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Progressive Corporation - PGR STOCK NEWS

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.

News

Progressive Reports March 2024 Results

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The Progressive (NYSE:PGR) reported strong financial results for the month ended March 31, 2024, and the first quarter of 2024. Net premiums written and earned increased by 18% and 19% respectively. Net income surged by 421%, with per share earnings up by 425%. Total pretax net realized gains on securities also saw a significant rise of 117%. The combined ratio improved by 12.9 points compared to the prior year. The company made a calendar conversion in October 2023, affecting year-over-year comparisons from October 2023 to September 2024.
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Progressive Reports February 2024 Results

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The Progressive (NYSE:PGR) reported strong financial results for February 2024, with net premiums written at $5,720.5 million, net income of $737.1 million, and a combined ratio of 86.8%. The company also saw a 7% increase in total personal auto policies compared to the previous year.
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Progressive Announces Quarterly Common Share Dividend

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The Progressive Corporation (PGR) declared a $0.10 per common share dividend payable on April 12, 2024, to shareholders of record on April 4, 2024.
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Progressive Announces Investor Relations Event

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The Progressive Corporation (PGR) will host an Investor Relations event on February 27, 2024, featuring a presentation on their Destination Era strategy. CEO Tricia Griffith and CFO John Sauerland will lead the event, with a focus on financial updates and shareholder information.
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Progressive Reports January 2024 Results

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The Progressive Corporation (PGR) reported strong financial results for January 2024, with net premiums written at $5,495.7 million and net income of $700.7 million. The company's combined ratio improved to 87.3 compared to 96.0 in the prior year. Progressive also disclosed a change in its accounting closing calendar in October 2023, which may affect year-over-year comparisons until September 2024.
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Protective Insurance rebranding, becoming Progressive Fleet & Specialty Programs

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Progressive Insurance rebrands its large fleet commercial line coverage to Progressive Fleet & Specialty Programs, reflecting the integration of businesses and capturing expanded expertise in large fleet transportation and niche insurance programs. The new name aims to benefit agents and customers with a nationally recognized brand, following Progressive's acquisition of Protective Insurance Corporation in 2021. Karen Bailo, Progressive's Commercial Lines President, states that the announcement was part of their strategy when they first acquired Protective almost three years ago, enabling them to promote their full suite of capabilities in the transportation market. Progressive Fleet continues to deliver excellent customer service and quality coverage, backed by an A (Excellent) rating by A.M. Best, operating within a leading brand and remaining the leading solution for fleet trucking and workers' compensation insurance.
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Progressive Reports December 2023 Results

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The Progressive Corporation (NYSE:PGR) reported a 21% increase in net premiums written for December 2023 and a 22% increase in net premiums earned for the fourth quarter of 2023. Net income and per share available to common shareholders also saw a significant increase of 141%. The company also reported total pretax net realized gains on securities of $144.0 million, showing a positive financial outcome. However, the conversion of the monthly accounting closing calendar to align with the Gregorian calendar in October 2023 may impact year-over-year comparisons on monthly results from October 2023 through September 2024.
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Progressive Reports November 2023 Results

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The Progressive Corporation (PGR) reported strong November 2023 results, with net premiums written at $4,725.1 million, net premiums earned at $5,079.0 million, and net income at $680.6 million. The combined ratio for the current year was 91.1, showing an improvement from the prior year's 92.2. The company's policies in force for personal auto and special lines showed significant growth, with personal auto policies at 19,441.9 thousand, marking a 9% increase from the previous year. The company has converted its monthly accounting closing calendar to align with the Gregorian calendar, which may impact year-over-year comparisons on monthly results from October 2023 through September 2024.
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Progressive Announces Dividend Information and 2024 Annual Meeting Record Date

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The Progressive Corporation (PGR) declared an annual common share dividend of $0.75 per share and a quarterly common share dividend of $0.10 per share, payable on January 26, 2024. The Board determined the 2023 annual dividend based on the company's capital position, existing capital resources, and expected current and future capital needs. Shareholders of record at the close of business on January 19, 2024, will receive the dividends. The Board also set the record date for the Annual Meeting of Shareholders on May 10, 2024, as March 15, 2024.
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Progressive Reports October 2023 Results

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Progressive Corporation (NYSE:PGR) reported strong results for October 2023, with net premiums written at $5,528.8 million and net income of $406.0 million. The combined ratio for the current year was 91.7, showing improvement from the prior year's 95.9. Policies in force for personal auto and commercial lines also saw significant increases compared to the previous year. For more details, refer to Progressive's complete monthly earnings release.
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FAQ

What is the current stock price of Progressive Corporation (PGR)?

The current stock price of Progressive Corporation (PGR) is $266.06 as of November 22, 2024.

What is the market cap of Progressive Corporation (PGR)?

The market cap of Progressive Corporation (PGR) is approximately 155.0B.

What is Progressive Corporation?

Progressive Corporation is a leading American insurance company specializing in auto and homeowners insurance, established in 1937.

Where is Progressive headquartered?

Progressive is headquartered in Mayfield Village, Ohio.

What types of insurance does Progressive offer?

Progressive offers insurance for personal and commercial autos, motorcycles, boats, recreational vehicles, and homes.

How many customers does Progressive serve?

Progressive serves over 13 million customers across all 50 states.

What are some of Progressive's innovative services?

Progressive offers unique services like Name Your Price® and Snapshot® to give customers more control over their insurance choices.

How does Progressive distribute its insurance policies?

Progressive markets its policies through independent insurance agencies, online platforms, and direct marketing channels.

What recent hiring initiatives has Progressive announced?

In 2024, Progressive announced plans to hire thousands of job seekers for various roles, including remote, in-office, and hybrid positions.

What is Progressive's financial condition?

Progressive has a strong financial condition, with consistent year-over-year increases in policies and total revenue, reporting a 25% increase in total revenue in 2023.

What awards has Progressive received for its corporate culture?

Progressive was named one of FORTUNE's 100 Best Companies to Work For® in 2024.

Where can I find more information about Progressive?

You can find more information about Progressive on their website at www.progressive.com.

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Progressive Corporation

NYSE:PGR

PGR Rankings

#75 Ranked by Market Cap
#2117 Ranked by Dividends

PGR Stock Data

154.98B
583.98M
0.28%
86.67%
0.87%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
Link
United States of America
MAYFIELD VILLAGE