Welcome to our dedicated page for Progressive Corporation news (Ticker: PGR), a resource for investors and traders seeking the latest updates and insights on Progressive Corporation stock.
Progressive Corporation (NYSE: PGR) is a leading American insurance company specializing in auto and home insurance. Established in 1937 and headquartered in Mayfield Village, Ohio, Progressive has grown to become the second largest auto insurer in the United States and a major player in the homeowners insurance market.
Progressive is well-known for its innovative insurance solutions, offering products for personal and commercial autos, motorcycles, boats, recreational vehicles, and homes. The company's unique services, such as Name Your Price® and Snapshot®, have revolutionized the industry by giving customers more control over their insurance choices. With almost 20 million auto policies in force, Progressive serves over 13 million customers across all 50 states through a robust distribution network of independent agents, online platforms, and direct marketing channels.
Recently, Progressive has focused on expanding its workforce to support its continued growth. In 2024, the company announced a significant hiring initiative to fill various roles, including remote, in-office, and hybrid positions across claims, customer care, IT, legal, and corporate functions. This effort aims to enhance customer service and support the company's expanding customer base.
Progressive's financial health is robust, reflecting consistent year-over-year increases in policies and total revenue. In 2023, the company reported a 25% increase in total revenue compared to the previous year. Progressive's commitment to innovation and customer satisfaction has earned it a spot on FORTUNE's 100 Best Companies to Work For® in 2024, highlighting its inclusive and forward-thinking corporate culture.
For investors, Progressive's stock (PGR) offers a stable and promising opportunity, backed by solid financial performance and a strong business model. The company regularly updates its shareholders with detailed earnings releases and is transparent about its financial operations and strategic initiatives.
Progressive continues to lead the insurance industry with a focus on customer-centric solutions, operational excellence, and a commitment to its employees' and stakeholders' well-being. For more information, visit their website at progressive.com.
The Progressive Corporation (NYSE:PGR) reported significant financial results for April 2021. Net premiums written reached $4,450.6 million, an 18% increase compared to $3,764.2 million in April 2020. Net premiums earned also rose by 14% to $4,133.6 million from $3,634.3 million. However, net income declined by 67% to $316.2 million, down from $952.6 million in the prior year. The company’s combined ratio increased to 96.0% from 83.4%, indicating higher costs relative to income.
The Progressive Corporation (NYSE:PGR) declared a quarterly dividend of $0.10 per common share, payable on July 15, 2021, to shareholders of record as of July 7, 2021. The ex-dividend date is July 6, 2021. Additionally, the Board of Directors authorized a new share repurchase program, allowing for the buyback of up to 25 million common shares, which replaces the previous authorization that has been terminated. This program has no expiration date, reflecting a commitment to enhancing shareholder value.
Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on May 5, 2021, at 10:00 a.m. ET, to discuss its financial performance. The call will last approximately 60 minutes and include a Q&A session with CEO Tricia Griffith and CFO John Sauerland. The company plans to file its Quarterly Report on Form 10-Q on May 4, 2021, and release a Shareholders' Report on its website. Access to the call details will be available on Progressive’s investor relations page, with replays of the event available after the call.
The Progressive Corporation (NYSE:PGR) reported significant financial growth in March and Q1 2021. Net premiums written increased by 32% YoY to $3,772.5 million, while net premiums earned rose 11% to $3,269.9 million. Net income surged 78% to $567.9 million, with earnings per share climbing 79% to $0.96. The company's combined ratio worsened to 90.7 from 77.1, indicating increased expenses. Total policies in force for personal lines grew 12% YoY, reaching 22,229,000, with ongoing demand in the personal auto segment driving these results.
The Progressive Corporation (NYSE:PGR) reported a strong performance for February 2021, with net premiums written of $3,852.4 million, representing a 13% increase from $3,404.2 million in February 2020. Net premiums earned rose by 10% to $3,202.5 million.
Net income attributable to Progressive surged 428% to $354.6 million compared to $67.1 million in the prior year, resulting in earnings per share of $0.60 versus $0.11.
Progressive Insurance (NYSE: PGR) announced the retirement of Chief Marketing Officer Jeff Charney, effective January 2022, to ensure a seamless transition with his successor. Charney has led significant marketing initiatives since 2010, including the development of an innovative content ecosystem and a best-in-class marketing team. His strategies contributed to eight consecutive years of sales growth. The company is now focused on finding a new CMO to maintain brand momentum. Charney's decision to retire comes after navigating challenges during the COVID-19 crisis.
The Progressive Corporation (NYSE:PGR) has declared a quarterly dividend of $0.10 per share, set for payment on April 15, 2021. Shareholders of record by the close of business on April 7, 2021 will receive this dividend, which is an important commitment to returning value to investors. Progressive is recognized as the third largest auto insurer in the U.S. and offers a wide range of insurance products, demonstrating a solid market position and ongoing customer engagement.
The Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on March 2, 2021, at 1:00 p.m. ET. The call will last approximately 60 minutes, featuring CEO Tricia Griffith and CFO John Sauerland. A question and answer session will be included for callers. Additionally, Progressive plans to file its Annual Report on Form 10-K on March 1, 2021, and post its Shareholders’ Report online. Replays of the call will be available shortly after, with the webcast accessible until March 4, 2022.
The Progressive Corporation (NYSE:PGR) announced its financial results for January 2021, demonstrating strong performance across key metrics. Net premiums written reached $4,104.2 million, a 14% increase from $3,606.3 million in January 2020. Net premiums earned also rose to $3,947.8 million, up 10% from $3,579.1 million. The company reported a net income attributable to Progressive of $557.5 million, a significant 82% increase compared to $307.0 million last year. Additionally, the combined ratio improved to 86.3, down 5.8 points from 92.1.
Progressive Corporation announced an agreement to acquire Protective Insurance Corporation for $23.30 per share, totaling approximately $338 million. The transaction, unanimously approved by Protective's Board, is expected to close by Q3 2021, pending regulatory and shareholder approvals. This acquisition will enhance Progressive’s commercial auto insurance capabilities, particularly in larger fleet and workers’ compensation coverage. Protective shareholders will receive a 49.1% premium based on recent stock prices.
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