Stocks of Progressive Corp. (NYSE:PGR) traded higher last session on Wall Street, up 1.44% to $224.53.
PGR stock price is now 6.90% away from the 50-day moving average and 21.37% away from the 200-day moving average. The market capitalization of the company currently stands at $131.51B.
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With the price target enhanced from $210 to $245, Keefe Bruyette Upgraded its rating from Mkt Perform to Outperform for Progressive Corp. (NYSE: PGR). On March 06, 2024, Morgan Stanley Upgraded its previous ‘Equal-Weight’ rating to ‘Overweight’ on the stock increasing its target price from $185 to quote $227, while ‘TD Cowen’ rates the stock as ‘Market Perform’
In other news, Sauerland John P, VP and Chief Financial Officer sold 10,000 shares of the company’s stock on Jun 28 ’24. The stock was sold for $2,104,000 at an average price of $210.40. Upon completion of the transaction, the VP and Chief Financial Officer now directly owns 302,958 shares in the company, valued at $68.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 24 ’24, Chief Information Officer Broz Steven sold 3,050 shares of the business’s stock. A total of $639,920 was realized by selling the stock at an average price of $209.81. This leaves the insider owning 32,453 shares of the company worth $7.29 million. A total of 0.28% of the company’s stock is owned by insiders.
During the past 12 months, Progressive Corp. has had a low of $117.12 and a high of $223.84. According to the stock market information, the enterprise value for the company is $137664528384, which is based on a 19.21 price-to-earnings ratio, a 0.48 price-to-earnings-growth ratio, and a beta of 0.35. The fifty day moving average price for PGR is $209.809 and a two-hundred day moving average price translates $187.6359 for the stock.
The latest earnings results from Progressive Corp. (NYSE: PGR) was released for 2024-06-30. The net profit margin was 10.17% and return on equity was 29.92% for PGR.
