Progressive Quote Seven Common Myths About Progressive Quote

The Progressive Corporation’s PGR second-quarter 2020 balance per allotment of $1.83 exhausted the Zacks Consensus Estimate of $1.72. Moreover, the basal band added 10.2% from the year-ago quarter.



progressive quote
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Behind the Headlines

Net premiums accounting were $10.1 billion in the division beneath review, up 11% from $9.1 billion in the year-ago period. Net premiums becoming grew 9% year over year to $9.6 billion.

Net accomplished assets on balance were $890.8 million, appearance a about five-fold access year over year.



Combined arrangement — allotment of premiums paid out as claims and costs — bigger 27 base credibility (bps) from the prior-year quarter’s akin to 87.7.

The Progressive Corporation Price, Consensus and EPS Surprise

The Progressive Corporation Price, Consensus and EPS Surprise

The Progressive Corporation price-consensus-eps-surprise-chart | The Progressive Corporation Quote

June Numbers Solid

Operating revenues were $3.2 million, up 9.3% year over year. The advance can be attributed to a 10.1% access in premiums, 3.3% advance in fees and added revenues and 18.8% acceleration in account revenues. However, 16% lower advance assets was a fractional offset.

Total costs added 3.4% year over year to $2.7 billion due to 25.2% college added underwriting costs and 9.4% access in action accretion costs. Costs additionally accommodate $16 actor in policyholder acclaim expense.

In June, behavior in force were absorbing at the Personal Auto segment, accepting bigger 11% from the year-ago ages to 15.9 million. Special Lines bigger 6% from the prior-year month’s amount to 4.8 million.

In Progressive’s Personal Auto segment, Direct Auto grew 13% year over year to 8.5 actor while Agency Auto bigger 9% year over year to 7.4 million.

Progressive’s Commercial Auto articulation rose 6% year over year to 0.8 million. The Property business had about 2.3 actor behavior in force in the month, up 13% year over year.

Financial Update

Progressive’s book amount per allotment was $27.63, as of Jun 30, 2020, up 25.7% from $21.98 as of Jun 30, 2019.

Return-on-equity in the additional division of 2020 was 34.9%, accepting broadcast 60 bps year over year. Debt-to-total basic arrangement bigger 40 bps year over year to 24.4% as of Jun 30, 2020.

Zacks Rank

Progressive currently carries a Zacks Rank #3 (Hold). You can see the complete account of today’s Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

W.R. Berkley Corporation WRB will absolution second-quarter 2020 balance on Jul 21. The Zacks Consensus Estimate for the aforementioned stands at 40 cents per share.

RLI Corporation RLI will absolution second-quarter 2020 balance on Jul 22. The Zacks Consensus Estimate for the aforementioned stands at 47 cents per share.

The Travelers Companies TRV will absolution second-quarter 2019 balance on Jul 23. The Zacks Consensus Estimate for the aforementioned stands at $1.31 per share.

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Progressive Quote Seven Common Myths About Progressive Quote – progressive quote
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Last Updated: July 25th, 2020 by admin
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