Last Updated: 18 Sep 2024
Executive Summary
Progressive Corp. (PGR) is a leading provider of car insurance in the United States. The company has a strong financial position with a market capitalization of $150.49 billion and an EBITDA of $9.29 billion. PGR's earnings per share (EPS) is $11.69, and its dividend yield is 0.0016%. The company's trailing price-to-earnings (PE) ratio is 21.98, and its forward PE ratio is 20.41. PGR's 52-week high is $260.46, and its 52-week low is $136.67. The current stock price is $256.91.
Company Overview
Progressive Corp. is an American insurance company that provides car, motorcycle, boat, RV, and commercial vehicle insurance. The company also provides home insurance through select companies. Progressive Corp. was founded in 1937 and is headquartered in Mayfield Village, Ohio. The company has a workforce of approximately 40,000 employees.
Fundamental Analysis
Progressive Corp. has a strong financial position. The company's revenue for the trailing twelve months (TTM) is $67.80 billion, and its gross profit for the TTM is $16.87 billion. PGR's operating margin for the TTM is 10.6%, and its net profit margin for the TTM is 10.2%. The company's return on assets (ROA) for the TTM is 6.22%, and its return on equity (ROE) for the TTM is 34.4%.
Technical Analysis
Progressive Corp.'s stock price has been in a downtrend since its 52-week high of $260.46 in April 2023. The stock price has been trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is below 50, indicating that the stock is oversold.
Short Term Outlook
The short-term outlook for Progressive Corp. is neutral. The stock price is trading below its moving averages, and the RSI is below 50. This indicates that the stock may continue to decline in the short term.
Long Term Outlook
The long-term outlook for Progressive Corp. is positive. The company has a strong financial position and a leading market share in the car insurance industry. PGR is well-positioned to benefit from the growing demand for insurance products.
Analyst Recommendations
Analysts have a consensus rating of "Buy" on Progressive Corp. The average analyst target price is $261.25, which represents a potential upside of 1.64% from the current stock price.
