Progressive is upgraded to "Buy" as shares reach my $210 target, trading at ~12x earnings with a de-risked valuation. PGR's Q4 results beat estimates, with a strong 87.1% combined ratio and disciplined underwriting despite industry margin concerns. Premium growth is slowing as PGR prioritizes margins over volume, but policy count remains robust, up 10% year over year.
Progressive (PGR) came out with quarterly earnings of $4.67 per share, beating the Zacks Consensus Estimate of $4.44 per share. This compares to earnings of $4.08 per share a year ago.
PGR is expected to report higher Q4 earnings and revenues, driven by stronger premiums, investment income and policy growth.
Progressive (PGR) concluded the recent trading session at $206.92, signifying a +1.93% move from its prior day's close.
Recently, Zacks.com users have been paying close attention to Progressive (PGR). This makes it worthwhile to examine what the stock has in store.
Progressive (PGR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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Progressive keeps doing the boring thing extremely well: Scale up, keep margins intact, repeat. Over the past decade, PGR delivered a 92.2% average combined ratio while growing gross written premiums from $19.6B (2014) to $65.5B (2024). Costs are not drifting: The expense ratio has stayed below ~20%, supporting durable underwriting profitability across the cycle.
Shares of The Progressive Corporation (NYSE: PGR - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, seven have issued a buy recommendation and
Progressive (PGR) closed the most recent trading day at $213.15, moving +1.94% from the previous trading session.
Progressive (PGR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.