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The Progressive Corporation is an insurance—property & casualty business with stocks listed in the US. Progressive shares (PGR) are listed on the NYSE and all prices are listed in US Dollars. Its last market close was US$94.39 – a decrease of 2.21% over the previous week.
How to buy shares in Progressive
- Compare share trading platforms. To buy shares in a US company from Australia you'll need to find a trading platform that offers access to US stock markets. If you're just starting out, look for a platform with low brokerage and foreign exchange fees.
- Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and tax file number. Fund your account with a bank transfer, credit card or debit card.
- Search for Progressive. Find the share by name or ticker symbol: PGR. Research its history to confirm it's a solid investment against your financial goals.
- Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until Progressive reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
- Decide on how many to buy. At last close price of US$94.39, weigh your budget against a diversified portfolio that can minimise risk through the market's ups and downs. You may be able to buy a fractional share of Progressive, depending on your broker.
- Check in on your investment. Congratulations, you own a part of Progressive. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.
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What's in this guide?
- Progressive key stats
- Compare share trading platforms
- Is Progressive stock a buy or sell?
- Progressive performance over time
- Can I short Progressive shares?
- Is Progressive suitable for ethical investing?
- Are Progressive shares over-valued?
- Progressive's financials
- How volatile are Progressive shares?
- Does Progressive pay a dividend?
- Have Progressive shares ever split?
- Other common questions
How has coronavirus impacted Progressive's share price?
Since the stock market crash in March caused by coronavirus, Progressive's share price has had significant positive movement.
Its last market close was US$94.39, which is 13.70% up on its pre-crash value of US$81.46 and 51.80% up on the lowest point reached during the March crash when the shares fell as low as US$62.18.
If you had bought US$1,000 worth of Progressive shares at the start of February 2020, those shares would have been worth US$825.89 at the bottom of the March crash, and if you held on to them, then as of the last market close they'd be worth US$1,171.38.
Progressive share priceUse our graph to track the performance of PGR stocks over time.
Progressive shares at a glance
|Latest market close||USD$94.39|
|52-week range||USD$62.18 - USD$102.05|
|50-day moving average||USD$95.4106|
|200-day moving average||USD$85.3984|
|Dividend yield||USD$0.4 (0.42%)|
|Earnings per share (TTM)||USD$8.631|
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Is it a good time to buy Progressive stock?
The technical analysis gauge below displays real-time ratings for the timeframes you select. This is not a recommendation, however. It represents a technical analysis based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
Progressive price performance over time
|1 week (2020-10-23)||-0.24%|
|1 month (2020-10-01)||1.00%|
|3 months (2020-07-31)||4.48%|
|6 months (2020-05-01)||23.90%|
|1 year (2019-10-31)||35.42%|
|2 years (2018-10-31)||35.42%|
|3 years (2017-10-31)||94.02%|
|5 years (2015-10-30)||184.91%|
Is Progressive under- or over-valued?
Valuing Progressive stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of Progressive's overall performance. However, analysts commonly use some key metrics to help gauge the value of a stock.
Progressive's P/E ratio
Progressive's current share price divided by its per-share earnings (EPS) over a 12-month period gives a "trailing price/earnings ratio" of roughly 11x. In other words, Progressive shares trade at around 11x recent earnings.
That's relatively low compared to, say, the trailing 12-month P/E ratio for the NASDAQ 100 at the end of 2019 (27.29). The low P/E ratio could mean that investors are pessimistic about the outlook for the shares or simply that they're under-valued.
Progressive's PEG ratio
Progressive's "price/earnings-to-growth ratio" can be calculated by dividing its P/E ratio by its growth – to give 3.6513. A low ratio can be interpreted as meaning the shares offer better value, while a higher ratio can be interpreted as meaning the shares offer worse value.
The PEG ratio provides a broader view than just the P/E ratio, as it gives more insight into Progressive's future profitability. By accounting for growth, it could also help you if you're comparing the share prices of multiple high-growth companies.
Progressive's EBITDA (earnings before interest, taxes, depreciation and amortisation) is US$6.9 billion (£5.4 billion).
The EBITDA is a measure of a Progressive's overall financial performance and is widely used to measure a its profitability.
|Revenue TTM||US$42 billion|
|Operating margin TTM||15.76%|
|Gross profit TTM||US$5.5 billion|
|Return on assets TTM||7.07%|
|Return on equity TTM||31.42%|
|Market capitalisation||US$56.1 billion|
TTM: trailing 12 months
Shorting Progressive shares
There are currently 6.6 million Progressive shares held short by investors – that's known as Progressive's "short interest". This figure is 8% down from 7.1 million last month.
There are a few different ways that this level of interest in shorting Progressive shares can be evaluated.
Progressive's "short interest ratio" (SIR)
Progressive's "short interest ratio" (SIR) is the quantity of Progressive shares currently shorted divided by the average quantity of Progressive shares traded daily (recently around 2.2 million). Progressive's SIR currently stands at 2.96. In other words for every 100,000 Progressive shares traded daily on the market, roughly 2960 shares are currently held short.
However Progressive's short interest can also be evaluated against the total number of Progressive shares, or, against the total number of tradable Progressive shares (the shares that aren't held by "insiders" or major long-term shareholders – also known as the "float"). In this case Progressive's short interest could be expressed as 0.01% of the outstanding shares (for every 100,000 Progressive shares in existence, roughly 10 shares are currently held short) or 0.0113% of the tradable shares (for every 100,000 tradable Progressive shares, roughly 11 shares are currently held short).
Such a low SIR usually points to an optimistic outlook for the share price, with fewer people currently willing to bet against Progressive.
Find out more about how you can short Progressive stock.
Progressive's environmental, social and governance track record
Environmental, social and governance (known as ESG) criteria are a set of three factors used to measure the sustainability and social impact of companies like Progressive.
When it comes to ESG scores, lower is better, and lower scores are generally associated with lower risk for would-be investors.
Progressive's total ESG risk score
Total ESG risk: 31.91
Socially conscious investors use ESG scores to screen how an investment aligns with their worldview, and Progressive's overall score of 31.91 (as at 09/30/2020) is nothing to write home about – landing it in it in the 43rd percentile of companies rated in the same sector.
ESG scores are increasingly used to estimate the level of risk a company like Progressive is exposed to within the areas of "environmental" (carbon footprint, resource use etc.), "social" (health and safety, human rights etc.), and "governance" (anti-corruption, tax transparency etc.).
Progressive's environmental score
Environmental score: 7.06/100
Progressive's environmental score of 7.06 puts it squarely in the 8th percentile of companies rated in the same sector. This could suggest that Progressive is a leader in its sector terms of its environmental impact, and exposed to a lower level of risk.
Progressive's social score
Social score: 13.28/100
Progressive's social score of 13.28 puts it squarely in the 8th percentile of companies rated in the same sector. This could suggest that Progressive is a leader in its sector when it comes to taking good care of its workforce and the communities it impacts.
Progressive's governance score
Governance score: 17.57/100
Progressive's governance score puts it squarely in the 8th percentile of companies rated in the same sector. That could suggest that Progressive is a leader in its sector when it comes to responsible management and strategy, and exposed to a lower level of risk.
Progressive's controversy score
Controversy score: 2/5
ESG scores also evaluate any incidences of controversy that a company has been involved in. Progressive scored a 2 out of 5 for controversy – the second-highest score possible, reflecting that Progressive has, for the most part, managed to keep its nose clean.
Environmental, social, and governance (ESG) summary
|Total ESG score||31.91|
|Total ESG percentile||43.32|
|Environmental score percentile||8|
|Social score percentile||8|
|Governance score percentile||8|
|Level of controversy||2|
Progressive share dividends
Dividend payout ratio: 32.52% of net profits
Recently Progressive has paid out, on average, around 32.52% of net profits as dividends. That has enabled analysts to estimate a "forward annual dividend yield" of 0.42% of the current stock value. This means that over a year, based on recent payouts (which are sadly no guarantee of future payouts), Progressive shareholders could enjoy a 0.42% return on their shares, in the form of dividend payments. In Progressive's case, that would currently equate to about $0.4 per share.
While Progressive's payout ratio might seem fairly standard, it's worth remembering that Progressive may be investing much of the rest of its net profits in future growth.
Progressive's most recent dividend payout was on 14 October 2020. The latest dividend was paid out to all shareholders who bought their shares by 5 October 2020 (the "ex-dividend date").
Have Progressive's shares ever split?
Progressive's shares were split on 26 January 2014.
Progressive share price volatility
Over the last 12 months, Progressive's shares have ranged in value from as little as US$62.18 up to US$102.05. A popular way to gauge a stock's volatility is its "beta".
Beta is a measure of a share's volatility in relation to the market. The market (NYSE average) beta is 1, while Progressive's is 0.5444. This would suggest that Progressive's shares are less volatile than average (for this exchange).
The Progressive Corporation, through its subsidiaries, provides personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services primarily in the United States. Its Personal Lines segment writes insurance for personal autos, and recreational and other vehicles. This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, and snowmobiles. The company's Commercial Lines segment provides auto-related primary liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and non-fleet long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; tow trucks and wreckers used in towing services and gas/service station businesses; and non-fleet taxis, black-car services, and airport taxis. Its Property segment provides residential property insurance for homes, condos, manufactured homes, and renters, as well as offers personal umbrella insurance, and primary and excess flood insurance. The company also offers policy issuance and claims adjusting services; home, condominium, renters, and other insurance; and business owner's policies, general liability, professional liability, and workers' compensation insurance. In addition, it offers reinsurance services. The Progressive Corporation sells its products and services through independent insurance agencies, as well as directly on Internet through mobile devices, and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
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