealth Mgmt Limited Liability Company stated it has 0% of its portfolio in The Progressive Corporation (NYSE:PGR). Ubs Asset Mngmt Americas Inc has invested 0.09% in The Progressive Corporation (NYSE:PGR). Nuveen Asset Management Ltd Company stated it has 14,599 shares. Symphony Asset Ltd Liability Com has 119,950 shares. California State Teachers Retirement System has invested 0.11% in The Progressive Corporation (NYSE:PGR). Sector Pension Board holds 0.01% in The Progressive Corporation (NYSE:PGR) or 64,067 shares. California Public Employees Retirement System stated it has 0.11% of its portfolio in The Progressive Corporation (NYSE:PGR). Pensionfund Dsm Netherlands stated it has 80,000 shares. 66,923 are held by Franklin Resource. Wisconsin-based Mason Street Advsr Ltd Co has invested 0.1% in The Progressive Corporation (NYSE:PGR). Bristol John W And Inc invested 2.53% in The Progressive Corporation (NYSE:PGR). Clearbridge Invs Ltd Liability Corp holds 0.1% in The Progressive Corporation (NYSE:PGR) or 2.16M shares. Crestpoint Cap Limited Company holds 19,300 shares or 0.42% of its portfolio. Arizona State Retirement Sys accumulated 249,745 shares or 0.14% of the stock. Fdx Advisors has 50,123 shares for 0.07% of their portfolio.

Since August 17, 2017, it had 0 insider purchases, and 5 insider sales for $4.92 million activity. Sauerland John P sold $2.43M worth of stock. BASCH JEFFREY W sold $434,070 worth of stock. $293,400 worth of The Progressive Corporation (NYSE:PGR) was sold by Charney M Jeffrey. $60,913 worth of The Progressive Corporation (NYSE:PGR) shares were sold by Broz Steven.

The stock of The Progressive Corporation (NYSE:PGR) hit a new 52-week high and has $59.39 target or 3.00 % above today’s $57.66 share price. The 7 months bullish chart indicates low risk for the $33.54B company. The 1-year high was reported on Jan, 21 by Barchart.com. If the $59.39 price target is reached, the company will be worth $1.01B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.65% or $0.37 during the last trading session, reaching $57.66. About 3.85M shares traded or 36.90% up from the average. The Progressive Corporation (NYSE:PGR) has risen 26.23% since January 21, 2017 and is uptrending. It has outperformed by 9.53% the S&P500.

Analysts await The Progressive Corporation (NYSE:PGR) to report earnings on January, 24. They expect $0.74 EPS, up 19.35 % or $0.12 from last year’s $0.62 per share. PGR’s profit will be $430.38 million for 19.48 P/E if the $0.74 EPS becomes a reality. After $0.41 actual EPS reported by The Progressive Corporation for the previous quarter, Wall Street now forecasts 80.49 % EPS growth.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 18 analysts covering Progressive (NYSE:PGR), 8 have Buy rating, 2 Sell and 8 Hold. Therefore 44% are positive. Progressive had 52 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Keefe Bruyette & Woods on Wednesday, August 16. The firm earned “Hold” rating on Tuesday, July 18 by Wells Fargo. The stock of The Progressive Corporation (NYSE:PGR) earned “Underweight” rating by Barclays Capital on Friday, August 11. The stock has “Market Perform” rating by Bernstein on Tuesday, January 19. The stock of The Progressive Corporation (NYSE:PGR) has “Mkt Perform” rating given on Wednesday, May 10 by FBR Capital. Credit Suisse maintained it with “Underperform” rating and $42 target in Monday, September 18 report. On Monday, December 4 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”. The stock has “Underperform” rating by Credit Suisse on Friday, November 6. The stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Bank of America on Monday, March 20. The firm earned “Mkt Perform” rating on Friday, September 16 by Keefe Bruyette & Woods.

The Progressive Corporation, through its subsidiaries, provides personal and commercial property-casualty insurance, and other specialty property-casualty insurance and related services primarily in the United States. The company has market cap of $33.54 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 24.22 P/E ratio. This segmentÂ’s products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, mobile homes, watercraft, and snowmobiles.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter: