Latest Move Creates Value: Verizon Communications Inc. (VZ), The Progressive Corporation (PGR)

SILLIMAN CRAIG L., EVP of PubPolicy & Gen Counsel, sold 1,349 shares of the Verizon Communications Inc. (NYSE:VZ) in an exchange that happened on March 4th. The stock was sold at an average price of $57.12 per share, amounting to a transaction worth $77,055. The sale was made public in a document filed with the SEC. Additionally, Director McAdam Lowell C sold 285,988 shares of this stock in a transaction that took place on February 26th. The stock was sold at an average price of $56.72 per share, for a total exchange amounting to $16,221,239. After the transaction, the Director McAdam Lowell C currently holds 362,932 shares of the company’s stock, which is worth approximately $20897625.

With this stock price’s latest movement, it is now -6.50% away from its 1-year high and 24.94% higher than its 1-year low price. In the past seven days, the stock price volatility for Verizon Communications Inc. was 1.38%, whereas its volatility in the past 30 days has been 1.39%. This public company’s stock also has a beta score of 0.49. When the beta value is less/more than 1, it can imply that the stock is less/more volatile than the wider stock market – a metric that traders will surely be keeping tabs on.

Verizon Communications Inc. (NYSE:VZ) most recently published its quarterly earnings results. The firm posted $1.12 earnings per share (EPS) for the three-month period, surpassing analysts’ consensus estimate of $1.09 by $0.03. The publicly-traded organization reported revenue of $34,281.00 million for the quarter, compared to the average analyst forecast calling for $34,459.70 million, which was missing the analyst consensus estimate.

Shares of Verizon Communications Inc. (VZ) surged 1.86%, amounting to a gain of $1.05 per share, to finish the regular trading session at $57.58 on Monday 03/11/2019. After beginning the session at $56.76, shares of Verizon Communications Inc. reached as high as $57.615 during the day, while hitting a 1-day low of $56.75. Trade volume reached 13,398,067 shares against this stock’s average daily volume of 16.45M shares, with a total float of 4.13B. As a consequence of the price increase, Verizon Communications Inc. now has a current market value of 238.21B.

The Progressive Corporation (NYSE:PGR) added 0.80% to its trading price by the close of the most recent session, jumping from its previous closing price of $72.27 to $72.85. This stock increased in value by 0.19% during the last 7-day period, and experienced a gain of 7.58% over the past 30-day period. In the past three months, this stock’s price grew by 12.37% , and added 5.86% to its price during the last six months of trading. PGR demonstrated a yearly price gain of 23.43% , while its year-to-date (YTD) price performance has been up 20.75% . This stock’s price changed by +28.46% compared to its 90-day low, and moved down -1.25% comparing to its 90-day high price.

Have a quick look on short, medium and long-term indicators. According to the Composite Indicator, Trendspotter rated the PGR stock as “Buy”. In the short-term, The Progressive Corporation (PGR) has a 20-day average volume of 3,424,005 shares and short-term indicators sets the PGR stock as “ 60% Buy ” on average basis. In the medium-term, PGR stock has a 50-Day average volume of 3,335,726 shares and medium-term indicators gave the average rating of “ 25% Buy ”, while in the long-term period the FB stock has a 100-Day average volume of 3,626,392 shares. On average, long-term indicators rated the stock as “100% Buy ”. The overall picture from all short, medium and long-term indicators sets the PGR stock as “64% Buy ” on average basis.

Recently, multiple brokerages have sent out reports on PGR. Barclays, for example, Upgrade its rating on shares of The Progressive Corporation from “Underweight ” to a “ Overweight”, while setting a $73 price target on shares of the company’s stock, according to a research note from Wednesday January 9th, 2019. B. Riley FBR Upgrade their target price for this stock from $71 to $81, while giving the stock a “ Buy” from “Neutral ” rating, as stated in a research report from Tuesday, December 11th, 2018. Buckingham Research, on the other hand, Upgrade a from “Underperform ” to “ Neutral” rating on this stock in a research note dated Monday, November 19th, 2018.

In other news related to The Progressive Corporation stock, 82.25% shares of PGR held by institutions. The total number of institutions who held the PGR shares was 1,131, according to most recent SEC filling. During the past quarter, total 480,228,833 shares held by institutions with the net change of -221,133 shares. In the meantime, 152 new institutions bought the shares of The Progressive Corporation for the first time and 79 institutions sold all their holdings in the company’s common stock. 509 institutions increased their investment in the PGR stock and 459 institutions decreased their investment in the The Progressive Corporation (PGR)’s stock during the last quarter.