What Will Happen to The Progressive Corporation (PGR) Next? The Stock Just Reaches 52-Week High

January 23, 2018 - By Jan Rainey

Investors sentiment decreased to 1.07 in 2017 Q3. Its down 0.12, from 1.19 in 2017Q2. It is negative, 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.
Weik Investment Services holds 2.63% of its portfolio in The Progressive Corporation (NYSE:PGR) for 114,080 shares. London Of Virginia accumulated 3.36 million shares. Pennsylvania Trust stated it has 0.01% of its portfolio in The Progressive Corporation (NYSE:PGR). Willingdon Wealth owns 5,650 shares. Fukoku Mutual Life has 0.05% invested in The Progressive Corporation (NYSE:PGR). Parnassus Invests Ca holds 0.17% or 850,000 shares in its portfolio. Bridgewater Assoc Lp holds 0.01% or 28,131 shares. Voya Invest Mngmt Limited Liability Corp reported 0.6% of its portfolio in The Progressive Corporation (NYSE:PGR). Livforsakringsbolaget Skandia Omsesidigt reported 0.05% in The Progressive Corporation (NYSE:PGR). Deutsche National Bank & Trust Ag has 3.91M shares for 0.13% of their portfolio. State Of Wisconsin Investment Board reported 0.07% stake. Sei Invs Commerce has 308,329 shares for 0.05% of their portfolio. Loeb Prns Corp invested in 0.84% or 57,000 shares. Highvista Strategies Ltd has invested 0.07% in The Progressive Corporation (NYSE:PGR). Lockheed Martin Invest Mngmt reported 0.05% of its portfolio in The Progressive Corporation (NYSE:PGR).

Since August 17, 2017, it had 0 insider purchases, and 5 sales for $4.92 million activity. Sauerland John P also sold $2.43M worth of The Progressive Corporation (NYSE:PGR) shares. The insider BASCH JEFFREY W sold 9,000 shares worth $434,070. The insider Charney M Jeffrey sold 6,000 shares worth $293,400. On Thursday, August 17 the insider Griffith Susan Patricia sold $1.70M.

The stock of The Progressive Corporation (NYSE:PGR) hit a new 52-week high and has $58.90 target or 3.00 % above today’s $57.18 share price. The 6 months bullish chart indicates low risk for the $33.26 billion company. The 1-year high was reported on Jan, 23 by Barchart.com. If the $58.90 price target is reached, the company will be worth $997.68M 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 decreased 1.79% or $1.04 during the last trading session, reaching $57.18. About 2.55 million shares traded. The Progressive Corporation (NYSE:PGR) has risen 26.23% since January 23, 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 $430.39M for 19.32 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 firm has “Hold” rating given on Tuesday, July 18 by FBR Capital. On Thursday, January 5 the stock rating was upgraded by Morgan Stanley to “Equal-Weight”. The rating was maintained by FBR Capital on Wednesday, May 10 with “Mkt Perform”. The stock of The Progressive Corporation (NYSE:PGR) has “Market Perform” rating given on Tuesday, January 19 by Bernstein. Deutsche Bank maintained the shares of PGR in report on Monday, September 19 with “Sell” rating. The stock of The Progressive Corporation (NYSE:PGR) earned “Hold” rating by FBR Capital on Tuesday, July 11. The firm has “Buy” rating by Keefe Bruyette & Woods given on Monday, December 4. The firm has “Buy” rating given on Wednesday, November 15 by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained it with “Buy” rating and $52.0 target in Monday, September 18 report. The firm has “Buy” rating by Keefe Bruyette & Woods given on Wednesday, August 16.

Another recent and important The Progressive Corporation (NYSE:PGR) news was published by Prnewswire.com which published an article titled: “This Morning’s Technical Outlook on Insurance Stocks — MGIC Investment …” on January 22, 2018.

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 $33.26 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 24.02 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.

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