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Momentum Stocks in Focus: The Progressive Corporation (PGR), PG&E Corporation (PCG), E*TRADE Financial Corporation (ETFC)

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The Progressive Corporation (PGR) continued its upward trend with the stock climbing 0.57% or $0.22 to close the day at $38.61 on light trading volume of 2.48M shares, compared to its three month average trading volume of 2.95M. The Mayfield Village Ohio 44143 based company has been outperforming the property & casualty insurance group over the past 52 weeks, with the stock gaining 23.08%, compared to the industry which has advanced 27.04% over the same period. With RSI of 77.91, the stock should still continue to rise and get closer to its one year target estimate of $36.77, making it a hold for now.

The Progressive Corporation, through its subsidiaries, provides personal and commercial property-casualty 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, mobile homes, watercraft, and snowmobiles. The company’s Commercial Lines segment provides primary liability, physical damage, and other auto-related insurance for autos, vans, and 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 personal and commercial property insurance, personal umbrella insurance, and primary and excess flood insurance products for homeowners, other property owners, and renters. The company also offers policy issuance and claims adjusting services for the commercial auto insurance procedures/plans; home, condominium, and renters insurance; and general liability and business owners policies, and workers’ compensation insurance, as well as sells personal auto physical damage and property damage liability insurance in Australia. The Progressive Corporation sells its products and services through independent insurance agencies, as well as directly on the Internet, mobile devices, and over the phone. The company was founded in 1937 and is headquartered in Mayfield Village, Ohio.

PG&E Corporation (PCG) grew with the stock adding 0.71% or $0.45 to close at $63.39 on active trading volume of 2.47M compared its three months average trading volume of 2.03M. The San Francisco California 94177 based company operating under the Electric Utilities industry has been trending up for the last 52 weeks, with the shares price now 16.81% up for the period and up by 4.31% so far this year. With price target of $66.25 and a 19.57% rebound from 52-week low, PG&E Corporation has plenty of upside potential, making it a hold with a view buy.

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California. The company’s electricity distribution network consists of approximately 142,000 circuit miles of distribution lines, 58 transmission switching substations, and 603 distribution substations; and electricity transmission network comprises approximately 18,400 circuit miles of interconnected transmission lines and 91 electric transmission substations. Its natural gas system consists of approximately 42,800 miles of distribution pipelines, approximately 6,700 miles of backbone and local transmission pipelines, and various storage facilities. The company operates various electricity generation facilities, such as nuclear, hydroelectric, fossil fuel-fired, and photovoltaic. PG&E Corporation was founded in 1905 and is headquartered in San Francisco, California.

E*TRADE Financial Corporation (ETFC) failed to extend gains with the stock declining -0.91% or $-0.34 to close the day at $37.17 on lower than average trading volume of 2.47M shares, compared to its three month average trading volume of 3.08M. The New York New York 10020 based company has been outperforming the investment brokerage – national companies by 10.6116% for last three months and its recent gains have pushed the stock slightly up 7.27% YTD, versus the investment brokerage – national industry which is up 6.92% for the same period. The RSI of 57.52 indicates the stock is neither overvalued nor undervalued at the current levels, hold for now.

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand name. It operates through two segments, Trading and Investing, and Balance Sheet Management. The Trading and Investing segment offers retail brokerage products and services, investor-focused banking products, and corporate services. The Balance Sheet Management segment manages asset allocation; loans previously originated by the company or purchased from third parties; deposits and customer payables; and credit, liquidity, and interest rate risk. The company provides its services to customers through digital platforms; and a network of customer service representatives and financial consultants through phone, email, and online at two branches, as well as in person through 30 branches across the United States. E*TRADE Financial Corporation was incorporated in 1982 and is headquartered in New York, New York.

 

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