- The EPS (Earnings Per Share) for Progressive in the first quarter has significantly exceeded estimates, coming in at $3.94 compared to last year’s 75 cents. The estimate had been $3.27.
- Net premiums earned, amounting to $16.15 billion, have seen a 19% year over year increase, outpacing the estimate of $15.87 billion.
- Net premiums written also saw a healthy growth., reaching $18.96 billion, which is an 18% increase from last year. The original estimate was at $17.6 billion.
- The combined ratio reported stands at 86.1%, a decrease from the 99% reported the year prior, underperforming the estimate slightly of 88.1%.
- On the stock market, Progressive has been rated with 11 buys, 10 holds, and just 1 sell.
A look at Progressive Corp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.0 |
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
According to Smartkarma Smart Scores, Progressive Corp shows promising long-term potential based on its overall outlook scores. With a strong momentum score of 5, Progressive Corp is indicating a high level of positive market momentum, which is a key factor contributing to its favorable long-term prospects. Additionally, the company has scored well in growth and resilience, with scores of 3 for both factors. This suggests that Progressive Corp is positioned for sustainable growth and has the ability to withstand market challenges effectively over time.
Although the company received moderate scores of 2 for both value and dividend factors, its solid performance in momentum, growth, and resilience categories highlights a positive outlook for Progressive Corp in the long run. The Progressive Corporation, primarily an insurance holding company, focuses on providing personal and commercial automobile insurance, along with other specialty property-casualty insurance services across the United States. With its favorable Smart Scores, Progressive Corp appears well-positioned for continued growth and success in the foreseeable future.
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.
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