The Progressive Corporation (PGR) Stock Is An 52-Week High Flier

January 21, 2018 - By Ellis Scott

Investors sentiment decreased to 1.07 in 2017 Q3. Its down 0.12, from 1.19 in 2017Q2. It fall, 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.
Bp Public Ltd Liability Company holds 0.11% or 67,000 shares in its portfolio. Huntington State Bank has 0.01% invested in The Progressive Corporation (NYSE:PGR). Sg Americas Ltd holds 0.01% or 14,709 shares in its portfolio. Commonwealth Commercial Bank Of Aus holds 0.03% or 70,661 shares in its portfolio. First Interstate National Bank & Trust accumulated 1,775 shares or 0.02% of the stock. Qs Invsts Ltd Limited Liability Company, a New York-based fund reported 6,651 shares. 1.13 million are owned by Ariel Ltd Liability Company. Usca Ria Ltd Liability Corporation holds 0.39% or 67,787 shares in its portfolio. Moreover, Blair William Il has 0.47% invested in The Progressive Corporation (NYSE:PGR) for 1.30 million shares. Us Commercial Bank De has invested 0.01% in The Progressive Corporation (NYSE:PGR). Pensionfund Dsm Netherlands holds 0.58% or 80,000 shares. Lateef Invest Mgmt L P holds 827,453 shares. Kbc Group Nv holds 68,409 shares. Utd Automobile Association invested in 0.14% or 960,536 shares. Highbridge Capital Mngmt Lc reported 0.07% in The Progressive Corporation (NYSE:PGR).

Since August 17, 2017, it had 0 buys, and 5 sales for $4.92 million activity. $434,070 worth of The Progressive Corporation (NYSE:PGR) shares were sold by BASCH JEFFREY W. The insider Charney M Jeffrey sold 6,000 shares worth $293,400. $1.70 million worth of stock was sold by Griffith Susan Patricia on Thursday, August 17. Sauerland John P sold 50,000 shares worth $2.43 million.

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 3.85 million 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 $430.38M 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 firm earned “Mkt Perform” rating on Wednesday, May 10 by FBR Capital. On Thursday, August 3 the stock rating was maintained by Wells Fargo with “Hold”. Goldman Sachs upgraded the shares of PGR in report on Tuesday, January 10 to “Neutral” rating. The company was maintained on Thursday, March 17 by Goldman Sachs. The stock of The Progressive Corporation (NYSE:PGR) earned “Hold” rating by Wells Fargo on Friday, May 5. The firm has “Neutral” rating by Citigroup given on Thursday, July 13. Goldman Sachs downgraded it to “Sell” rating and $28 target in Monday, November 16 report. The stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Keefe Bruyette & Woods on Wednesday, November 15. The stock has “Hold” rating by Wells Fargo on Wednesday, April 19. The stock has “Neutral” rating by Citigroup on Friday, October 14.

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.

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