
- Combined Ratio: Progressive reported a combined ratio of 100.4% for May 2024.
- Net Premiums Earned: The company earned net premiums of $5.86 billion.
- Net Premiums Written: Progressive wrote net premiums amounting to $5.98 billion.
- Stock Ratings: Analysts provided the following ratings for Progressive:
- 13 analysts recommend buying the stock.
- 9 analysts suggest holding the stock.
- 1 analyst advises selling the stock.
Progressive Corp on Smartkarma
Progressive Corp has attracted positive analyst coverage on Smartkarma, with Baptista Research publishing a report titled “The Progressive Corporation: Leveraging Technology for Competitive Pricing! – Major Drivers.” According to the report, Progressive Corporation experienced robust growth and profitability in the first quarter of 2024. Key highlights include an 18% increase in net premiums written and an impressive combined ratio of 86.1%. These results are attributed to the company’s strategic approach to rate revisions and risk management, aligning with its core values and business strategy.
A look at Progressive Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
When looking at the long-term outlook for The Progressive Corporation, the Smartkarma Smart Scores reveal an overall positive sentiment. With a strong momentum score of 4, the company is showing promising signs for growth and performance in the future. Additionally, Progressive Corp‘s resilience score of 3 indicates a stable foundation to weather potential market changes. While the value and dividend scores come in at 2, the growth score of 3 suggests potential for expansion and development in the coming years.
The Progressive Corporation, an insurance holding company operating in the United States, is positioned with moderate scores across several key factors. As the company focuses on personal and commercial automobile insurance and other property-casualty services, its overall outlook, as reflected by the Smart Scores, points towards a company with growth potential and stability in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
π‘ Before itβs here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- β Unlimited Research Summaries
- β Personalised Alerts
- β Custom Watchlists
- β Company Analytics and News
- β Events & Webinars