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INX:PGR, Jan 21, 04:55 UTC

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Thursday, January 17


News

New Progressive Data Shows Putting the Phone Down Correlates to Lower Insurance Claims

PGR

MAYFIELD VILLAGE, Ohio, Jan. 17, 2019 /PRNewswire/ -- It might sound like common sense, but Progressive has new data showing that drivers who put their phones down are less likely to have a claim than those who drive with a mobile device in their hand. On the other hand, the least distracted drivers in our data were in Montana, Utah, Nevada, Oregon and Vermont. As a result of these findings, in late 2018 Progressive began rewarding drivers who minimized their distracted driving. Today, new Snapshot Mobile customers in Illinois, Texas, Arizona, New Mexico and South Dakota are rated on distraction, in addition to other aspects of how they drive (hard braking and fast acceleration), how much and when they drive. The use of distraction in rating will launch for new customers throughout the country in 2019 as part of Progressive's voluntary Snapshot mobile program, with better rates offered to drivers who stay off their mobile devices while driving.

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  • Science
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Wednesday, January 16


News

Bank of New York Mellon Corp Sells 5,251 Shares of Progressive Corp (NYSE:PGR) – PressOracle

BK PGR

Bank of New York Mellon Corp trimmed its holdings in shares of Progressive Corp (NYSE:PGR) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The company’s stock had a trading volume of 1,746,173 shares, compared to its average volume of 2,862,190. The company has a market cap of $35.93 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.71 and a beta of 0.76. Finally, B. Riley raised their price objective on Progressive from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th.

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  • Financial

Tuesday, January 15


News

Raymond James: Progressive Could Be Set For Sustained Underwriting Growth

PGR

The insurance industry appears poised for profits in 2018 and 2019, suggesting that Progressive Corp (NYSE: PGR) could continue to record a gradual improvement in underlying underwriting results through 2019, according to Raymond James. Analyst Gregory Peters maintains a Strong Buy rating on Progressive with an unchanged $85 price target. The continued deceleration in auto insurance rate increases from the peak achieved in February 2018 indicates that the auto insurance industry has begun a recovery phase, the analyst said. Net Investment Income is likely to grow 56.5 percent year-on-year to $238 million in Q4, while personal lines auto policies in force are expected to increase 14.1 percent year-on-year to 13.4 million, according to Raymond James.

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Thursday, January 10


News

Credit Suisse Group Analysts Give Ashland Global (NYSE:ASH) a $97.00 Price Target – XNewsPress

PGR

Zacks Investment Research raised shares of Ashland Global from a sell rating to a hold rating and set a $91.00 target price on the stock in a report on Monday, November 12th. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.26 and a beta of 1.34. Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. Ashland Global had a net margin of 3.05% and a return on equity of 6.71%. In other Ashland Global news, VP Keith C. Silverman sold 498 shares of the company’s stock in a transaction dated Monday, November 19th.

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  • Financial

Tuesday, January 01


News

Baidu (BIDU) Given a $246.00 Price Target by Credit Suisse Group Analysts – Fairfield Current

BIDU PGR

Baidu (NASDAQ:BIDU) received a $246.00 price target from research analysts at Credit Suisse Group in a note issued to investors on Sunday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Federated Investors Inc. PA now owns 1,250,891 shares of the information services provider’s stock valued at $286,054,000 after purchasing an additional 1,250,446 shares during the last quarter. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Thursday, December 27


News

Siemens (SIE) Given a €129.00 Price Target at Credit Suisse Group – Fairfield Current

PGR SIE

Siemens (FRA:SIE) has been assigned a €129.00 ($150.00) price objective by stock analysts at Credit Suisse Group in a research note issued to investors on Monday, December 3rd. Finally, JPMorgan Chase & Co. set a €123.00 ($143.02) price objective on Siemens and gave the company a “neutral” rating in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of €125.74 ($146.21).

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Monday, December 24


News

Can Progressive (PGR) Keep the Earnings Surprise Streak Alive?

PGR

It is worth considering Progressive (PGR), which belongs to the Zacks Insurance - Property and Casualty industry. When looking at the last two reports, this insurer has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 23.95%, on average, in the last two quarters. For the most recent quarter, Progressive was expected to post earnings of $1.14 per share, but it reported $1.57 per share instead, representing a surprise of 37.72%. For the previous quarter, the consensus estimate was $1.08 per share, while it actually produced $1.19 per share, a surprise of 10.19%. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank. Additionally, some stocks may remain stable even if they end up missing the consensus estimate. Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success.

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Wednesday, December 19


News

Progressive's Premium Growth a Boon, Rising Costs a Concern

PGR

These in turn, should help the company witness a consistently strong policy life expectancy, a measure of customer retention.Given the rising interest rates, Progressive has been experiencing better investment results over the last several quarters and we expect this growth trend to sustain not only on the back of a favorable interest rate environment but also a combination of improved average assets and portfolio yields.Riding on the strength of steady premium growth and higher investment income, the company’s top line has been witnessing a substantial rise over the past several years (with the metric ascending 8.1% over the last five years). Such measures underscore the company’s strong liquidity position and in turn, not only retain the existing investors’ faith in the stock but also attract new ones.Shares of this Zacks Rank #3 (Hold) P&C insurer have gained 8.5% year to date against the industry’s decline of 4.2%. Also, escalating expenses, mainly due to higher losses and settlement expenses plus policy acquisition costs, have been restricting the insurer’s operating margin expansion.Nonetheless, the P&C insurer’s Zacks Consensus Estimate for current-year earnings is pegged at $4.76, indicating a year-over-year surge of 80.9% and for 2019, the consensus mark for the same stands at $4.83, depicting a 1.6% year-over-year rise.Additionally, the stock carries a favorable VGM Score of A. Back-tested results have shown that stocks with a VGM Score of A or B when combined with a top Zacks Rank #1 (Strong Buy) or 2 (Buy) offer best investment opportunities.Furthermore, the company witnessed its 2019 estimates move 2.3% north while the expected long-term earnings growth rate is pegged at 7.3%.Stocks to ConsiderInvestors interested in some better-ranked stocks from the same space can consider Cincinnati Financial Corporation CINF, Atlas Financial Holdings, Inc. AFH and W.R. Berkley Corporation WRB, each carrying a Zacks Rank of 2.

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  • Business
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Monday, December 17


News

The Zacks Analyst Blog Highlights: Progressive, Waste, Celanese, CBRE and General Motors

AXP BMY +5 more AXP BMY PGR GM CBRE WM CMCSA

Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Reassurance from President Trump about his intentions to intervene in the Huawei issue, if required, for the sake of broader national interests, seemed to pacify the markets, albeit briefly. As investors employ a wait-and-see approach in a classic example of “backing and filling” in the market, they could benefit from ‘cash cow’ stocks that garner higher returns. However, singling out cash-rich stocks alone does not make for a solid investment proposition unless these are backed by attractive efficiency ratios like return on equity (ROE). Screening Parameters. In order to shortlist stocks that are cash rich with high ROE, we have added Cash Flow greater than $1 billion and ROE greater than X-Industry as our primary screening parameters. Return on Assets (ROA) greater than X-Industry:This metric determines how much profit a company earns for every dollar of asset, which includes cash, accounts receivable, property, equipment, inventory and furniture.

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Friday, December 14


News

Zacks.com featured highlights include: Nexstar Media, Bristol-Myers Squibb, Capital One Financial, Helmerich & Payne and Progressive

HP PGR

Selecting stocks from the vast investment universe can be daunting. For this, one has to understand the fundamentals of every company and try to place them against the present economic background to figure out how it may fare as an investment. At times, they even talk to customers to gauge what they like or dislike about the products and services offered by the company. So, after thorough research, brokers decide to rate that particular company’s stock. Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start.

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