The Progressive Corporation (PGR) With $59.93 Price Forms Bullish Multiple Top Pattern

June 27, 2018 - By Norman Soto

The Progressive Corporation (NYSE:PGR) Corporate Logo

During Q1 2018 the big money sentiment decreased to 0.98. That’s change of 0.19, from 2017Q4’s 1.17. 36 investors sold all, 231 reduced holdings as The Progressive Corporation ratio turned negative. 180 rose stakes while 81 funds amassed stakes. Funds hold 450.02 million shares thus 0.77% less from 2017Q4’s 453.53 million shares.
Raymond James Financial Service Advisors owns 0.1% invested in The Progressive Corporation (NYSE:PGR) for 292,047 shs. Howe & Rusling reported 0% of its capital in The Progressive Corporation (NYSE:PGR). Neuberger Berman Gp Ltd Liability Co holds 6.96M shs or 0.48% of its capital. Dubuque Bancorporation Trust owns 127 shs or 0% of their US capital. Tarbox Family Office Inc, a California-based fund reported 256 shs. Moreover, State Teachers Retirement System has 0.14% invested in The Progressive Corporation (NYSE:PGR). Tctc Holdings Ltd Liability Com reported 7,750 shs. First Republic Investment Management invested in 35,642 shs. First Midwest Comml Bank Tru Division invested 0.07% in The Progressive Corporation (NYSE:PGR). Pinnacle Wealth Mgmt Advisory Group Ltd Liability accumulated 5,410 shs. Moreover, Mitsubishi Ufj has 0.14% invested in The Progressive Corporation (NYSE:PGR). Jacobs Levy Equity Incorporated owns 151,283 shs. Uss Mngmt Ltd stated it has 0.41% of its capital in The Progressive Corporation (NYSE:PGR). 1.89 million are owned by Sumitomo Mitsui Trust Hldg. Wetherby Asset reported 16,873 shs stake.

The Progressive Corporation had 5 insider sales and 0 buys since April 25, 2018. This’s net activity of $3.03 million. On Thursday, June 14 Sauerland John P had sold 12,000 shs worth $748,800. $762,804 worth of The Progressive Corporation (NYSE:PGR) shs were sold by Griffith Susan Patricia. On Wednesday, April 25 Broz Steven sold $121,236 worth of The Progressive Corporation (NYSE:PGR) or 2,000 shs.

The Progressive Corporation (PGR) chart reviews a multiple top chart setup with $64.13 target. That’s 7.00 % above today’s $59.93 share price. Finviz.com reported this chart setup on Jun, 27. At $64.13 stock target, the company valuation changes by $2.44 billion more.

The stock increased 0.30% or $0.18 during the last trading session, reaching $59.93.The Progressive Corporation has volume of 205,841 shares. Since June 27, 2017 PGR has risen 47.50% and is uptrending. PGR outperformed by 34.93% the S&P 500.

On July, 17 is awaited The Progressive Corporation (NYSE:PGR)’s earnings report, as reported by Faxor. Last year’s earnings per share was $0.59, while now analysts expect change of 59.32 % up from current $0.94 earnings per share. This could reach $547.44M profit for PGR assuming the current $0.94 earnings per share will become reality. -22.95 % negative EPS growth is what Wall Street’s predicts after $1.22 reported EPS last quarter.

The Progressive Corporation (NYSE:PGR) Ratings Coverage

In total 11 analysts cover Progressive (NYSE:PGR). “Buy” rating has 4, “Sell” are 1, while 6 are “Hold”. 36% are bullish. With $6900 highest and $52 lowest target price Progressive has $59.90 average target price or -0.05% below the current ($59.93) price. 17 are the (NYSE:PGR)’s analyst reports since January 24, 2018 according to StockzIntelligence Inc. In Thursday, February 15 report Sandler O’Neill maintained it with “Buy” rating and $63.0 target. On Thursday, May 17 the stock has “Market Perform” rating by Wood. In Monday, April 16 report FBR Capital maintained it with “Hold” rating and $5400 target. On Tuesday, April 17 the firm earned “Buy” rating by Sandler O’Neill. In Thursday, March 1 report Sandler O’Neill maintained it with “Buy” rating and $65.0 target. On Wednesday, February 14 the stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Keefe Bruyette & Woods. On Wednesday, March 14 the stock of The Progressive Corporation (NYSE:PGR) has “Buy” rating given by Keefe Bruyette & Woods. On Tuesday, April 17 the stock of The Progressive Corporation (NYSE:PGR) earned “Buy” rating by Keefe Bruyette & Woods. In Monday, May 21 report Deutsche Bank maintained it with “Hold” rating and $62 target. On Thursday, January 25 the stock has “Buy” rating by UBS.

There’s an important The Progressive Corporation (NYSE:PGR) news released by Seekingalpha.com. It’s a report titled: “Progressive Corp.’s Dashboard Report – May 2018 Update” on June 23, 2018.

The Progressive Corporation (NYSE:PGR) Institutional Investors Chart

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