The Case for and Against The Progressive Corporation (PGR)

The Progressive Corporation (PGR) is an interesting player in the Financial space, with a focus on Property & Casualty Insurance. The stock has been active on the tape, currently trading at $61.92, down from yesterday’s close by -1.31%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

The Progressive Corporation (PGR) currently trades with a market capitalization of $35.92 Billion. That value represents a market adjusting for revenues that have been growing by 17.55 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $4.24 Billion over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.92 on a per share basis this quarter. Perhaps, that suggests something about why 8.04% of the outstanding share supply is held by institutional investors.

Technical Analysis

No analysis is ever complete without a thorough survey of a stock’s technical behavior. Looking at the stock’s movement on the chart, The Progressive Corporation recorded a 52-week high of $63.55. It is now trading 1.63% off that level. The stock is trading $61.34 its 50-day moving average by -0.58%. The stock carved out a 52-week low down at $43.14.

In recent action, The Progressive Corporation (PGR) has made a move of +0.32% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.11, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 1.49% with $578.67 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of PGR.

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