Progressive (PGR) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on April 12, 2024, might help the stock move higher if these key numbers are better than expe ...

Insurance companies have benefitted immensely from higher interest rates over the last few years making their stocks pop as well. While there is still an abundance of opportunity among many insurance stocks, The Progressive Corporation (PGR)  and Palomar Holdings (PLMR)  are two that stand out.With Progressive and Palomar’s stock soaring over +30% this year, here is a look at why now is still a good time to buy.Image Source: Zacks Investment ResearchRising Earnings EstimatesNotably, Progressive and Palomar ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Progressive (PGR) . This company, which is in the Zacks Insurance - Property and Casualty industry, shows potential for another earnings beat.This insurer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarter ...

Shares of The Progressive Corporation (PGR) have rallied 29.1% year to date, outperforming 17%, 3.9% and 9.3% growth of the industry, the Finance sector and the Zacks S&P 500 composite, respectively. With a market capitalization of $120.5 billion, the average volume of shares traded in the last three months was 2.4 million.A compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital position continue to drive this largest se ...

The Progressive Corporation (PGR) reported earnings per share of $1.24 for February 2024, which jumped nearly five-fold year over year. The improvement stemmed from higher revenues, net realized gain on securities and investment income, partially offset by an increase in expenses.February Numbers in DetailProgressive recorded net premiums written of $5.7 billion, down 5.5% from $6 billion reported in the year-ago month. Net premiums earned were about $5.1 billion, up 23.1% from $4.1 billion reported in the ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

Fed Chief Jerome Powell testified before the House Financial Services Committee Wednesday morning, telling lawmakers that interest rate cuts are likely “at some point” this year. But Powell also reiterated the Fed’s cautious, data-dependent stance as the central bank assesses how the inflation picture evolves in the coming months.The committee “does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably” downward to the F ...

Credit Ratings and Affirmations - AM Best affirmed the Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa" (Superior) for Progressive Corporation members [1] - AM Best affirmed the Long-Term ICR of "a" (Excellent) for Progressive Corporation and all Long-Term Issue Credit Ratings (Long-Term IR) of its senior unsecured issuances [1] - AM Best affirmed the FSR of A (Excellent) and Long-Term ICRs of "a+" (Excellent) for Protective Insurance Company and its subsidiaries [1] - AM Best affirmed the FSR of A (Excellent) and Long-Term ICR of "a+" (Excellent) for National Continental Insurance Company [1] - The outlook for all affirmed ratings is stable [1] Progressive Corporation's Performance and Strengths - Progressive's ratings reflect its strongest balance sheet strength, strong operating performance, very favorable business profile, and appropriate enterprise risk management (ERM) [1] - Progressive's risk-adjusted capitalization is considered strongest, benefiting from favorable underwriting results and reliable investment income [2] - Progressive reported $5.1 billion in comprehensive income in 2023, a significant improvement from a $2.1 billion loss in 2022, driven by stronger underwriting and investment incomes [3] - Progressive's property segment reported a sub-100 combined ratio in 2023, reflecting management's efforts to rebalance exposure accumulations [2] - Progressive maintains high underwriting leverage relative to industry averages but consistently produces favorable underwriting results with low volatility [3] Protective Insurance Corporation Group and National Continental Insurance Company - Protective's ratings reflect its very strong balance sheet strength, adequate operating performance, neutral business profile, and appropriate ERM [4] - National Continental's ratings reflect its very strong balance sheet strength, strong operating performance, limited business profile, and appropriate ERM [4] - Both groups benefit from strategic advantages and financial strength as affiliates or subsidiaries of Progressive [4] Detailed List of Affirmed Ratings - FSR of A+ (Superior) and Long-Term ICRs of "aa" (Superior) affirmed for Progressive Corporation members, including Progressive Casualty Insurance Company, Progressive Northern Insurance Company, and others [4][5] - FSR of A (Excellent) and Long-Term ICRs of "a+" (Excellent) affirmed for Protective Insurance Company and its subsidiaries, including Sagamore Insurance Company and Protective Specialty Insurance Company [5] - FSR of A (Excellent) and Long-Term ICR of "a+" (Excellent) affirmed for National Continental Insurance Company [5] - Long-Term ICRs of "a" (Excellent) and Long-Term IRs affirmed for Progressive Corporation's senior unsecured notes, including $500 million 2.45% notes due 2027 and $850 million 4.125% notes due 2047 [6][7] Industry Context - Progressive continues to outperform AM Best's private passenger standard auto composite despite inflation and supply chain issues in the automobile insurance industry [2] - Progressive leverages advanced underwriting and claims-handling technology, including usage-based technologies [2] - The company faced challenges from higher severity of private passenger auto physical damage claims and unfavorable loss reserve development in 2023 [3]

MAYFIELD VILLAGE, OHIO, March 04, 2024 (GLOBE NEWSWIRE) -- On March 1, 2024, the Board of Directors of The Progressive Corporation (NYSE:PGR) declared a $0.10 per common share dividend, payable April 12, 2024, to shareholders of record at the close of business on April 4, 2024 (ex-dividend date of April 3, 2024). About ProgressiveProgressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us howe ...

Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Progressive (PGR) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.Progressive is a member of our Finance group, which includes 857 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The aver ...