What’s Next for The Progressive Corporation (PGR) After Touching All Time High?

March 14, 2018 - By Marry Poplack

Investors sentiment decreased to 1.07 in Q3 2017. Its down 0.12, from 1.19 in 2017Q2. It worsened, 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.
Daiwa Securities Group Inc Inc has invested 0.01% in The Progressive Corporation (NYSE:PGR). Shine Inv Advisory Svcs accumulated 943 shares or 0.02% of the stock. Ameriprise Financial Inc invested in 880,067 shares. Riverhead Capital Limited Co holds 0.06% of its portfolio in The Progressive Corporation (NYSE:PGR) for 25,171 shares. Td Asset Mngmt has invested 0.06% in The Progressive Corporation (NYSE:PGR). State Treasurer State Of Michigan invested 0.07% in The Progressive Corporation (NYSE:PGR). Gamble Jones Counsel owns 17,275 shares. Alyeska Inv Gru Limited Partnership holds 0.55% or 1.41 million shares in its portfolio. Prospector Ptnrs Lc has invested 1.07% in The Progressive Corporation (NYSE:PGR). Cwm Ltd Liability Corporation reported 1,118 shares. 151,450 were accumulated by Cookson Peirce And. Lazard Asset Mngmt Limited Co holds 0% of its portfolio in The Progressive Corporation (NYSE:PGR) for 1,695 shares. Kentucky Retirement Systems, Kentucky-based fund reported 35,668 shares. Speece Thorson Capital Gru accumulated 160,668 shares or 1.62% of the stock. Arrowstreet Ltd Partnership reported 0.34% in The Progressive Corporation (NYSE:PGR).

Since October 18, 2017, it had 0 buys, and 2 selling transactions for $727,470 activity. On Friday, October 20 the insider Charney M Jeffrey sold $293,400.

The stock of The Progressive Corporation (NYSE:PGR) reached all time high today, Mar, 14 and still has $66.82 target or 9.00 % above today’s $61.30 share price. This indicates more upside for the $35.69 billion company. This technical setup was reported by Barchart.com. If the $66.82 PT is reached, the company will be worth $3.21 billion 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 2.15% or $1.29 during the last trading session, reaching $61.3. About 1.67 million shares traded. The Progressive Corporation (NYSE:PGR) has risen 26.23% since March 14, 2017 and is uptrending. It has outperformed by 9.53% the S&P500.

Analysts await The Progressive Corporation (NYSE:PGR) to report earnings on April, 17. They expect $1.04 earnings per share, up 55.22 % or $0.37 from last year’s $0.67 per share. PGR’s profit will be $605.58 million for 14.74 P/E if the $1.04 EPS becomes a reality. After $0.79 actual earnings per share reported by The Progressive Corporation for the previous quarter, Wall Street now forecasts 31.65 % EPS growth.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

Among 19 analysts covering Progressive (NYSE:PGR), 9 have Buy rating, 2 Sell and 8 Hold. Therefore 47% are positive. Progressive had 59 analyst reports since August 6, 2015 according to SRatingsIntel. The stock has “Buy” rating by Sandler O’Neill on Thursday, March 1. The stock of The Progressive Corporation (NYSE:PGR) has “Neutral” rating given on Friday, October 14 by Citigroup. The stock of The Progressive Corporation (NYSE:PGR) earned “Underweight” rating by Barclays Capital on Monday, October 16. The stock of The Progressive Corporation (NYSE:PGR) earned “Hold” rating by Wells Fargo on Tuesday, July 18. Wells Fargo maintained The Progressive Corporation (NYSE:PGR) on Wednesday, June 14 with “Hold” rating. Citigroup maintained it with “Neutral” rating and $51 target in Wednesday, October 18 report. The firm has “Hold” rating by Sandler O’Neill given on Thursday, December 17. FBR Capital maintained The Progressive Corporation (NYSE:PGR) on Wednesday, May 10 with “Mkt Perform” rating. The rating was maintained by Keefe Bruyette & Woods on Tuesday, June 20 with “Buy”. On Monday, December 4 the stock rating was maintained by Keefe Bruyette & Woods with “Buy”.

More notable recent The Progressive Corporation (NYSE:PGR) news were published by: Nasdaq.com which released: “Progressive Reports February 2018 Results” on March 14, 2018, also Streetinsider.com with their article: “Form 424B5 PROGRESSIVE CORP/OH/” published on March 09, 2018, Zacks.com published: “Progressive Corp (PGR) Up 2% Since Earnings Report: Can It Continue?” on February 23, 2018. More interesting news about The Progressive Corporation (NYSE:PGR) were released by: Streetinsider.com and their article: “Form 8-K PROGRESSIVE CORP/OH/ For: Mar 14” published on March 14, 2018 as well as Bizjournals.com‘s news article titled: “Progressive CEO joins FedEx board” with publication date: March 12, 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 $35.69 billion. The Company’s Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. It has a 22.54 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 FREE 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: