Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Progressive Corporation delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.</li><li>At the corporate level, these incidents have increased their combined ratio by 4.5 points, 1.7 points more than the impact catastrophe events had on their combined ratio in the first half of 2022.</li><li>However, there are segmentation opportunities within the new-to-renewal loss ratio performance as not all policy characteristics at new businesses have the same predicted lifetime loss ratio performance.</li></ul>

The Progressive Corporation delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.At the corporate level, these incidents have increased their combined ratio by 4.5 points, 1.7 points more than the impact catastrophe events had on their combined ratio in the first half of 2022.However, there are segmentation opportunities within the new-to-renewal loss ratio performance as not all policy characteristics at new businesses have the same predicted lifetime loss ratio performance.

The Progressive Corporation: Exclusive Inside Look into Policy Lifetime Performance! - Major Drivers

<ul><li>Progressive Corp delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.</li><li>The growth in new applications represents an increase in quotes from the current shopping in the marketplace as well as an increase in the convention.</li><li>This resulted in increasing reserves as well as reach with increases in rate.</li></ul>

Progressive Corp delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.The growth in new applications represents an increase in quotes from the current shopping in the marketplace as well as an increase in the convention.This resulted in increasing reserves as well as reach with increases in rate.

Progressive Corp.: A Closer Look at The Biggest Catalysts For Future Growth – Financial Forecasts

<ul><li>This is our first report on auto insurance major, Progressive Corp.</li><li>The company had a disappointing quarter and failed to meet Wall Street expectations in terms of revenues as well as earnings.</li><li>This quarter, the company increased personal auto rates in 20 states at an average of around 5% each day for an overall countrywide premium impact of +2%.</li></ul>

This is our first report on auto insurance major, Progressive Corp.The company had a disappointing quarter and failed to meet Wall Street expectations in terms of revenues as well as earnings.This quarter, the company increased personal auto rates in 20 states at an average of around 5% each day for an overall countrywide premium impact of +2%.

Progressive Corp: Initiation of Coverage – Technological Superiority & Other Drivers

Writing about High Quality Companies, Enlightened Capital

Enlightened Capital

Writing about High Quality Companies

I have more than 8 years of investing experience across Equities and Fixed Income (Investment Grade/High Yield). I have largely focused on Financials, Energy, and Utilities professionally, but I am interested in exploring new sectors to find attractive opportunities. Right now, the Payments sector is occupying much of my time.

<ul><li>PGR had a challenging 3Q21, with Operating Earnings down 92% y/y to $82mn</li><li>PGR recently updated investors on the large opportunity within its commercial lines business and provided an overview of the key drivers for that segment’s success over time.</li><li>I continue to believe that PGR represents an attractive investment opportunity, especially given PGR’s commanding underwriting lead over its peers, impressive market share gains over time, and attractive growth avenues.</li></ul>

PGR had a challenging 3Q21, with Operating Earnings down 92% y/y to $82mnPGR recently updated investors on the large opportunity within its commercial lines business and provided an overview of the key drivers for that segment’s success over time.I continue to believe that PGR represents an attractive investment opportunity, especially given PGR’s commanding underwriting lead over its peers, impressive market share gains over time, and attractive growth avenues.

United States

The Progressive Corporation is an insurance holding company. The Company, through its subsidiaries, provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services throughout the United States.

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Progressive Corp (PGR US)

The Progressive Corporation: Exclusive Inside Look into Policy Lifetime Performance! - Major Drivers

The Progressive Corporation delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of...

Baptista Research

Progressive Corp.: A Closer Look at The Biggest Catalysts For Future Growth – Financial Forecasts

Progressive Corp delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par...

Baptista Research

Progressive Corp: Initiation of Coverage – Technological Superiority & Other Drivers

This is our first report on auto insurance major, Progressive Corp. The company had a disappointing quarter and failed to meet Wall Street...

Baptista Research

Progressive Corp Update: Challenges

Since writing up PGR last year, the stock underperformed the S&P 500, generating a total return of 11.4% compared to 32.6% for the S&P 500....

Enlightened Capital

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