Could The Progressive Corporation (PGR) Skyrocket Even More? The Stock Just Made All-Time High

December 7, 2017 - By Marguerite Chambers

Investors sentiment is 1.19 in Q2 2017. Its the same as in 2017Q1. It is flat, as 32 investors sold The Progressive Corporation shares while 188 reduced holdings. only 76 funds opened positions while 185 raised stakes. 449.71 million shares or 0.33% less from 451.19 million shares in 2017Q1 were reported.
Renaissance Gru Limited Liability Corp stated it has 0.01% of its portfolio in The Progressive Corporation (NYSE:PGR). Pacad holds 0.11% or 17,300 shares in its portfolio. 361 are held by Ltd Ltd. Cleararc Capital Inc holds 14,258 shares. Robeco Institutional Asset Bv reported 0.17% of its portfolio in The Progressive Corporation (NYSE:PGR). State Street accumulated 26.14M shares. Tower Ltd Liability Co (Trc) accumulated 1,658 shares. Bluefin Trading Limited Liability Corporation reported 23,500 shares. Metropolitan Life Insur New York holds 0.09% or 307,371 shares. Chevy Chase Tru Incorporated reported 505,493 shares. Wealthtrust Fairport Lc reported 35,258 shares or 0.17% of all its holdings. Trexquant Inv L P owns 0.14% invested in The Progressive Corporation (NYSE:PGR) for 11,600 shares. Texas Permanent School Fund holds 163,216 shares or 0.09% of its portfolio. Reliance Of Delaware owns 0.08% invested in The Progressive Corporation (NYSE:PGR) for 12,535 shares. Pekin Singer Strauss Asset Mgmt Il reported 0.06% stake.

Since June 16, 2017, it had 0 insider purchases, and 2 sales for $2.46 million activity. CODY WILLIAM M also sold $2.23M worth of The Progressive Corporation (NYSE:PGR) on Friday, June 16.

The stock of The Progressive Corporation (NYSE:PGR) reached all time high today, Dec, 7 and still has $56.28 target or 3.00 % above today’s $54.64 share price. This indicates more upside for the $31.78 billion company. This technical setup was reported by Barchart.com. If the $56.28 PT is reached, the company will be worth $953.37M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events.

The stock increased 0.09% or $0.05 during the last trading session, reaching $54.64. About 904,835 shares traded. The Progressive Corporation (NYSE:PGR) has risen 26.23% since December 7, 2016 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 $0.68 EPS, up 9.68 % or $0.06 from last year’s $0.62 per share. PGR’s profit will be $395.49 million for 20.09 P/E if the $0.68 EPS becomes a reality. After $0.41 actual EPS reported by The Progressive Corporation for the previous quarter, Wall Street now forecasts 65.85 % EPS growth.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 18 analysts covering Progressive (NYSE:PGR), 8 have Buy rating, 3 Sell and 7 Hold. Therefore 44% are positive. Progressive had 51 analyst reports since August 6, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Sunday, July 23 by Keefe Bruyette & Woods. The rating was upgraded by Deutsche Bank to “Hold” on Thursday, May 18. The firm has “Market Perform” rating by Bernstein given on Tuesday, January 19. Wells Fargo maintained the shares of PGR in report on Friday, May 5 with “Hold” rating. Wells Fargo maintained the stock with “Hold” rating in Wednesday, August 16 report. On Tuesday, July 18 the stock rating was maintained by Wells Fargo with “Hold”. FBR Capital maintained The Progressive Corporation (NYSE:PGR) on Wednesday, May 10 with “Mkt Perform” rating. The company was maintained on Tuesday, July 18 by FBR Capital. The stock has “Underweight” rating by Barclays Capital on Monday, October 16. Citigroup downgraded the stock to “Sell” rating in Thursday, June 2 report.

More notable recent The Progressive Corporation (NYSE:PGR) news were published by: Crainscleveland.com which released: “Progressive Corp. CEO Tricia Griffith is thinking big” on November 30, 2017, also Nasdaq.com with their article: “WealthTrust Fairport, LLC Buys Progressive Corp, iShares Floating Rate Bond …” published on November 17, 2017, Cleveland.com published: “Cleveland Institute of Art dives into rich complexity of contemporary art from …” on November 26, 2017. More interesting news about The Progressive Corporation (NYSE:PGR) were released by: Streetinsider.com and their article: “Progressive Corp. (PGR) PT Raised to $60 at MKM Partners; ‘Momentum Continues …” published on November 16, 2017 as well as Gurufocus.com‘s news article titled: “Summit Global Investments Buys Progressive Corp, Wal-Mart Stores Inc, The Home …” with publication date: November 15, 2017.

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 $31.78 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 23.25 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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