Progressive

Progressive Insurance(R) makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price(R) , Snapshot(R) , and HomeQuote Explorer(R) .

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

CFRA Keeps Hold Opinion On Shares Of The Progressive Corporation

/ / Financials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target price by $15 to $160, or 21.3x our 2024 operating EPS estimate of $7.50 and 17.4x our 2025 EPS estimate of $9.20, versus PGR’s five-year average forward multiple of 18x and a peer average of 10x. We up our 2023 EPS estimate by $0.32 to $5.05. We calculate Q3 operating EPS to be $1.97 versus $0.53, above our $1.47 EPS estimate, the $1.71 consensus view, on 20% higher earned premiums and improved underwriting results, evidenced by the Q3 combined ratio of 92.4% versus 99.2%. We note YTD loss costs rose 21%, still outpacing the 18% rise in YTD premiums, though the rise in loss costs is moderating. We now see 15%-18% operating revenue growth in 2023, driven mainly by 12%-18% higher premiums,

CFRA Keeps Hold Opinion On Shares Of The Progressive Corporation Read Post »

Progressive Q3 EPS $1.89 Beats $1.72 Estimate, Sales $14.89B Miss $15.46B Estimate

/ / Financials /

Progressive (NYSE:PGR) reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.72 by 9.88 percent. This is a 263.46 percent increase over earnings of $0.52 per share from the same period last year. The company reported quarterly sales of $14.89 billion which missed the analyst consensus estimate of $15.46 billion by 3.66 percent. This is a 20.12 percent increase over sales of $12.40 billion the same period last year.

Progressive Q3 EPS $1.89 Beats $1.72 Estimate, Sales $14.89B Miss $15.46B Estimate Read Post »

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