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Saturday, June 3, 2023

This Is Too Hot For The Progressive Corporation (NYSE: PGR), Let’s Take A Closer Look

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for The Progressive Corporation (PGR) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.59, or -0.43%, to $135.30. The The Progressive Corporation has recorded 41,327 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Progressive Announces Investor Relations Call.

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Stocks Info

As a NYSE listed company, PGR falls under the Financial sector while operating within the Insurance – Property & Casualty industry segment. At the end of the last regular session, the stock closed at $135.89 and fluctuated between $137.34 as its day high and $135.45 as its day low. The current market capitalization of The Progressive Corporation is $78.56B. A total of 1.77 million shares were traded on the day, compared to an average of 2.57M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, PGR has seen 3 BUY and 10 SELL insider trades, representing the acquisition of 38,093 and the disposition of 41,245 shares. Over the last 12 months, there were 37 BUYs and 56 SELLs from insiders. Insiders purchased 584,768 shares during that period but sold 457,235.

In the most recent transaction, Broz Steven sold 930 shares of PGR for 137.79 per share on Apr 21. After the transaction, the Chief Information Officer now owns 27,251 company shares. In a previous transaction on Apr 19, Bleser Philip sold 2,000 shares at 139.86 per share. PGR shares that Director owns now total 2,129.

Among the insiders who sold shares, Mascaro Daniel P disposed of 2,806 shares on Mar 24 at a per-share price of $136.96. This resulted in the Vice Pres, Secretary and CLO holding 33,276 shares of PGR after the transaction. In another insider transaction, Broz Steven sold 930 shares at $136.96 per share on Mar 24. Company shares held by the Chief Information Officer now total 28,181.


Investors prefer companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook. The Progressive Corporation pays an annual dividend of $0.40, resulting in a dividend yield of 0.29%, and it has a price to earnings (P/E) ratio of 97.97. PGR’s most recent ex-dividend date was 4/5/2023 when it declared a $0.10 quarterly dividend that was paid in cash on 4/14/2023. Previously, the company paid the dividend on 1/13/2023 with an ex-dividend date of 1/5/2023. The PGR stock dividend was $0.10 per share in cash.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for PGR in the last 3 months, the mean price target is $147.56 with high estimates of $188.00 and low estimates of $111.00. In terms of 52-week highs and lows, PGR has a high of $149.87 and a low of $106.95.

As of this writing, PGR has an earnings estimate of $1.31 per share for the current quarter. EPS was calculated based on a consensus of 15 estimates, with a high estimate of $1.67 per share and a lower estimate of $0.67. The company reported an EPS of $1.52 in the last quarter, which was 6.30% higher than expectations of $1.43.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. PGR’s latest balance sheet shows that the firm has $44.82B in Cash & Short Term Investments as of fiscal 2021. Its Book Value Per Share was $26.35, while its Total Shareholder’s Equity was $18.23B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 21 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PGR is Sell with a score of 3.69. A total of 7 analysts rated the stock as Buy while 1 rated it as Overweight while 10 rated it as Hold. Among the other participants, 1 thought the stock was Underweight and 2 thought it should be Sold.

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