Progressive Corp. PGR Stock Analysis

Progressive Corp. stock trades under the ticker PGR & has shown recent bullish behavior that traders & investors should research further into.

PGR stock closed at $123.73/share on 10/10/2022.

Progressive Corp. PGR Stock’s Technical Performance Broken Down

Progressive Corp. PGR Stock's Technical Performance Over The Last Year

PGR Stock Price: $123.73

10 Day Moving Average: $120.65

50 Day Moving Average: $122.65

200 Day Moving Average: $113.78

RSI: 53.62

MACD: -0.395

Yesterday, PGR stock completed a bullish MACD crossover, breaking & settling above their 50 day moving average.

Recent trading volumes have been about average compared to the year prior, and their RSI is neutral, signaling that there may still be bullish momentum in the near-term.

They have support at the $122.14 & $121.76/share price levels, as they try to break above the $128.47 & $129.66 resistance levels.

Progressive Corp. PGR Stock As A Long-Term Investment

Long-term oriented investors may find PGR stock’s valuation metrics to be a bit too rich, with an 87.11 P/E (ttm) & a 4.71 P/B (mrq).

They recently reported -3.2% Quarterly Revenue Growth Y-o-Y, which investors may want to look into.

Their balance sheet looks decent, with $4.84B in Total Cash (mrq) & $6.39B of Total Debt (mrq).

PGR stock pays a 1.56% dividend, and their current payout ratio is negative, signaling that it may not be sustainable in the long-run.

87.6% of PGR stock’s oustanding share float is owned by institutional investors.

Progressive Corp. PGR Stock As A Short-Term Trade Using Options

Short-term focused traders can use options to protect their portfolios from volatility, while profiting from PGR stock’s price movement.

I am looking at the contracts with the 10/21 expiration date.

The $120, $115 & $110 calls are all in-the-money, listed from highest to lowest level of open interest.

The $125, $130 & $135 puts are also all in-the-money, with the former being more liquid than the latter strikes.

Tying It All Together

PGR stock has many interesting characteristics that traders & investors may find interesting.

Investors will like their balance sheet relative to many other companies at this time, but may be disappointed in the longer-term outlook for their dividend yield.

Traders will like their current technical performance, as well as the liquidity of their options.

All-in-all, it is worth taking a closer look into PGR stock to see how it fits into your portfolio strategy.

*** I DO NOT OWN SHARES OF PGR STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***