We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Progressive Corporation (PGR - Free Report) being one of the major auto insurers in the country is also bundling home insurance. Efforts by the company to further penetrate customer households through cross-selling auto policies are likely to pay off.
Its policies in force (PIF) remain health as most of the business lines show improvement.
In addition, several initiatives by the company aimed at providing consumers with distinctive new auto insurance options and capitalizing on new opportunities, pave the way for growth.
Though the company faces competition, positive tidings have been driving bullish sentiments. Progressive does have a decent history when it comes to earnings as the stock has beaten estimates in two of the last four quarters with an average beat of 2.3%.
Key Stats to Note: Premiums written continue to post solid numbers, increasing 15% year over year in the reported quarter. Combined ratio deteriorated 70 basis points in the quarter.
Policies in force (PIF) remained healthy, with the Personal Lines segment increasing 6% year over year to 14.7 million. Commercial Lines increased 9% year over year to 0.6 million.
Check back later for our full write up on this PGR earnings report later!
Zacks' Top 10 Stocks for 2017In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Q4 Earnings Beat Estimates
The Progressive Corporation (PGR - Free Report) being one of the major auto insurers in the country is also bundling home insurance. Efforts by the company to further penetrate customer households through cross-selling auto policies are likely to pay off.
Its policies in force (PIF) remain health as most of the business lines show improvement.
In addition, several initiatives by the company aimed at providing consumers with distinctive new auto insurance options and capitalizing on new opportunities, pave the way for growth.
Though the company faces competition, positive tidings have been driving bullish sentiments. Progressive does have a decent history when it comes to earnings as the stock has beaten estimates in two of the last four quarters with an average beat of 2.3%.
Currently, Progressive has a Zacks Rank #2 (Buy), but that could definitely change following Progressive earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below.
Earnings: Progressive earnings beat. Our consensus called for EPS of 51 cents, and the company reported EPS of 64 cents.
Progressive Corporation (The) Price and EPS Surprise
Progressive Corporation (The) Price and EPS Surprise | Progressive Corporation (The) Quote
Key Stats to Note: Premiums written continue to post solid numbers, increasing 15% year over year in the reported quarter. Combined ratio deteriorated 70 basis points in the quarter.
Policies in force (PIF) remained healthy, with the Personal Lines segment increasing 6% year over year to 14.7 million. Commercial Lines increased 9% year over year to 0.6 million.
Check back later for our full write up on this PGR earnings report later!
Zacks' Top 10 Stocks for 2017In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>